Main News

 

Ernst & Young Publishes New HF Guide
Source: Alternative Investment News
Ernst & Young has released a new guide to establishing and running Luxembourg hedge funds along, with details on important regulations.

 

Europe's economic slowdown to continue. By Tony Barber in Brussels. Mon Apr 28 14:55:26 EDT 2008. Europe's outlook for economic growth and inflation ...
us.ft.com/ftgateway/superpage.ft?news_id=fto042820081501381232 - 29k

 

Fed set for further cut in rates. published less than 1 hour ago. The "tail risk" of a deep and protracted recession in the US has not diminished much in ...
www.newsonfeeds.com/article/5413420/Fed%20set%20for%20further%20cut%20in%

 

The Ethanol Cure's Side Effects
(By Allan Sloan, The Washington Post)

 

Monday , 28 Apr 2008
World’s No 1 gold ETF records biggest-ever three-day decline in its bullion holdings.

 

LIBOR Volatility May Signal Reign End
By: Emma Trincal, Senior Financial Correspondent
Posted: 04/29/2008 6:47:34 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=peop&story=peop3451.html

 

Tranche warfare may yield 60 pct CDO recovery-S&P
Reuters - USA
NEW YORK, April 28 (Reuters) - Standard & Poor's said on Monday that it has revised its recovery-upon-default assumptions for subprime mortgage debt and now ...

 

Meriwether's hedge fund let investors out, staff go
Reuters via Yahoo! News Tue, 29 Apr 2008 9:38 AM PDT
Hedge-fund manager John Meriwether is letting investors exit his global macro fund after the roughly $300 million portfolio lost 14 percent this year, a person familiar with the fund said on Tuesday.

 

HedgeFund.net (HFN): Study of Hedge Fund Turnover Reveals Industry Trends
Business Wire via Yahoo! Finance Tue, 29 Apr 2008 6:04 AM PDT
NEW YORK----HFN recently completed an internal study of turnover rates in its database of over 8,100 hedge funds, funds of funds and CTA products. Turnover is defined as funds removed from the database due to liquidations, failure to report performance or by request of the manager.

 

New Book Aims to Give Investors a Solid Foundation in Portable Alpha Theory and Practice
Business Wire via Yahoo! Finance Tue, 29 Apr 2008 9:00 AM PDT
DUBLIN, Ireland----Research and Markets has announced the addition of Portable Alpha Theory and Practice: What Investors Really Need to Know to their offering.

 

Markit launches indices...
Markit has launched the Markit iBoxx Short EUR Sovereign Eurozone Total Return Index. It reflects a short position in the...

 

Panic and Euphoria in the Markets by Condor Options

 

Is Bill Miller Losing His Touch? by Larry MacDonald

 

Did Hedge Funds Help Stabilize the Mortgage Market? by Felix Salmon

 

Learning From a Canadian Hedge Fund-Related IPO by Larry MacDonald

 

12 Notes on the Manic Capital Markets by David Merkel

 

How one of the most powerful Wall Streeters Got Fired
New York Magazine - Tuesday April 29, 10:13 BST

 

The credit crunch has taken a bite out of the clean tech sector. But despite the critical situation, the industry is expected to go on to prosper. The fundamentals are all in place.

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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:

 

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Iranian Situation and Other Man Made Disasters

 

 

Analysis: Azeris seize Iran nuke material
UPI Tue, 29 Apr 2008 10:15 AM PDT
By JOHN C.K. DALY UPI International Correspondent WASHINGTON, April 29 (UPI) -- Amid increasingly rancorous U.S.-Iranian relations over Tehran's nuclear energy program, the U.N. sanctions regime scored a small victory March 29 when Azerbaijan's customs and frontier officials detained a Russian cargo bound for Iran's Bushehr nuclear facility.

 

Israel: Iran Would Gain From Israeli Withdrawal From Golan
April 29, 2008 1553 GMT
Israeli Deputy Prime Minister Shaul Mofaz said April 29 that an Israeli withdrawal from the Golan...
http://www.stratfor.com/sitrep/israel_iran_would_gain_israeli_withdrawal_golan

 

Iran, Saudi Arabia: Security Meetings Held
April 29, 2008 1514 GMT
A joint Iran-Saudi security committee meeting was under way April 29 in Tehran to study how to...
http://www.stratfor.com/sitrep/iran_saudi_arabia_security_meetings_held

 

Iran: Pipeline Diplomacy in South Asia
April 29, 2008 1235 GMT
India’s government hosts Iranian President Mahmoud Ahmadinejad for talks on a $7 billion gas pipeline project, deepening the difficulties Washington faces in its attempts to keep Iran isolated. Marla Dial reports.
http://www.stratfor.com/podcast/iran_pipeline_diplomacy_south_asia

