Archive: 05/30/2008
Main News
World food prices will dip but stay high: report
May 29, 2008 06:03 AM ET
PARIS (Reuters) - Food prices will remain high over the next
decade even if they fall from current records, meaning millions
more risk further hardship or hunger, the OECD and the UN's
FAO food agency said in a report published on Thursday.
http://links.reuters.com/r/TVKJ6/HPOZK/0R1OQ/75GJM/8LWCL/YT/t
May 29, 2008 06:03 AM ET
PARIS (Reuters) - Food prices will remain high over the next
decade even if they fall from current records, meaning millions
more risk further hardship or hunger, the OECD and the UN's
FAO food agency said in a report published on Thursday.
http://links.reuters.com/r/TVKJ6/HPOZK/0R1OQ/75GJM/8LWCL/YT/t
An Earful on Ethanol: Rising Food Prices, Inefficient Production and Other Problems
Just a year ago, ethanol was the renewable fuel of the moment. Derived mostly from corn grown in America's heartland, it was promoted as a home-grown ticket to energy independence for the U.S. and other oil-importing nations. Today, however, ethanol's prospects look somewhat cloudy. Critics around the world are crying foul over rising food prices, while others say that it takes more resources to create ethanol than the alternative fuel provides. According to experts at Wharton and elsewhere, ethanol underscores the hazards involved in the development of any new energy source, where failure to understand the broader impact of production can result in unintended consequences.
http://knowledge.wharton.upenn.edu/article/1972.cfm
Just a year ago, ethanol was the renewable fuel of the moment. Derived mostly from corn grown in America's heartland, it was promoted as a home-grown ticket to energy independence for the U.S. and other oil-importing nations. Today, however, ethanol's prospects look somewhat cloudy. Critics around the world are crying foul over rising food prices, while others say that it takes more resources to create ethanol than the alternative fuel provides. According to experts at Wharton and elsewhere, ethanol underscores the hazards involved in the development of any new energy source, where failure to understand the broader impact of production can result in unintended consequences.
http://knowledge.wharton.upenn.edu/article/1972.cfm
Wednesday , 28 May 2008
Gold prices “may well have a washout below the $850/oz support level” – Bank Credit Analyst.
Gold prices “may well have a washout below the $850/oz support level” – Bank Credit Analyst.
Dramatic growth in trading volumes and a seemingly bottomless well of liquidity are transforming global foreign exchange markets.
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Our Top 10 Reasons Why The Current Rally Will Go Higher |
Banks launch central clearer for derivatives
May 28 2008 23:58
Efforts to tackle the risk surrounding privately negotiated credit derivatives will take a step forward when 11 of the world's biggest investment banks announce the creation of the first central clearer for the opaque contracts by September Read more »
May 28 2008 23:58
Efforts to tackle the risk surrounding privately negotiated credit derivatives will take a step forward when 11 of the world's biggest investment banks announce the creation of the first central clearer for the opaque contracts by September Read more »
CREDIT DERIVATIVES CLEARING FACILITY TO LAUNCH IN Q3
The Clearing Corporation (CCorp) has inked an agreement with the Depository Trust and Clearing Corporation (DTCC) that will lead to the launch of a central clearing facility for over-the-counter (OTC) derivatives in the third quarter. More on this story: http://www.finextra.com/fullstory.asp?id=18528
The Clearing Corporation (CCorp) has inked an agreement with the Depository Trust and Clearing Corporation (DTCC) that will lead to the launch of a central clearing facility for over-the-counter (OTC) derivatives in the third quarter. More on this story: http://www.finextra.com/fullstory.asp?id=18528
The Lampert Train Wreck We're far from where we need to be," the hedge fund manager turned retail executive Eddie Lampert told shareholders of Sears Holdings earlier this month. Read More
Man Group Profit Soars 60%; Fink To Retire
By: Bill McIntosh, Senior Financial Correspondent
Posted: 05/29/2008 1:13:22 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15011.html
By: Bill McIntosh, Senior Financial Correspondent
Posted: 05/29/2008 1:13:22 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15011.html
Over two dozen Bear Stearns memorabilia items are available on Internet auction site eBay, most for less money than J. P. Morgan is paying per share to acquire the investment bank.
