Main News

 

Commodity Price Boom a Boon for Top-Tier Dealers
By: Michael S. Fischer, Senior Financial Correspondent
Posted: 05/13/2008 4:30:35 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1249.html

 

CFA Says Quant, Fundamental Styles Are Tough Mix
By: Emma Trincal, Senior Financial Correspondent
Posted: 05/13/2008 3:54:39 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail14976.html

 

Assets in emerging markets funds decline ...
Capital invested in hedge funds focusing on emerging markets fell by around 5% in the volatile first quarter of 2008....

 

Japan to Give Hedge Fund TCI Final Order to Drop J-Power Bid
Bloomberg.com Mon, 12 May 2008 10:22 PM PDT
May 13 (Bloomberg) -- Japan will give a final order to Children's Investment Fund Management (UK) LLP to drop a bid to double its stake in J-Power , rejecting a last-ditch appeal from the U.K. fund.

 

 

Aegon to invest $650m in hedge spin-off
Financial Times Tue, 13 May 2008 11:53 AM PDT
Aegon , the Dutch insurer, is spinning off the active equity fund management of its €75bn ($115bn) Netherlands operation to two new hedge funds in which it will invest about $650m.

 

Carlyle fund to target distressed assets
eFinancial News Tue, 13 May 2008 5:19 AM PDT
US alternatives manager The Blackstone Group, which said difficult conditions in the US and Europe were limiting fees and causing it to seek opportunities elsewhere, has launched a hedge fund joint venture with Hong Kong-based fund manager Altius to focus on the Asia-Pacific region.

 

The Summer of Discontent in the Hamptons Mortgage woes catch up with the playground of the putatively rich and famous.
http://online.barrons.com/article/SB121058725811884831.html?mod=djemBF

 

India: Jaipur Blasts Update
May 13, 2008 1523 GMT
The Indian cities of New Delhi and Mumbai have been put on high alert following May 13 blasts in...
http://www.stratfor.com/sitrep/india_jaipur_blasts_update

SPACs Look Beyond Hedge Fund Trade
By: Chidem Kurdas, New York Bureau Chief
Posted: 05/13/2008 12:47:00 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3469.html

 

Blackstone launches new Asia-focused hedge effort
Source: Reuters
The Blackstone Group (BX.N: Quote, Profile, Research) on Tuesday said it launched a new Asia-focused hedge fund strategy, naming a former executive of SAC Capital Management to lead the effort. More... <http://www.hedgefund-index.com/newstoday.asp>

 

Hedge Fund Rising Stars: Jennifer Ancker
Institutional Investor News’ annual 20 Rising Stars of Hedge Funds showcases up-and-coming hedge fund talent.Read more

 

Kotak Launches India Dynamic Fund
By: Martin de Sa'Pinto, Senior Financial Correspondent
Posted: 05/13/2008 2:47:31 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3470.html

 

Market Is Down; Is Giving, Too?
Wall Street Journal - USA
By CASSELL BRYAN-LOW London's hedge-fund elite are awaiting one of the biggest social events of the year: the ARK charity dinner. Given the difficult start ...

 

By MARK DeCAMBRE

Just when Wall Street firms thought the worst of the credit crisis was over, investors in funky mortgage-tainted debt may unleash a fresh bout of pain for embattled banks like Citigroup, UBS, Lehman Brothers and Bank of America. Investment managers...full story

 

J.P. Morgan's Dimon takes on, places Bear workers

J. P.  Morgan has made plans to take on around 6,000 Bear staffers so far, and will cut some job positions to make room for incoming employees. 

 

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Yield Curve Corner

Bernanke Lunched With Dimon, Rubin Before Bear Rescue (Update1)
Bloomberg - USA
By Scott Lanman May 12 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke lunched on March 11 with a Who's Who of Wall Street leaders, ...

 

 

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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/FSHSsoutheast134_G12.jpg

 

Want News On The China Earthquake? Forget CNN and Try YouTube.
Want to know what that giant earthquake in China's remote Sichuan looked like? Better yet, want to know what it's like to experience a 7.8 magnitude quake? Someone claiming to be a Sichuan University student posted the following video to Tudou, where it's No. 2 on the homepage, and it was reposted on YouTube (click through to view). The video (58,713 YouTube views so far) shows interminable shaking, creaking and groaning of what appears to be a college dorm. After the tremors end, the cameraman runs to the window and shows students milling about in the courtyard. Also embedded: a CCTV news report (in Chinese) and a report from a student in Shanghai, where the quake was strong enough to prompt evacuations.
- Following The China Quake Using Google, Twitter

 

China storms hamper rescue with quake toll 10,000
May 13, 2008 05:52 AM ET
DUJIANGYAN, China (Reuters) - Heavy storms and wrecked roads
hampered efforts to reach areas hardest-hit by China's worst
earthquake in three decades on Tuesday as the death toll rose
to around 10,000.
http://links.reuters.com/r/MBZD1/MHOM0/5UGAF/YOI7J/JVHRM/YT/t

 

Shanghai shares tumble after earthquake
Asian stock markets were mixed Tuesday with the exception of Shanghai, where shares fell more than 3% after an earthquake that killed at least 10,000 and caused widespread destruction. "It doesn't help inflation or the economy," sales trader Andrew Clarke of Societe Generale in Hong Kong said of the quake's effects. In Hong Kong, the Hang Seng Index and the Hang Seng China Enterprises Index were each up a fraction. MarketWatch (13 May.)

