Archive: 05/28/2008
Main News
The largest hedge fund managers reported significant growth in 2007, the result of decent returns and steady inflows, with worldwide (gross) assets managed by the 25 largest hedge fund and fund-of-funds managers up 73%.
Citi HF Manager To Resign
The manager of the two Citibank hedge funds that tanked about 75% is reportedly planning to step down.Read more
The manager of the two Citibank hedge funds that tanked about 75% is reportedly planning to step down.Read more
Norwegian SWF Endures Rough Quarter
As a global debt squeeze battered financial markets, the Norwegian sovereign wealth fund, the world's second largest, suffered the worst quarter since it was established in 1998.
As a global debt squeeze battered financial markets, the Norwegian sovereign wealth fund, the world's second largest, suffered the worst quarter since it was established in 1998.
Societe General (SocGen) is back in the headlines again, this time with a little more (just a nanometer more) truthful then what was reported back in January. Back in January, the blame was firmly and solely on Jerome Kerviel, the rogue trader who was somehow able to hack the banks middle-office and back-office trade reconciliation and audit systems single-handily.
Cambodia rice exports push prices down
Cambodia will sell some of its 1 million-plus tons of rice in warehouses now that it knows it has enough for domestic demand, Prime Minister Hun Sen said. The news adds downward pressure on rice futures, which for two days have fallen by the daily limit set by exchanges. "With major producers in Southeast Asia braced for harvesting bumper crops in the next couple of months, the global market sees more supplies," said Takaki Shigemoto, an analyst with commodity broker Okachi & Co. Bloomberg (27 May.)
Cambodia will sell some of its 1 million-plus tons of rice in warehouses now that it knows it has enough for domestic demand, Prime Minister Hun Sen said. The news adds downward pressure on rice futures, which for two days have fallen by the daily limit set by exchanges. "With major producers in Southeast Asia braced for harvesting bumper crops in the next couple of months, the global market sees more supplies," said Takaki Shigemoto, an analyst with commodity broker Okachi & Co. Bloomberg (27 May.)
How the Latest Oil Spike Will Fuel Inflation
May 27, 2008 0417 GMT
Returning from the Memorial Day weekend in the United States or the Whitsun bank holiday in Europe, the subject of oil prices stares you in the face. Many will have groaned as the ticker at the pump reached new heights. But looking at the future of oil prices has become a black art. Further inflation, says Colin Chapman, is the biggest concern.
http://www.stratfor.com/podcast/how_latest_oil_spike_will_fuel_more_inflation
May 27, 2008 0417 GMT
Returning from the Memorial Day weekend in the United States or the Whitsun bank holiday in Europe, the subject of oil prices stares you in the face. Many will have groaned as the ticker at the pump reached new heights. But looking at the future of oil prices has become a black art. Further inflation, says Colin Chapman, is the biggest concern.
http://www.stratfor.com/podcast/how_latest_oil_spike_will_fuel_more_inflation
Friday , 23 May 2008
A year ago, uranium oxide prices were in the last weeks of a tsunami spike that fulfilled the three preconditions of a mania.
A year ago, uranium oxide prices were in the last weeks of a tsunami spike that fulfilled the three preconditions of a mania.
Road to hedge fund riches is rockier now
guardian.co.uk - UK
By Svea Herbst-Bayliss BOSTON, May 27 (Reuters) - Starting a hedge fund was long considered the road to riches for money managers, but the path has become ...
guardian.co.uk - UK
By Svea Herbst-Bayliss BOSTON, May 27 (Reuters) - Starting a hedge fund was long considered the road to riches for money managers, but the path has become ...
Hedge fund manager's tale sheds light on corporate concerns
MarketWatch - USA
David Einhorn, founder of Greenlight Capital -- a $6 billion hedge fund -- who described his battle with Allied Capital, which is the basis for his book ...
MarketWatch - USA
David Einhorn, founder of Greenlight Capital -- a $6 billion hedge fund -- who described his battle with Allied Capital, which is the basis for his book ...