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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: http://www.osei.noaa.gov/Events/Current/TRCnakri150_GJ.jpg
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Iranian Situation and Other Man Made Disasters
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Iran: Politics Affecting South Pars Energy Projects. May 29, 2008 | 2101 GMT. Worker at Iran's South Pars natural gas field. BEHROUZ MEHRI/AFP/Getty Images ... |
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Iran drought forces power cuts
AFP via Yahoo! News Thu, 29 May 2008 4:21 AM PDT
Iran is facing a summer of power cuts after a severe drought slashed output from its hydroelectric power plants, the energy minister warned, according to press reports on Thursday.
AFP via Yahoo! News Thu, 29 May 2008 4:21 AM PDT
Iran is facing a summer of power cuts after a severe drought slashed output from its hydroelectric power plants, the energy minister warned, according to press reports on Thursday.
Iran 'negotiating swap of Repsol, Shell gas projects'
AFP via Yahoo! News Thu, 29 May 2008 2:44 AM PDT
Iran is negotiating with Spanish and British-Dutch energy giants to switch their gas exploration blocs with others due for later development, the oil minister was quoted on Thursday as saying.
AFP via Yahoo! News Thu, 29 May 2008 2:44 AM PDT
Iran is negotiating with Spanish and British-Dutch energy giants to switch their gas exploration blocs with others due for later development, the oil minister was quoted on Thursday as saying.
Geopolitical Diary: Crises Within Israel and Iran
May 29, 2008 0206 GMT
The leaders of Iran and Israel are in similar situations, as each faces domestic political attack at a critical geopolitical time.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_crises_within_israel_and_iran
May 29, 2008 0206 GMT
The leaders of Iran and Israel are in similar situations, as each faces domestic political attack at a critical geopolitical time.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_crises_within_israel_and_iran
Iran: The Natural Gas Problem
May 28, 2008 2245 GMT
Iran appears to be planning ahead for an increase in domestic natural gas demand -- and no increase in domestic production. (With Stratfor map)
http://www.stratfor.com/analysis/iran_natural_gas_problem
May 28, 2008 2245 GMT
Iran appears to be planning ahead for an increase in domestic natural gas demand -- and no increase in domestic production. (With Stratfor map)
http://www.stratfor.com/analysis/iran_natural_gas_problem
The Common Ground for Israel and Iran
May 29, 2008 1247 GMT
In an unusual twist, key government figures of both Israel and its arch-enemy, Iran, find themselves in similar positions: facing growing political problems at home amid efforts to execute complex and important foreign policies.
http://www.stratfor.com/podcast/common_ground_israel_and_iran
May 29, 2008 1247 GMT
In an unusual twist, key government figures of both Israel and its arch-enemy, Iran, find themselves in similar positions: facing growing political problems at home amid efforts to execute complex and important foreign policies.
http://www.stratfor.com/podcast/common_ground_israel_and_iran
US Says Iran's Nuke Program Could Produce Disaster
Voice of America - 2 hours ago
By Meredith Buel US National Security Advisor Stephen Hadley says the world cannot let down future generations by allowing Iran to develop a nuclear bomb, ...
Voice of America - 2 hours ago
By Meredith Buel US National Security Advisor Stephen Hadley says the world cannot let down future generations by allowing Iran to develop a nuclear bomb, ...