 

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Iranian Situation and Other Man Made Disasters

 

 

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Opalesque’s Corner

 

- Fund Launches: Opalesque Exclusive:  Laurus-Valens launches Yen fund to invest in US with minimized currency risk, Agarwal to launch unique Asian stat arb fund, UK Ebullio offers commodity, power hedge funds, Endeavour considers launching new fund
- Indices: Canadian Hedge Watch indices in April, equity sub index +0.87 and all sub indices remain down for 2008 YTD, Credit Suisse launches Risk Appetite Investable indices
- `Safe` funds that have lost money: 130/30 funds
- Research Update:  Riskdata study shows factor-based models help investors detect `time bombs` by discriminating between lucky and talented hedge fund managers
- Fund Profile: Tiburon Tiger fund roars in Asia, up 5.5% YTD, managers believe Asian stocks offer good value
- Trends: Deutsche Bank survey: Over $200bln to flow into Asia, ME and LatAm hedge funds, majority of investors will not apply leverage, Deutsche Bank survey: A fifth of respondents would accept 3-year hedge fund lock-ups, Ag prices may test microfinance model
- Merger Arbitrage: Update: Clear Channel deal a milestone for pure merger arb hedge funds, Clear Channel Communications says court proceedings against banks postponed to May 13, settlement likely
- Credit Crunch:  Kenneth Griffin: `We, as an industry, dropped the ball`, industry needs to overhaul its thinking, accept greater regulation, Calyon`s Litzler may leave after losses, Bear Stearns` `mission not accomplished` for JP Morgan, MBIA posts huge loss on credit derivatives
- People: Clapp heads new U.K. hedge fund: Pensato Capital, Jun Yamamoto manages newly launched NewSmith Japan Horizons Fund, Natsource taps Bear Stearns talent for asset management, CalPERS names Kenneth W. Marzion as Interim CEO
- Institutions: Calpers pulls over $6bln from asset managers, Update: Survey - Pensions demand more liquidity and transparency, show less tolerance of losses, invest more in single manager funds, FT Comment: Pension funds taking the role of financial stabiliser
- Regulatory: Atkins departure from SEC mixed blessing for hedge funds, California steps back from regulation proposal, fearing hedge funds would flee registration mandate, Regulation costs to double by 2010
- Legal: Former GTC Growth hedge fund manager Michael KC Tom settles with U.S. SEC, Beacon Rock Capital hedge fund, fund officer sentenced for timing
- Forex: Traders bet on euro decline as economic picture deteriorates
- Commodities: China growth to keep commodity boom alive says Red Kite president, whose metal fund is recovering, Hedge funds such as Clough Capital Partners bet on U.S. natural gas deposit developers, Oil trades near $126 after rising on Euro, conflict in Beirut, Crimmins developing actively managed products for Jefferies, next stage in his commodity business
- Europe: Opalesque Exclusive: Hedge funds are `crucial` in Switzerland`s financial market says Harcourt`s MP, country in 3rd European position but could move up to 2nd, Opalesque Exclusive: Less taxes for hedge fund managers would be beneficial for Switzerland, but it won`t happen just yet, Hedge funds add complexity to existing restructuring laws in Spain, SocGen A.M. posts 7.3 bln euros net outflows in Q1
- Asia: Blackstone launches Blackstone Altius Advisors in Asia to focus on event-driven strategies, Asian companies remain confident amid global financial crisis - Greenwich Associates` study, Phillipine National Oil approves Petron sale to hedge fund firm, senator questions move
- Service Providers: Opalesque Exclusive: The Bank of New York Mellon acquires LAMP Technologies and tech platform aimed at increasing share in fund of hedge funds market, Viteos targets European expansion, Gravitas launches business consulting services for alternatives, Markit averages growth rate of 234% pa, collects five industry recognition awards
- Event: ARK Charity dinner that draws elite of hedge-fund world lowers fund-raising target
- Activist News: HSBC shareholder Knight Vinke rebels, estimates bank`s losses at $50bln, Activist hedge fund braces for rematch with Seligman, Update: Morgan Stanley doubles stake in Aberdeen Asset Management, Japan gives TCI final order to drop J-Power bid, Yahoo update:  Wounded company waits to see if activist hedge funds are stalking
- News Briefs: `Broadcast him`: GLG backs Godtube with $30m, Oxford Opportunistic Mortgage Fund secures winning bid on loan portfolio, Fortress Investments sells off Michael Jackson loan, Draft principles for relationship between investors and structured product distributors: 'Common Sense Guidance', Fortis puts ABN asset management operations up for sale to help raise Eur1 to 1.5 bln
- And Finally. On poor money management: Thailand will pay out cash incentives to Olympic medalists in installments to prevent squandering
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

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Funnies, Facts, Quotes, etc….

 

umbrage UHM-brij, noun:

1. Shade; shadow; hence, something that affords a shade, as a screen of trees or foliage.
2. a. A vague or indistinct indication or suggestion; a hint.
3. b. Reason for doubt; suspicion.
4. Suspicion of injury or wrong; offense; resentment.

 

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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.