Archive: 04/29/2008
Main News
from The Wall Street Journal
April 28, 2008
Calpers CEO Fred Buenrostro is stepping down to "pursue private sector opportunities." The announcement, delivered in a prepared statement, comes days after Russell Read, the fund's investment chief, announced his plans to resign from the California Public Employees' Retirement System by June.
http://online.wsj.com/article/SB120943115359751331.html?mod=djemalertNEWS
April 28, 2008
Calpers CEO Fred Buenrostro is stepping down to "pursue private sector opportunities." The announcement, delivered in a prepared statement, comes days after Russell Read, the fund's investment chief, announced his plans to resign from the California Public Employees' Retirement System by June.
http://online.wsj.com/article/SB120943115359751331.html?mod=djemalertNEWS
The Joint Forum released a paper last week entitled Cross-sectoral review of group-wide identification and management of risk concentrations.The paper has also been included in the Joint Forum submissions to the Financial Stability Forum to contribute to its work related to the market turmoil.
BlackRock misses fund of hedge funds IPO target
eFinancial News Mon, 28 Apr 2008 4:57 AM PDT
Brevan Howard has become the second alternative asset manager in less than a week to press ahead with plans for a London fund float as it seeks to raise $500m (€320m).
eFinancial News Mon, 28 Apr 2008 4:57 AM PDT
Brevan Howard has become the second alternative asset manager in less than a week to press ahead with plans for a London fund float as it seeks to raise $500m (€320m).
The recent turbulence in credit markets may have cost investors in some hedge funds lots of money, but if you want to ...
eFinancial News Mon, 28 Apr 2008 3:57 AM PDT
The recent turbulence in credit markets may have cost investors in some hedge funds lots of money, but if you want to make a lot of money in a short amount of time, the answer is to launch a hedge fund of your own.
eFinancial News Mon, 28 Apr 2008 3:57 AM PDT
The recent turbulence in credit markets may have cost investors in some hedge funds lots of money, but if you want to make a lot of money in a short amount of time, the answer is to launch a hedge fund of your own.
Hedge Fund Report Covers Many Aspects of the Investment Industry, and Shines a Spotlight in Particular on the Growing ...
Business Wire via Yahoo! Finance Mon, 28 Apr 2008 4:11 AM PDT
DUBLIN, Ireland----Research and Markets has announced the addition of "Explaining Hedge Funds in the Shari'ah Context: Dubai as the Hedge Fund Jurisdiction of Choice" to their offering.
Business Wire via Yahoo! Finance Mon, 28 Apr 2008 4:11 AM PDT
DUBLIN, Ireland----Research and Markets has announced the addition of "Explaining Hedge Funds in the Shari'ah Context: Dubai as the Hedge Fund Jurisdiction of Choice" to their offering.
Risk climbs to top of corporate to-do list
FinancialWeek (subscription) - New York,NY,USA
A recent RiskMetrics Group study of 11 large financial services firms hit by the subprime crisis found that prior to the crisis, only Bank of America ...
FinancialWeek (subscription) - New York,NY,USA
A recent RiskMetrics Group study of 11 large financial services firms hit by the subprime crisis found that prior to the crisis, only Bank of America ...
New benchmark reveals obesity investment risk in world's largest food
companies
http://www.responsible-investor.com/home/article/obesity/
companies
http://www.responsible-investor.com/home/article/obesity/
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Vulture investors are a changing breed. The new opportunists, with Harbinger's Phil Falcone in the vanguard, have more clout and more imagination. www.businessweek.com/magazine/content/08_18/b4082034951866.htm? |
Hedge funds take extra risk to reach fee targets
Financial Times - Monday April 28, 10:30 BST
Financial Times - Monday April 28, 10:30 BST
A New Face Of Hedge Funds Isn't Shy
Wall Street Journal Interactive - Monday April 28, 09:56 BST
Wall Street Journal Interactive - Monday April 28, 09:56 BST
Analysis: Turf wars erupt in China's financial sector
In China, the cost of poor inter-agency cooperation in the financial sector is accelerating as the economy grows increasingly complex, according to Stephen Green, who leads research on the country for Standard Chartered Bank in Shanghai. "We are moving to the stage where we do need more coordination, but we get more competition instead," Green said. Turf wars have erupted over everything from boosting China's bond market to allowing its citizens to invest directly in shares in Hong Kong. Reuters (28 Apr.)