SRI funds suffer outflows as market slump hits
http://www.responsible-investor.com/home/article/lipper_feri/
http://www.responsible-investor.com/home/article/lipper_feri/
Hedge Fund Activism: The Beginning of the End?
Wall Street Journal Interactive - Tuesday May 27, 07:11 BST
Wall Street Journal Interactive - Tuesday May 27, 07:11 BST
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Yield Curve Corner
No more Fedspeak on further interest rate cuts
The Associated Press -
They are amplifying a signal sent by Chairman Ben Bernanke and his colleagues last month that the Fed's most aggressive rate-cutting campaign in two decades ...
The Associated Press -
They are amplifying a signal sent by Chairman Ben Bernanke and his colleagues last month that the Fed's most aggressive rate-cutting campaign in two decades ...
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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/VSHchaiten148_G10.jpg
China fights flood threat in earthquake zone
The Associated Press -
The shift was announced at a meeting of the Political Bureau of the Communist Party of China's Central Committee presided over by President Hu Jintao, ...
The Associated Press -
The shift was announced at a meeting of the Political Bureau of the Communist Party of China's Central Committee presided over by President Hu Jintao, ...
Emergent BioSolutions To Buy Maker Of Flu Vaccine
(By Kendra Marr, The Washington Post)
(By Kendra Marr, The Washington Post)
Hurricane season is drawing closer
Elizabethtown Bladen Journal - Elizabethtown,NC,USA
... prepare for high winds and secure your property accordingly; and know what to do in the event of a hurricane watch or hurricane warning for your area. ...
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Iranian Situation and Other Man Made Disasters
Iran's new conservative-dominated parliament opens
AP via Yahoo! News Tue, 27 May 2008 7:28 AM PDT
Iran's new conservative-dominated parliament convened Tuesday amid calls for unity in a country suffering from high inflation and U.N. Security Council sanctions over its refusal to curb its controversial nuclear program.
AP via Yahoo! News Tue, 27 May 2008 7:28 AM PDT
Iran's new conservative-dominated parliament convened Tuesday amid calls for unity in a country suffering from high inflation and U.N. Security Council sanctions over its refusal to curb its controversial nuclear program.
Keep up resistance, Iran tells Hamas
AFP via Yahoo! News Tue, 27 May 2008 3:52 AM PDT
Iran's supreme leader Ayatollah Ali Khamenei on Tuesday told the visiting political supremo of Hamas to keep up the resistance against Israel, warning that abandoning the struggle would lead to disgrace.
AFP via Yahoo! News Tue, 27 May 2008 3:52 AM PDT
Iran's supreme leader Ayatollah Ali Khamenei on Tuesday told the visiting political supremo of Hamas to keep up the resistance against Israel, warning that abandoning the struggle would lead to disgrace.
Intelligence Guidance: Week of May 25, 2008
May 23, 2008 2206 GMT
The following are internal Stratfor documents produced to provide high-level guidance to our analysts. These documents are not forecasts, but rather a series of guidelines for understanding and evaluating events, as well as suggestions on areas for focus.
http://www.stratfor.com/analysis/intelligence_guidance_week_may_25_2008
May 23, 2008 2206 GMT
The following are internal Stratfor documents produced to provide high-level guidance to our analysts. These documents are not forecasts, but rather a series of guidelines for understanding and evaluating events, as well as suggestions on areas for focus.
