Main News

 

 

What Went Wrong with Hedge Funds in Q1?
By: Chidem Kurdas, New York Bureau Chief
Posted: 05/01/2008 12:31:49 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3453.html

 

Volatility could trigger rise in company insolvencies
http://www.ipe.com/news/Volatility_could_trigger_rise_in_company_insolvencies_27855.php

 

CTS Blends Trend-Following and Contrarian Styles
By: Jacob Bunge, Financial Correspondent
Posted: 05/01/2008 3:54:15 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=mfad&story=mfad1230.html

 

 

Not Dead Yet <http://app.en25.com/e/er.aspx?s=795&lid=2813&elq=E9531048F98940F8893C20E83D4DDD2B>  4/30/08
Beth Ann Bovino, Senior Economist, Standard & Poor's

 

Citadel's Griffin Gives Mixed Signal on I.P.O.
Source: The New York Times
Kenneth C. Griffin, founder of the Citadel Investment Group, came about as close as legally possible Tuesday to advertise that his highflying $20 billion hedge fund is on the edge of going public, Dow Jones reported. More... <http://www.hedgefund-index.com/newstoday.asp>

 

Drake to Shut Its Largest Hedge Fund, Plans New Fund This Year
Source: Bloomberg
Drake Management LLC, the New York- based firm started by former BlackRock Inc. money managers, is shutting its largest hedge fund, according to a letter to investors. It plans to start a new fund later this year. More... <http://www.hedgefund-index.com/newstoday.asp>

 

Drake Closing Flagship HF
By: Emma Trincal, Senior Financial Correspondent
Posted: 05/01/2008 3:38:13 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail14957.html

 

Cudgel Over the Quants
Hedge funds are dragging defectors into ugly courtroom battles over trade secrets. Read More

 

Structured Finance <http://now.eloqua.com/e/er.aspx?s=795&lid=240&elq=D8A0C8AA191D4CA0976BE45673D1005E>

 

Small hedge funds close at higher rate than large funds...
This group accounted for 46.9% of the turnover. They are defined as funds removed from the database due to liquidations,...

 

Christopher C. Finger

In the midst of the recent market turbulence, the Senior Supervisors Group, a group of financial supervisors from five countries, published a document detailing their view of risk management practices in a number of large financial institutions, with an eye toward identifying those practices that differentiated those firms that performed best through this difficult period. Though the document largely addresses banking practices, there are numerous lessons for other financial institutions, as well as for risk management service providers. We react to the document, reflecting on what the risk modeling community has done well and not so well leading up to recent events.

Please send questions or comments to the author, or to your RiskMetrics Group representative.  Download RiskMetrics Group Research Monthly (169 KB PDF)

 

Och-Ziff reports quarterly net loss on IPO costs
MarketWatch - USA
The New York-based hedge fund firm posted a loss per share of $3.62 for the latest quarter. , , ) also reports so-called distributable earnings, ...

 

CFTC Nails Jelly to Wall by Greg Newton

 

The State of Catastrophe Bonds by Felix Salmon

 

Defining Alternative Asset Classes by Roger Nusbaum

 

WHAT'S AHEAD FOR BUSINESS IN BRAZIL
http://e.mckinseyquarterly.com/W0RT01EB5D30032CE4E192A1774F00

FIVE PRIORITIES FOR BRAZIL'S ECONOMY
(Guest passed through May 11)
http://e.mckinseyquarterly.com/W0RT01EB5D00C32CE4E192A1774F00

 

Building a Better Index
Rob Wherry
The market-cap-weighted S&P 500 is the gold standard, but alternatives show promise.
  http://www.smartmoney.com/t.cfm?pId=7&mID=510&mDt=05/01/2008&ui=1157312&ctu=%2Fetffocus%2Findex%2Ecfm%3Fstory%3D20080501%2Dindex%2Dfunds

 

GREENWICH, Conn. (HedgeWorld.com)—U.S. pension funds are looking to endowments and foundations for inspiration as they shake up their portfolios in search of higher risk-adjusted returns and better risk management techniques. ......

 

US Subprime Borrowers Need More Federal Aid, FDIC Chief Says
Bloomberg - USA
By Alan Purkiss April 30 (Bloomberg) -- US government efforts to overcome the subprime mortgage crisis should focus on people who wish to stay in their ...