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Opalesque’s Corner
- Editor's Note
- Fund launches: Opalesque Exclusive: Former Brahman Partner Cara Goldenberg receives substantial seed money from family office to launch Western European-focused L/S special situation fund, Pioneer AI to launch Asian UCITS III equity fund in June, plans additional hedge fund launches for retail market, BlackSquare launches commodity FOF, TCW preps commodity fund
- Performance: Avenue Capital distressed credit hedge funds rebound in April, Merriman Focus Fund down 1.1% through end of April, had bet against Countrywide and others
- Assets: Opalesque Exclusive: French alternative FoFs see assets down 3.9%, Asian HF industry may stagnate, assets fell 10% to $100bln in Q1 - GFIA`s Peter Douglas
- Man: Group sees more investors choosing hedge funds in turbulent markets, Man`s assets up to $78.5bln, pretax profit up 60%, Fink bows out of Man Group
- Fund Profile: Insight sails along in neutral - manager says market neutral funds most important part of portfolios
- Views: Head of mezzanine debt provider ICG slams hedge fund pay structures, Lehman remains `undercapitalized` even after raising $6bln, Einhorn says, On the rumors industry, New surveys on August quant meltdown: Investors have learned a lesson. But have managers?
- Credit Crunch Update: HSBC CEO Geoghegan says bank will see further sub-prime losses, Sell-off in US bond market pushed yield on 10-year Treasuries above 4% as investors bet Fed will raise rates
- Derivatives: Deutsche Boerse / Eurex white paper says no changes in derivatives market framework necessary, Top banks launch derivatives clearer
- S&P Fund Services: Fund managers seeing spreads that have widened to levels not seen in their careers have increased risk in portfolios
- Credit Rating Agencies: IOSCO to implement changes to code of conduct for credit rating agencies
- Regulators: DFSA enters into Memorandum of Understanding with South African Financial Services board
- Legal: Liquidators of Bear Stearns funds lose court appeal seeking liquidation in the Cayman Islands, Law firms go after TASER`s naked short sellers, top Wall Street names
- People: Opalesque Exclusive: French convertible bond shop Acropole hires two managers, Citadel hires head of securitized products from JPMorgan, Malbec Partners adds senior risk manager and head of marketing and business development, Abraaj Capital hires Permal`s Nashaat to start hedge funds, Infiniti Capital to retain FoHFs manager Iain Hamilton after all, DTB Capital`s David Krein joins Dow Jones Indexes as senior director of institutional markets, Laurus-Valens establishes advisory board with academic, legal professionals
- Institutions: Garden State commits $1.4bln to alternatives, Swiss pension fund APK moves into FoHFs, Survey: Superannuation funds intend to increase allocations to hedge funds
- 130/30 funds / ETFs: Resolution and Pearl merger will bring Axial quants-driven funds to retail market, Resolution to launch several 130/30 funds, SSgA ranked world`s largest institutional fund manager for 7th consecutive year, continues to be a leader in 130/30 strategies ($12.8bln) and ETFs ($171bln)
- Environmental Trading: Ardour Capital`s Walter Nasdeo discusses the future for solar energy, USDA says climate change affecting crops, livestock, problems to persist over next 25 years
- Asia: China may allow foreigners to buy commodity futures - Aisling Analytics welcomes the move, Dalton plans $286m new fund to invest in Japanese REITs, Japan`s largest investor in overseas market, Norinchukin, to pick up battered but high-quality Western securities
- Administrators: HF Administrators report $2.759tln in hedge fund assets in Q1 2008, top 3 administrators are Citco, Citi, HSBC - survey
- Activist News: Toscafund increases Aberdeen stake to 18.21%, US hedge fund Harbinger buys another 8% of Australian iron ore company Midwest Corporation
- News Briefs: `Big Brown` horse owner Michael Lavarone was fined by NASD in 1999, plans to raise $100m for HF, Wall Street brings some relief to Darfur, NYC hedge fund expands in Carnegie Hall Tower
- And Finally. All things Eastern European: Czechs apologize for confusing Latvia and Lithuania
- Logon: http://www.opalesque.com/index.php?act=archive
- Fund launches: Opalesque Exclusive: Former Brahman Partner Cara Goldenberg receives substantial seed money from family office to launch Western European-focused L/S special situation fund, Pioneer AI to launch Asian UCITS III equity fund in June, plans additional hedge fund launches for retail market, BlackSquare launches commodity FOF, TCW preps commodity fund
- Performance: Avenue Capital distressed credit hedge funds rebound in April, Merriman Focus Fund down 1.1% through end of April, had bet against Countrywide and others
- Assets: Opalesque Exclusive: French alternative FoFs see assets down 3.9%, Asian HF industry may stagnate, assets fell 10% to $100bln in Q1 - GFIA`s Peter Douglas
- Man: Group sees more investors choosing hedge funds in turbulent markets, Man`s assets up to $78.5bln, pretax profit up 60%, Fink bows out of Man Group
- Fund Profile: Insight sails along in neutral - manager says market neutral funds most important part of portfolios
- Views: Head of mezzanine debt provider ICG slams hedge fund pay structures, Lehman remains `undercapitalized` even after raising $6bln, Einhorn says, On the rumors industry, New surveys on August quant meltdown: Investors have learned a lesson. But have managers?