In China, the cost of poor inter-agency cooperation in the financial sector is accelerating as the economy grows increasingly complex, according to Stephen Green, who leads research on the country for Standard Chartered Bank in Shanghai. "We are moving to the stage where we do need more coordination, but we get more competition instead," Green said. Turf wars have erupted over everything from boosting China's bond market to allowing its citizens to invest directly in shares in Hong Kong. Reuters (28 Apr.)
NEW YORK (HedgeWorld.com)—In the credit derivatives sector, the lines are rapidly blurring between the exchanges and over-the-counter trading. The industry is pushing for a centralized clearing entity in an effort to mitigate credit, counterparty and systemic risks in an uncertain credit market environment that has been made even more worrisome by the explosive growth of credit default swap contracts. ......
GREENWICH, Conn. (HedgeWorld.com)—The Barbashop LLC's diversified trading program returned 62.6% for the first quarter of 2008. This return was a strong bounce back from the fourth quarter of 2007, when the program lost more than 30%, mainly on a heating oil trade that was made too early, according to Greg Barba, the firm's client relations director. ......
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Kerviel starts new job at computer consulting firm. |
Ambac's Earnings: You Can't Make This Stuff Up
Seeking Alpha - New York,NY,USA
Keep in mind that these are exposures to RMBSs themselves, not CDOs and CDO-squareds comprised of tranches of RMBSs. In our analysis (which was similar to ...
Seeking Alpha - New York,NY,USA
Keep in mind that these are exposures to RMBSs themselves, not CDOs and CDO-squareds comprised of tranches of RMBSs. In our analysis (which was similar to ...
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Yield Curve Corner
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Natural Disaster Corner
Climate Prediction http://www.nws.noaa.gov/predictions.php
World Meterological Organization http://severe.worldweather.org/
Tornadoes: http://www.disastercenter.com/tornado.htm
Great Sat Pictures of events: http://www.osei.noaa.gov/Events/Current/TRCmargis119_GJ.jpg
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Iranian Situation and Other Man Made Disasters
Iran-led radicals getting stronger, Israel warns
AFP via Yahoo! News Mon, 28 Apr 2008 12:00 PM PDT
An Iran-led radical front in the Middle East is becoming more powerful and weaknesses in it need to be found, Israel's Deputy Prime Minister Shaul Mofaz said Monday.
AFP via Yahoo! News Mon, 28 Apr 2008 12:00 PM PDT
An Iran-led radical front in the Middle East is becoming more powerful and weaknesses in it need to be found, Israel's Deputy Prime Minister Shaul Mofaz said Monday.
Self-censor to be published, Iran warns writers
AFP via Yahoo! News Mon, 28 Apr 2008 9:04 AM PDT
Iran's culture minister on Monday urged writers to self-censor their books if they want to be published in the Islamic republic, which applies strict vetting on literature and other arts.
AFP via Yahoo! News Mon, 28 Apr 2008 9:04 AM PDT
Iran's culture minister on Monday urged writers to self-censor their books if they want to be published in the Islamic republic, which applies strict vetting on literature and other arts.
Lebanon: Hezbollah's Reshuffle
April 25, 2008 2214 GMT
Hezbollah has reshuffled its organization in anticipation of renewed military conflict with Israel.
http://www.stratfor.com/analysis/lebanon_hezbollahs_reshuffle
April 25, 2008 2214 GMT
Hezbollah has reshuffled its organization in anticipation of renewed military conflict with Israel.
