Tuesday, August 14, 2007

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“Do not wait for leaders; do it alone, person to person.” - Mother Teresa

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 Top Stories


Wall Street humbled by hedge funds
 Source: The Los Angeles Times
Hedge funds became the investment vehicle of choice for many pension plans and wealthy individuals in recent years, developing a cachet as can't-miss outfits run by the investment world's smartest minds. More...

AQR raises $1 bln new cash for hedge funds-WSJ
Source: Reuters
AQR Capital Management LLC, one of the world's largest hedge fund managers, has received commitments from new and current investors to pump about $1 billion into several of its funds, the Wall Street Journal reported on Tuesday, citing an unnamed source. More...

Rheos's Fujino Bets on NPC, Takeei to Lift Hedge Fund Returns
Source: Bloomberg
Hideto Fujino, chief executive officer of Rheos Capital Works Inc., is betting on environment- friendly Japanese companies such as NPC Inc. and Takeei Corp. to boost returns on his hedge fund, Rheos Japan Growth Stock Fund. More...

 Lampert hedge fund picks are off, money still flows
 Source: CNNMoney.com
Edward Lampert, long ranked among the world's best-performing investors, may be enduring a rough patch, according to hedge fund industry investors with knowledge of his fund ESL Investments. More...


More of Today's Stories continued below...  or  Today's Stories unabridged on the web

  Term of the Day & Related News

Structured Products
Structured products are synthetic investment instruments specially created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used: as an alternative to a direct investment; as part of the asset allocation process to reduce risk exposure of a portfolio; or to utilize the current market trend. More...
 
Related News:

Rothwell departs Barcap for JP Morgan
 Source: Structured Products
Giles Rothwell will join JP Morgan as global head of Structured Investments Distributor Marketing in November, leaving a similar position at Barclays Capital, where he has spent the last 11 years. At JP Morgan, Rothwell will head up a business previously looked after by Tony Best, who will continue to maintain the other responsibilities he had aside from retail structured products. More...

Structured investment vehicles’ role in crisis
 Source: Financial Times
Policymakers and investors have been obsessed in recent years about the potential for a hedge fund collapse to spread financial panic. But it seems one of the biggest threats to stability is coming from the age-old risk of short-term borrowing to fund investments in illiquid long-term products. More...
  Scholarly Article & Related News

Index arbitrage and nonlinear dynamics between the S&P 500 futures and cash
 by GP Dwyer, Jr, P. Locke, & W. Yu
We use a cost of carry model with nonzero transaction costs to motivate estimation of a nonlinear dynamic relationship between the S&P 500 futures and cash indexes. Discontinuous arbitrage suggests that a threshold error correction mechanism may characterize many aspects of the relationship between the futures and cash indexes. We use minute-by-minute data on the S&P 500 futures and cash indexes... More...
 
Related News:

S&P Launches Three Indexes
 Source: Forbes
Index provider Standard & Poor's said Monday it launched three investable indexes: the S&P Global Timber & Forestry Index, S&P Global Nuclear Energy Index and S&P Global Alternative Energy Index. More...

 US STOCKS-Indexes rise on central banks' moves, retail data
 Source: Reuters UK
U.S. stocks rose on Monday after central banks calmed markets by pumping more cash into the global financial system and a report showed U.S. consumers spent more freely than expected last month. More...
  Top Stories by Category
  Book of the Day & Related News

   
The RSL Market Timing Method
by Humphrey Lloyd
Price: $31.50
 
Book Description
A time-tested, disciplined approach to trading the market. Unique market timing method applies to mutual funds, stocks, and futures. Utilizes a combination of indicators, some classic and several totally new, that work in real-time trading. Includes a detailed performance record that verifies the systems accuracy. Step-by-step rules are presented.

Related News:

Banc One Fund Investors Get Compensation
 Source: Forbes
The Securities and Exchange Commission announced Monday the distribution of $55.6 million to more than 200,000 investors who were harmed by allegedly fraudulent market timing in certain Banc One mutual funds. More...