- Credit Crunch Update: HSBC CEO Geoghegan says bank will see further sub-prime losses, Sell-off in US bond market pushed yield on 10-year Treasuries above 4% as investors bet Fed will raise rates
- Derivatives: Deutsche Boerse / Eurex white paper says no changes in derivatives market framework necessary, Top banks launch derivatives clearer
- S&P Fund Services: Fund managers seeing spreads that have widened to levels not seen in their careers have increased risk in portfolios
- Credit Rating Agencies: IOSCO to implement changes to code of conduct for credit rating agencies
- Regulators: DFSA enters into Memorandum of Understanding with South African Financial Services board
- Legal: Liquidators of Bear Stearns funds lose court appeal seeking liquidation in the Cayman Islands, Law firms go after TASER`s naked short sellers, top Wall Street names
- People: Opalesque Exclusive: French convertible bond shop Acropole hires two managers, Citadel hires head of securitized products from JPMorgan, Malbec Partners adds senior risk manager and head of marketing and business development, Abraaj Capital hires Permal`s Nashaat to start hedge funds, Infiniti Capital to retain FoHFs manager Iain Hamilton after all, DTB Capital`s David Krein joins Dow Jones Indexes as senior director of institutional markets, Laurus-Valens establishes advisory board with academic, legal professionals
- Institutions: Garden State commits $1.4bln to alternatives, Swiss pension fund APK moves into FoHFs, Survey: Superannuation funds intend to increase allocations to hedge funds
- 130/30 funds / ETFs: Resolution and Pearl merger will bring Axial quants-driven funds to retail market, Resolution to launch several 130/30 funds, SSgA ranked world`s largest institutional fund manager for 7th consecutive year, continues to be a leader in 130/30 strategies ($12.8bln) and ETFs ($171bln)
- Environmental Trading: Ardour Capital`s Walter Nasdeo discusses the future for solar energy, USDA says climate change affecting crops, livestock, problems to persist over next 25 years
- Asia: China may allow foreigners to buy commodity futures - Aisling Analytics welcomes the move, Dalton plans $286m new fund to invest in Japanese REITs, Japan`s largest investor in overseas market, Norinchukin, to pick up battered but high-quality Western securities
- Administrators: HF Administrators report $2.759tln in hedge fund assets in Q1 2008, top 3 administrators are Citco, Citi, HSBC - survey
- Activist News: Toscafund increases Aberdeen stake to 18.21%, US hedge fund Harbinger buys another 8% of Australian iron ore company Midwest Corporation
- News Briefs: `Big Brown` horse owner Michael Lavarone was fined by NASD in 1999, plans to raise $100m for HF, Wall Street brings some relief to Darfur, NYC hedge fund expands in Carnegie Hall Tower
- And Finally. All things Eastern European: Czechs apologize for confusing Latvia and Lithuania
- 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….
schadenfreude SHOD-n-froy-duh, noun:
A malicious satisfaction obtained from the misfortunes of others.
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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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