http://www.stratfor.com/analysis/lebanon_hezbollahs_reshuffle
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Opalesque’s Corner
- Editor's Note
- Opalesque Exclusive: African landscape (5) - BlueBay: Correlation between S. African market and rest of the world felt mainly in large negative moves, African stocks good for diversification as they tend to have low correlation to the US market
- Fund Launches: Polar Capital to launch UK absolute return vehicle in June, Former Merrill Lynch energy trader prepares commodities hedge fund, HANRiver to launch L/S fund in July
- Performance: Barbashop`s diversified trading program returns 62.6% in Q1
- Raising assets: Update: ECM Investment - raising funds in the Gulf
- Redemptions: Treesdale and Argent suffer performance-related redemptions
- Liquidations: Khosla`s Strategic Value to wind Down $600 million debt fund
- Trends: Hedge funds take extra risk to lift targets, Equity fund outflows bring need to adapt
- Alpha: Challenges remain for the hedge fund industry, GSA running fund using alpha capture system
- Views: Jim Rogers: China is a buy, buy, buy now
- Man simplifies structure as Morrison retires
- Legal: Update: Class action lawsuit on Citigroup and hedge fund Falcon filed in Florida
- Bear Stearns Update: Investor claims he was misled by Bear Stearns hedge fund
- SocGen Update: Kerviel lands new job
- UBS Update: UBS plans to cut 8000 jobs
- Jefferies cuts back on hedge fund investments after losses in Q1
- Interview: Axa FoHFs chief touts distressed strategies
- Credit Crunch Update: Fed expected to give small reduction, Banks need to be bold and show hedge funds the money, Vulture subprime buyers ramp up purchases
- Manager profile: Greenlight`s David Einhorn
- People: Goldman`s subprime-bet star is leaving, Horizon21 appoints JPMorgan Asia derivatives trader to co-head structured products, Leonard Asset Management`s Howard elected to Hedge Fund Association board
- Institutions: Hedge funds are losing money but that doesn`t mean the $1.8 trillion industry is losing clients - yet, Calpers chief Buenrostro may leave fund
- Commodities: Hedge funds and investment banks swap Gucci for gumboots: Betting on rising food prices by buying farms, Steel price nearly doubles in year, All bets are on rising oil
- Environmental Trading: Growing carbon credit market increases supply of risk management products
- Europe: The argument for investing ISA assets into hedge funds, Marathon Asset Management opens office in Istanbul
- Asia: Japan`s notes fall most since 1999; futures trading suspended, Japan FSA holds the fourth meeting of the Joint Committee on Financial Services Co-operation
- Activist News: Hedge fund Centaurus has 7% stake in ASM Int., Update: Hedge fund is wild card in Wendy`s sale, Hedge fund nominates 3 for VAALCO board, Generali net had `double-digit growth,` Co-CEO says, SAC Capital reports 7.6% stake in P.F. Chang`s, Micrel sends shareholders letter listing inaccurate assertions made by newly formed hedge fund, ETrade CFO and General counsel resign
- 130/30: 130/30 equity demand slackens, survey shows
- News Briefs: Rise of hedge funds in the credit crisis (Audio), Halifax hopes to become financial services center, Ernst & Young has published the first edition of Hedge Funds in Luxembourg - A technical guide, Janus Capital Group earnings up in Q1, AutoNation posts lower-than-expected profit, 36pc owned by Edward Lampert
- ...And finally: Bizarre 911 Emergency Calls
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: African landscape (5) - BlueBay: Correlation between S. African market and rest of the world felt mainly in large negative moves, African stocks good for diversification as they tend to have low correlation to the US market
- Fund Launches: Polar Capital to launch UK absolute return vehicle in June, Former Merrill Lynch energy trader prepares commodities hedge fund, HANRiver to launch L/S fund in July
- Performance: Barbashop`s diversified trading program returns 62.6% in Q1
- Raising assets: Update: ECM Investment - raising funds in the Gulf
- Redemptions: Treesdale and Argent suffer performance-related redemptions
- Liquidations: Khosla`s Strategic Value to wind Down $600 million debt fund
- Trends: Hedge funds take extra risk to lift targets, Equity fund outflows bring need to adapt
- Alpha: Challenges remain for the hedge fund industry, GSA running fund using alpha capture system
- Views: Jim Rogers: China is a buy, buy, buy now
- Man simplifies structure as Morrison retires
- Legal: Update: Class action lawsuit on Citigroup and hedge fund Falcon filed in Florida
- Bear Stearns Update: Investor claims he was misled by Bear Stearns hedge fund
- SocGen Update: Kerviel lands new job
- UBS Update: UBS plans to cut 8000 jobs
- Jefferies cuts back on hedge fund investments after losses in Q1
- Interview: Axa FoHFs chief touts distressed strategies
