Main News

 

Citigroup's $4.5 billion stock sale, along with other capital raisings, signals the credit crisis has further to run.
http://online.wsj.com/article/SB120960151150957925.html?mod=djemheard

 

HFR Hedge Fund Index Rebounds in April After Decline in March

 http://www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=agNkf9wsN_2E

 

Rate Cut Leaves Stocks Lower
By Mark Glassman
The major indexes gave back gains after the Fed cut the funds rate to 2% but hinted at a pause.
  http://www.smartmoney.com/t.cfm?pId=7&mID=508&mDt=04/30/2008&ui=1157312&ctu=%2Fbn%2Findex%2Ecfm%3Fstory%

 

Investors see Recession, Wall Street Depression
Reuters - Wednesday April 30, 09:20 BST

 

UPDATE 2-Fitch unveils CDO overhaul, sees many affirmations
Reuters - USA
By Jane Baird LONDON, April 30 (Reuters) - Fitch Ratings unveiled a new methodology on Wednesday for rating corporate collateralised debt obligations, ...
See all stories on this topic

 

CDO recovery assumptions revised
Structured Credit Investor (subscription) - London,UK
S&P has revised its recovery-upon-default assumptions for CDO securities backed by certain US RMBS collateral, including Alt-A, sub-prime, home equity loan ...
See all stories on this topic

 

Fund manager’s assets frozen
Financial Times Wed, 30 Apr 2008 12:10 PM PDT
A federal court has frozen the assets of a hedge fund manager claiming to manage $7bn of assets, following claims by US regulators that he fraudulently solicited funds from investors while running his business out of two “virtual” offices.

 

Hedge Fund Women
Source: Forbes
"I love risk," says Renee Haugerud.
Those aren't idle words. The 52-year-old launched her own commodity-based global macro fund a decade ago with only $5 million in assets and transformed it into a $1.3 billion heavyweight with outsized returns. More... <http://www.hedgefund-index.com/newstoday.asp>

 

Hit by Credit Crunch, Infiniti Reorganizes
By: Chidem Kurdas, New York Bureau Chief
Posted: 04/30/2008 12:05:41 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=dail&story=dail14953.html

 

Venezuela: Colombian Paramilitary Camp Found
April 30, 2008 1509 GMT
Venezuelan armed forces on April 24 found a camp set up by the United Self-Defence Forces of...
http://www.stratfor.com/sitrep/venezuela_colombian_paramilitary_camp_found

 

 

The Financial Services Authority (FSA) yesterady published Market Watch 26, which focuses on market conduct and transaction monitoring issues.

Full Story...

 

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Yield Curve Corner

 

The Fed Crosses Its Fingers The central bank implies the worst is over for the economy. Wishful thinking?
http://online.barrons.com/article/SB120950313617454043.html?mod=djemBF

 

Fed cuts key rate by a quarter-point

The Fed action, announced Wednesday after a two-day regular meeting, pushed the federal funds rate down to 2%, its lowest level since late 2004. 

 

Fed Decision on Key Rate Presents Risks Either Way
The Federal Reserve will decide today whether to cut interest rates for the seventh time in seven months. For leaders of the central bank, there is no obvious course of action, with big risks no matter what they do.
(By Neil Irwin, The Washington Post)

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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/FSHSsouthwest121_G11.jpg

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Iranian Situation and Other Man Made Disasters

 

U.S. terror report cites Venezuela, Iran
CNN.com Wed, 30 Apr 2008 11:51 AM PDT
Venezuela's associations with terror states, Iran's meddling in Iraq and the resurgence of al Qaeda in Afghanistan top the concerns in a new State Department report on terrorism threats in countries around the world.

 

Iran remains most active state sponsor of terrorism: US
AFP via Yahoo! News Wed, 30 Apr 2008 11:01 AM PDT
Iran remained the world's "most active" state sponsor of terrorism as it tries to build regional influence and drive the United States from the Middle East, a US government report said Wednesday.

 

Gates: Carrier sent to 'remind' Iran
USA Today Wed, 30 Apr 2008 5:48 AM PDT
U.S. Defense Secretary Robert Gates said Tuesday that sending a second aircraft carrier to the Persian Gulf could serve as a "reminder" to Iran, but he said it is not an escalation of force.

 

Hamas are Iran's proxy warriors: Rice
AFP via Yahoo! News Wed, 30 Apr 2008 3:27 AM PDT
Palestinian Hamas militants are serving as the "proxy warriors" for an Iran bent on destroying Israel and destabilizing the Middle East, US Secretary of State Condoleezza Rice said here.