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Opalesque’s Corner

- Regulation:  Opalesque Exclusive:  Phil Goldstein's
- New Launches: Galleon plans Asian macro hedge fund as it expands in Singapore, Ermitage rolls out green FoHFs, California firm preps long/short ETF hedge fund
- IPOs:  Update: Brevan Howard to proceed with global BH Global IPO; seen raising $500m, BlackRock Absolute Return strategies listed in London after raising $275m
- Job cuts at Meriwether hedge fund, Two well-known City hedge funds, Lansdowne Partners and Toscafund, are hit hard by crisis as alpha eludes managers
- Media-shy HF star Coffey set for own firm, regarded as one of the most successful managers
- Investcorp completes $243m self-financing deal
- FoHFs risk rises in correlated returns
- DD: How to deal with prevalent sociopathic behaviour Wall Street, stocks which benefit from need for background checks
- Prime brokers and custodians fight over hedge fund mandates while business lines converge
- 130/30: Nicholas-Applegate Capital Management has launched three 130/30 strategies for institutional investors, Comment:  'If P&I is right, we'll start to see a lot more fundamental long-only managers simply extend their existing active picks by shorting'
- Bear Stearns Update: Fed`s bailout is questioned by ex-Fed senior staffer
- Credit Crunch Update: Citigroup`s hedge fund troubles and compensations,  Deutsche Bank may report first loss in five years, Royal Bank may take C$4.2bln in writedowns, Royal Bank of Scotland to cut hundreds of jobs
- People:  Gideon Nieuwoudt joins Silver Creek Capital Management, will open London offices, Bradbury to step down from Old Mutual UK Select Mid Cap fund, Scott Foster Joins Millennium Trust as Senior Vice President, Alternative Investments, JonesTrading announces changes to senior management CEO to step down, Ian Isaacs Joins Merlin Securities to lead fundamental research and market intelligence offering, Fortis announces its new Head of Private Banking Asia for the future combined Private Bank,  Calpers chief to step down; second exit in under a week
- Commodities: Oil Rises to record on U.K. pipeline shutdown, Nigeria attack, Robusta coffee gains as record crude oil spurs commodity rally, Australian agricultural gains on Futuris stake talk, Nymex seat sale hints CME might need to pay more
- Environmental Trading:  Pos 2012 Carbon Credit Fund begins activities by appointing managers, Carbon trade to burst LNG bubble
- Emerging Markets: Mercer and IFC to deliver first 'sustainability rating' for emerging market investments, Santander PM looks to Africa and Middle East
- Middle East:  Manager Profile: Yves Mirabaud Chairman of Mirabaud Middle East on influence of hedge funds, Gulf employers see rise in western resumes, U.A.E. fraud cases may hinder plan to create a financial hub
- Asia: Japan May escape recession on Chinese export demand
- Australia:  Opalesque Exclusive:  Super funds investing in hedge funds, Short sellers like Macquarie
- Sovereign Wealth Funds: Saudis to launch $5.3bln sovereign fund, Sovereign wealth funds become new financial power brokers, Sovereign wealth funds grow 24% in 2007, Jan 2008 acquisitions at $20.6bln
- Activist News: HBK urges Circuit City to negotiate with Blockbuster, Update:  Generali auditor expresses bemusement at hedge funds anger over appointment
- Niche Investing: Study debunks perception that art is few beneficiaries of high inflation
- Technology: Riskdata announces new version of risk management service will incorporate ability to import data feeds from hedge fund database vendors
- News Briefs:  IMA releases investment fund statistics for March 2008, Securities industry wins right to paperless trade confirms, Quarter point rate cut is expected in U.S., HBOS seeks GBP4bln from shareholders in wake of credit crunch, $700,000 for NYC charity
- ...And finally: Newlyweds spend night in jail after colourful brawl involving karate kicks and attacking guests
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

Turkmenistan: A Look Inside the Turkmen Toolbox
April 28, 2008 2223 GMT
The previously isolated Turkmenistan is beginning to act on the international stage and has several levers it can use in managing international affairs.(With Stratfor map)
http://www.stratfor.com/analysis/turkmenistan_look_inside_turkmen_toolbox

 

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Funnies, Facts, Quotes, etc….

 

gimcrack JIM-krak, noun:

1. A showy but useless or worthless object; a gewgaw.
2. Tastelessly showy; cheap; gaudy.

 

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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)

HFRX Indices https://www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login&1170880431

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Regulatory Info

 

 

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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 respective publishers, as referenced by header and appropriate hypertext links.