- Credit Crunch Update: Fed expected to give small reduction, Banks need to be bold and show hedge funds the money, Vulture subprime buyers ramp up purchases
- Manager profile: Greenlight`s David Einhorn
- People: Goldman`s subprime-bet star is leaving, Horizon21 appoints JPMorgan Asia derivatives trader to co-head structured products, Leonard Asset Management`s Howard elected to Hedge Fund Association board
- Institutions: Hedge funds are losing money but that doesn`t mean the $1.8 trillion industry is losing clients - yet, Calpers chief Buenrostro may leave fund
- Commodities: Hedge funds and investment banks swap Gucci for gumboots: Betting on rising food prices by buying farms, Steel price nearly doubles in year, All bets are on rising oil
- Environmental Trading: Growing carbon credit market increases supply of risk management products
- Europe: The argument for investing ISA assets into hedge funds, Marathon Asset Management opens office in Istanbul
- Asia: Japan`s notes fall most since 1999; futures trading suspended, Japan FSA holds the fourth meeting of the Joint Committee on Financial Services Co-operation
- Activist News: Hedge fund Centaurus has 7% stake in ASM Int., Update: Hedge fund is wild card in Wendy`s sale, Hedge fund nominates 3 for VAALCO board, Generali net had `double-digit growth,` Co-CEO says, SAC Capital reports 7.6% stake in P.F. Chang`s, Micrel sends shareholders letter listing inaccurate assertions made by newly formed hedge fund, ETrade CFO and General counsel resign
- 130/30: 130/30 equity demand slackens, survey shows
- News Briefs: Rise of hedge funds in the credit crisis (Audio), Halifax hopes to become financial services center, Ernst & Young has published the first edition of Hedge Funds in Luxembourg - A technical guide, Janus Capital Group earnings up in Q1, AutoNation posts lower-than-expected profit, 36pc owned by Edward Lampert
- ...And finally: Bizarre 911 Emergency Calls
- Logon: http://www.opalesque.com/index.php?act=archive
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Misc. Items of Interest
Murdoch's WSJ: More News, Less Business
Keep forgetting what paper you're reading when you crack the WSJ in the morning? It's not you. It really is different since Rupert Murdoch bought it last year.Business coverage is down 50% (!) on the front page, while political and foreign news are way up.
WPP: US Ad Market Slow, But Western Europe Worse
Keep forgetting what paper you're reading when you crack the WSJ in the morning? It's not you. It really is different since Rupert Murdoch bought it last year.Business coverage is down 50% (!) on the front page, while political and foreign news are way up.
WPP: US Ad Market Slow, But Western Europe Worse
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Funnies, Facts, Quotes, etc….
maelstrom MAYL-struhm, noun:
1. A large, powerful, or destructive whirlpool.
2. Something resembling a maelstrom; a violent, disordered, or turbulent state of affairs.
2. Something resembling a maelstrom; a violent, disordered, or turbulent state of affairs.
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Conference, Courses, Books, Papers
Great Research Sites:
Merrill Lynch research Link to full report including important disclosures see example
John Mauldin’s Weekly Analysis
James Altucher’s Website:
Other useful sites:
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Index Corner
The CSFB/Tremont Hedge Fund Index www.hedgeindex.com.
The Cogent Dynamic Averages http://www.cogenthedge.com/home/inv_strategy.asphttp://www.cogenthedge.com/home/inv_strategy.asp
The Dow Jones Indices: http://www.djhedgefundindexes.com/index.cfm?event=viewPremiumContent (free registration)
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Regulatory Info
investor.info@sfc.hkhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.html
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Disclaimer
The information contained in this document does not constitute an offer or solicitation to sell any security or other type of vehicles to or by anyone in any jurisdictions, nor should it be regarded as a contractual document. Under no circumstances should the information provided on this document be considered as financial advice, or as a sufficient basis on which to make investment decisions. The information contained herein has been gathered by Investor DNA, LLC from sources deemed reliable as of the date of publication, but no warranty of accuracy or completeness is given. Investor DNA, LLC is not responsible for and provides no guarantee with respect to any of the information provided herein or through the use of any hypertext link. Past results are no indication of future performance. All information in this newsletter is for educational and informational purposes and does not constitute investment, legal, tax or accounting advice. All materials are the property of the
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