http://www.stratfor.com/analysis/intelligence_guidance_week_may_25_2008
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Opalesque’s Corner
- Opalesque Exclusive: Incubators, seeders invest in early stage manager `much quicker` - Hedge fund lifecycle report Part One
- Investors: Half of institutional investors will invest in emerging manager hedge funds - Preqin Hedge report
- Fund launches: Washington Asset Advisors launches offshore versions of L/S equity funds to meet European demand, Ex-Stratix managers form S2 Capital Management and new tech and energy fund, Toronto`s DDX to launch offshore version of domestic L/S market neutral fund, Merriman plots clean-tech launches, Castlestone Management to launch actively managed UCITS III commodity fund, Arizona-based Universal Carbon Fund rolled out fund last month
- Fund Closures: Update: CFS`s David Bell to manage redemptions in hedge FoF shut-down
- Performance: Man Group expected to report 50% increase in full year profit
- Listings: Update: Second chance leads to success - Investors eagerly welcomed new Brevan Howard Fund which thrives on uncertainty
- Expansion: BlueCrest expands into US and Asian markets, Seeding company PCE Investors plans global expansion
- Strategies: Funds of hedge funds eye lending opportunities
- Trends: Struggling home builders find unexpected saviors as hedge funds and other find value in battered companies, Hedge funds seek help from administrators when buying distressed debt, Small managers seeking security of bigger partner
- Forex: Hedge funds and others betting that dollar pegs will see Gulf currencies soar, Dollar`s rise may threaten foreign fund as tide is now turning, Pound falls against major currencies as housing market slumps, Comment: More testing times ahead as the euro turns ten years old
- Comment: Economist article`s `catchy` title may overstate complexity a little
- Manager Profile: Sy Jacobs of JAM Asset Management discusses where the financial crisis is headed next
- Credit Crunch: US Treasury official claims that availability of credit has improved, Fed and US Treasury efforts having desired effects, Recession still likely in US, says Greenspan, SEC probes credit rating agencies, Moody`s pledges to act quickly, decisively on ratings probe, UBS warns investors of further losses
- Institutions: South Carolina pension fund puts 19% of assets (around $3.5bln) into strategic partnerships with JPMorgan, Invesco, Mariner and TCW, Illinois expands $500m emerging manager program, Philipine's GSIS hires ING to invest $300m in assets including alternatives, UN holds fire on alternatives
- Legal: Update: NFL players to continue with suit against NFL and Union after hedge fund manager`s death
- Regulatory News: Fed and ECB moving in different policy directions
- People: Renaissance hires Zeeshan Ali to Middle East & Africa investment management team, Lane Clark & Peacock appoints hedge fund expert Clay Lambiotte as partner
- Commodities: Juno gains with sugar longs, gold shorts, Worries about supply, US economy push oil prices rise above $133 a barrel in electronic trade, OPEC chief predicts oil prices will continue to rise, Comment: Commodity bubble stories in bubble, Diapason Commodities teams up with Massena to boost distribution in Germanic markets
- Europe: Comment: Signs of crisis in the eurozone still show no real improvement, EU backs mandate for new trade and cooperation agreement with Russia, Football club Manchester United spending spree for players unhindered by GBP135m hedge fund debt
- Africa: New sources of finance energise African economy
- Asia: Winton Capital aims to tap Japan`s personal savings, retirees, Asian Distressed Debt may attract $10bln, StanChart`s Jurie says, Japan is back thanks to global factors and reflation, JPMorgan A.M. closes China real estate fund after raising $600m
- Exchanges: Hong Kong plans to extend trading hours to boost cross-market activity, Lehman expands `dark pools` with Japanese stocks
- Sovereign Wealth Funds: China's $74bln NSSF to award five overseas equities mandates
- Activist Investing: Technology firm raises $21 million, hedge fund PAR Capital Management takes seat on board, Update: TCI invests in J-Power corporate shareholders Mizuho and Kajima to hold them accountable for proxy vote, Simran profits from Spectrum asset sale, Update: Cott stock rises after hedge fund Crescendo Partners buys stake, suggesting possible takeover
- News Briefs: Errant Merrill trader suspended for overstating equity derivatives` value, SEC signs protocols for sharing information on International Accounting Standards, Blackstone and Apollo in talks with Chemtura, BetaPro ETFs offers bulls and bears leverage in U. S. markets
- And Finally... Well, she has that great voice - Japanese man arrested for calling 3100 hours toll free to hear woman's voice on food firm's automated tape
- Logon: http://www.opalesque.com/index.php?act=archive