 

Ethanol industry defends role in corn price rise
U.S. farmers and executives said Wednesday that the ethanol industry is not to blame for skyrocketing corn and wheat prices. The industry's trade group admits "some role" in higher corn prices, but estimates that biofuel demand has increased prices by only 4%. The Agriculture Department says that figure is more like 20%, while international aid groups and the World Bank say ethanol played a far larger part in the price increase. BusinessWeek/Associated Press (30 Apr.)

 

Wed, 30 Apr 2008, 18:02

ABC News
The hedge fund giant that owns a controlling stake in Chrysler is in negotiations to buy the controversial security firm Blackwater USA, which has millions of dollars in US government contracts in Iraq, according to sources familiar with the talks. Cerberus Capital Management could invest USD200 million for a stake in Blackwater, said a source close to the negotiations. Other sources said auditors from Cerberus had been examining Blackwater's books since the beginning of the year.

 

Pimco looks to tap redundant Wall Street employees
Pimco has approached several Wall Street banks in the hope of hiring some of the 40,000 people being made redundant a result of the credit crunch.  (Financial Times)
http://mail2.efnmail.co.uk/r/359946/MTk4MTI1OjE3MTYy/

 

What's Hot
(Podcast)
Jeremy Siegel on the Fed's Latest Cut, $4 Gas and the Outlook for Investors
The economy seems to be sinking toward recession, with new home sales at their lowest since the early 1990s. At the same time, inflation is picking up. Some Americans are paying $4 for a gallon of gas and coming home from the supermarket with sticker shock. Today, the Fed deemed recession the bigger worry and cut short-term interest rates by a quarter of a percentage point, from 2.25% to 2%. Was this the right choice? How will it affect the financial markets? Should investors bet on a stock market rebound or hide on the sidelines? Knowledge@Wharton put these questions to Wharton finance professor Jeremy Siegel, author of The Future for Investors.
http://knowledge.wharton.upenn.edu/article/1951.cfm

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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

 

By PAUL THARP

At least for now, Ben Bernanke has answered the question of how low he'll go. The Federal Reserve chairman, along with the rest of the 10-member Federal Open Market Committee, yesterday voted 8-2 for a quarter-point cut in the federal funds...full story

 

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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/TRCmargis122_GJ.jpg

 

Iran TV: Quake wounds more than 100
USA Today Thu, 01 May 2008 10:15 AM PDT
An earthquake with a magnitude 4.7 injured more than 100 people in western Iran on Thursday, reported the Iranian state TV, but no one was seriously hurt or hospitalized.

 

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Iranian Situation and Other Man Made Disasters

 

Iran Protests to U.N. About Clinton Comments
New York Times Thu, 01 May 2008 8:56 AM PDT
Iran protested Senator Hillary Rodham Clinton?s statement that the United States would ?totally obliterate? Iran if it attacked Israel with nuclear weapons.

 

Azerbaijan releases Russian equipment for Iran's Bushehr nuclear plant
International Herald Tribune Thu, 01 May 2008 8:51 AM PDT
Azerbaijan released a shipment of Russian equipment for Iran's first nuclear power plant on Thursday, more than a month after it was halted at the border, a customs official said.

 

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Opalesque’s Corner

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Misc. Items of Interest

 

Cyberwarfare: Botnets
April 30, 2008 2152 GMT
Botnets are an important aspect of cyberwarfare.
http://www.stratfor.com/analysis/cyberwarfare_botnets

 

Turkmenistan: Unified Currency Exchange Rate Takes Effect
May 1, 2008 1421 GMT
The Central Bank of Turkmenistan set a unified currency exchange rate May 1 of 14,250 manat to...
http://www.stratfor.com/sitrep/turkmenistan_unified_currency_exchange_rate_takes_

 

SALARIES AND BONUSES RISE FOR RISK PROFESSIONALS
Despite the fall out from the global credit crunch, risk professionals working in the capital markets industry saw their total compensation increase by an average of seven per cent in 2007, according to a global survey by recruitment outfit Risk Talent Associates (RTA).
More on this story: http://www.finextra.com/fullstory.asp?id=18413

 

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Funnies, Facts, Quotes, etc….

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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.