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Opalesque’s Corner

 

- Regulatory:  Opalesque Exclusive:  MFA grows membership with outreach to providers as part of strategy to get proactive on hedge fund issues, Treasury says Fed should use new powers to reduce risk to economy from asset bubbles, fund strategies may have to be curtailed, UK FSA promises to get tough on insider trading, Short-sellers now under regulators` scrutiny worldwide
- Opalesque Exclusive: German Alternative Investment Association condemns 'rogue hedge funds' for 'short and distort' conduct as several European regulators investigate
- Marketing: Opalesque Exclusive:  The hedge fund marketing minefield - what you should know about database listing services
- New Launches: Hagin to launch market-neutral hedge fund, Blue Oar A.M. to enter hedge fund world with new fund and new hire
- Performance: Opalesque Exclusives: Bedrock`s macro fund up 8.10% (est.) MTD due to crude oil options, diminishing of US dollar exposure and reduction of overall market exposure, A China fund that is not down! QBridge China Fund returned +4.07% in Q1 2008, nominated for 2 awards, managers see positive developments in China NPL space, hire 3 in HK
- JWM Update: Meriwether lets investors exit hedge fund
- Indices: Parker FX Index up 1.17% in March, top performer: John W. Henry & Co. - International Forex Program up 13.97%
- Seeders: Latest SkyBridge investment is in Capital Returns Master, a global L/S equity HF focused on insurance industry
- Turnover statistics: Study reveals smaller hedge funds suffer higher `turnover`
- Trends: Intellectual property-focused hedge funds launch amid market volatility, Comment: Hedge funds banking on IPO route
- Women in hedge funds: Forbes talks to 4 women including Renee Haugerud (Galtere), less than 10% of women in HFs take hands-on role in investing or trading according to 100-W-I-HFs
- P&I survey on 130/30 funds: growth declined to only up 22% in last 6 months
- Credit Crunch Update: Update: Deutsche Bank reports first quarterly loss in five years amid increased write-downs, Ben Bernanke's next move (video)
- Views: Ken Griffin sees Wall Street depression, Leon Black sees broken banking system, and Pimco founder sees more pain coming
- People: BlackRock taps Candida Hall as a European marketing director, Amber Partners adds Quentin Thom as director, Grail Partners` ETF unit selects CEO, Merrill Lynch brings top ex-Goldman trader on board, Lehman selects Perry Hoffmeister to run IM business in Europe and the Middle East, In current trend in which seasoned bankers leave for PE funds and HFs, Lou Friedman leaves Bear Stearns for Peter Schoenfeld A.M.
- Earnings: Och-Ziff founder earns $484.8m after flotation, BlackRock head Fink made $41m in 2007,  Myners makes good with GBP200,000 p.a. + shares as GLG`s non-executive director
- Exchanges / Trading Platforms: LCH.Clearnet in talks with Depository Trust & Clearing Corporation over transatlantic clearing house
- Environmental Trading: CME and Storm Exchange study shows finance executives say global climate change will require changes to their business models
- Commodities: Opec`s president says oil prices could hit $200 a barrel, Picken`s next prediction (video), Silver prices to resume rally in late 2008, early 2009 - CPM Group yearbook forecast
- Legal: Ex-hedge fund manager sues former employer to get his bonus, SEC must turn over documents in whistle-blower case
- Asia: BlackRock opens Beijing office, seeks to expand in China, S&P: Asia is resilient amid global turbulence, decoupling theory will be put to the test in next quarters, Japan`s companies rebuild walls against takeovers, rise of poison pills
- Latin America: Hedge funds see Brazil vulnerable to commodity drop, Billionaire Zell says Brazil is top property pick
- Australasia:  Opalesque Exclusives:  VanMac launches hedge fund platform, New fund distribution firm to market alternatives product from UBS and SHK
- Sovereign Wealth Funds: Gulf investor warns of EU over-regulation
- Activist News: New Atos directors backed by hedge funds, ASMI activists get fresh support from Sandell and Pequot, J-Power raises dividend, rejects TCI plea for more
- News Briefs: Update: Relocating companies starts UK tax review, Deutsche Bank to launch short sovereign ETF
- ...And finally:  The Olympics are getting closer, which means it is time for the traditional Australian media hysteria about difficulties getting Vegemite into host nation
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

Brackets of Brilliance Condé Nast Portfolio looks at the biggest brains in business. Who is your pick for the most brilliant person? Read More

 

The Myth of the Walk Aways
Abandoned homes are a questionable symbol of the housing crisis. Read More

 

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Funnies, Facts, Quotes, etc….

 

 

lenity LEN-uh-tee, noun:

The state or quality of being lenient; mildness; gentleness of treatment; leniency.

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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.