- Investors: Half of institutional investors will invest in emerging manager hedge funds - Preqin Hedge report
- Fund launches: Washington Asset Advisors launches offshore versions of L/S equity funds to meet European demand, Ex-Stratix managers form S2 Capital Management and new tech and energy fund, Toronto`s DDX to launch offshore version of domestic L/S market neutral fund, Merriman plots clean-tech launches, Castlestone Management to launch actively managed UCITS III commodity fund, Arizona-based Universal Carbon Fund rolled out fund last month
- Fund Closures: Update: CFS`s David Bell to manage redemptions in hedge FoF shut-down
- Performance: Man Group expected to report 50% increase in full year profit
- Listings: Update: Second chance leads to success - Investors eagerly welcomed new Brevan Howard Fund which thrives on uncertainty
- Expansion: BlueCrest expands into US and Asian markets, Seeding company PCE Investors plans global expansion
- Strategies: Funds of hedge funds eye lending opportunities
- Trends: Struggling home builders find unexpected saviors as hedge funds and other find value in battered companies, Hedge funds seek help from administrators when buying distressed debt, Small managers seeking security of bigger partner
- Forex: Hedge funds and others betting that dollar pegs will see Gulf currencies soar, Dollar`s rise may threaten foreign fund as tide is now turning, Pound falls against major currencies as housing market slumps, Comment: More testing times ahead as the euro turns ten years old
- Comment: Economist article`s `catchy` title may overstate complexity a little
- Manager Profile: Sy Jacobs of JAM Asset Management discusses where the financial crisis is headed next
- Credit Crunch: US Treasury official claims that availability of credit has improved, Fed and US Treasury efforts having desired effects, Recession still likely in US, says Greenspan, SEC probes credit rating agencies, Moody`s pledges to act quickly, decisively on ratings probe, UBS warns investors of further losses
- Institutions: South Carolina pension fund puts 19% of assets (around $3.5bln) into strategic partnerships with JPMorgan, Invesco, Mariner and TCW, Illinois expands $500m emerging manager program, Philipine's GSIS hires ING to invest $300m in assets including alternatives, UN holds fire on alternatives
- Legal: Update: NFL players to continue with suit against NFL and Union after hedge fund manager`s death
- Regulatory News: Fed and ECB moving in different policy directions
- People: Renaissance hires Zeeshan Ali to Middle East & Africa investment management team, Lane Clark & Peacock appoints hedge fund expert Clay Lambiotte as partner
- Commodities: Juno gains with sugar longs, gold shorts, Worries about supply, US economy push oil prices rise above $133 a barrel in electronic trade, OPEC chief predicts oil prices will continue to rise, Comment: Commodity bubble stories in bubble, Diapason Commodities teams up with Massena to boost distribution in Germanic markets
- Europe: Comment: Signs of crisis in the eurozone still show no real improvement, EU backs mandate for new trade and cooperation agreement with Russia, Football club Manchester United spending spree for players unhindered by GBP135m hedge fund debt
- Africa: New sources of finance energise African economy
- Asia: Winton Capital aims to tap Japan`s personal savings, retirees, Asian Distressed Debt may attract $10bln, StanChart`s Jurie says, Japan is back thanks to global factors and reflation, JPMorgan A.M. closes China real estate fund after raising $600m
- Exchanges: Hong Kong plans to extend trading hours to boost cross-market activity, Lehman expands `dark pools` with Japanese stocks
- Sovereign Wealth Funds: China's $74bln NSSF to award five overseas equities mandates
- Activist Investing: Technology firm raises $21 million, hedge fund PAR Capital Management takes seat on board, Update: TCI invests in J-Power corporate shareholders Mizuho and Kajima to hold them accountable for proxy vote, Simran profits from Spectrum asset sale, Update: Cott stock rises after hedge fund Crescendo Partners buys stake, suggesting possible takeover
- News Briefs: Errant Merrill trader suspended for overstating equity derivatives` value, SEC signs protocols for sharing information on International Accounting Standards, Blackstone and Apollo in talks with Chemtura, BetaPro ETFs offers bulls and bears leverage in U. S. markets
- And Finally... Well, she has that great voice - Japanese man arrested for calling 3100 hours toll free to hear woman's voice on food firm's automated tape
- 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….
ribald RIB-uhld; RY-bawld, adjective:
1. Characterized by or given to vulgar humor; coarse.
2. A ribald person; a lewd fellow.
2. A ribald person; a lewd fellow.
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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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