Take action, don't seek perfection
 Source: The New York Daily News
I've been investing for 50 years. I run two top performing funds and give investment advice. Yet I am not Peter Perfect. I have no clue how to time the market. Neither does anyone else. More...
 
  Personal Interest


Van Halen-David Lee Roth reunion leads to first tour in 22 years
 Source: The Chicago Tribune
The on-again, off-again Van Halen reunion tour with singer David Lee Roth is once again a go. The quartet announced a 25-date North American tour Monday, including Oct. 16 at the Allstate Arena and Oct. 18 at the United Center.  More...

New York City Philanthropist Astor Dies
 Source: The Washington Post
Brooke Astor was the grand dame of New York City society and philanthropy _ a woman as comfortable in a Harlem youth center as she was in a Fifth Avenue penthouse. More...
 

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   Top Stories (Continued)


Barclays Quant Hedge Fund Dodges Bullet
 Source: FINalternatives
Barclays Global Investors is expected to give investors in one of its quantitative hedge funds good news today: The fund is down in August, but only a bit.

Compared to many of its fellow quantitative hedge funds, the 32 Capital Fund is only slightly in the red: Dow Jones Newswires reports that the fund’s losses are in the single digits. The fund is now flat year-to-date, which also compares quite favorably to quantitative funds run by AQR Capital Management, Goldman Sachs, Man Group and Tykhe Capital. More...

Hedge fund losses prompt exits as deadline looms
 Source: The Washington Post
For hedge funds, August 15 may be D-Day, when investors rattled by heavy losses demand their money back from big and small portfolios alike.

"We are seeing a 'shoot first and ask questions later' mentality among many investors," said Philippe Bonnefoy, chairman of hedge fund advisory group Cedars Partners, describing how everyone from the wealthy to chief investment officers at endowments are now shunning risk. More...

 Hedge fund managers see opportunity
 Source: The ADVOCATE
Mortgage companies, banks and some hedge funds have been taking financial hits as a result of the mortgage crisis that has swept the lending industry, but many hedge fund managers see it as an opportunity. More...

Rocket scientists end up acting like sheep
 Source: Times Online
Goldman Sachs is playing down the rescue of its black box hedge fund Global Equity Opportunities as a minor housekeeping matter which should have the happy byproduct of delivering good investment returns in future. There’s much more to this episode than that. More...

UPDATE 1-Hedge fund firm Fortress reports wider loss
 Source: Reuters UK
Hedge fund and private equity company Fortress Investment Corp. (FIG.N: Quote, Profile , Research) said on Tuesday that losses widened in the second quarter even as assets under management rose. More...

US takes look at hedge funds and a tax perk
 Source: Moneyweb
U.S. lawmakers are examining yet another tax perk enjoyed by hedge funds: Many of these funds lend money like banks, but unlike traditional lenders, often don't pay U.S. taxes on the profits. More...

Iraq Hedge Fund Launches
 Source: FINalternatives
Iraq Fund Management has launched its first hedge fund, offering investors exposure to that war-torn country.

The Iraq Fund, which began trading on Aug. 1, focuses primarily on state-owned enterprises and the banking sector on the Iraq Stock Exchange in Baghdad. More...

UPDATE: Fortis Buys Wind Energy Hedge Worth Up To $80 Mln
 Source: CNNMoney.com
 European financial giant Fortis on Monday inked a power-purchase agreement with Enel North America Inc. to buy 1.1 million megawatt hours of power for the next 10 years as a hedge against the price of electricity from natural gas. More...


 Today's Stories unabridged on the web
 
 
   Today's Humor
The other day I needed to call home, but the only pay phone I could find was in use. So I stood to the side and politely waited until it was free, thinking it would only be a couple of minutes.

Five minutes went by, and still the man was on the phone. He was just standing there, not saying a word. Two more minutes went by, and he still wasn't talking.

Finally, I tapped him on the shoulder and asked if I could use the phone. I really wouldn't be long, but needed to make an important call.

"Hold your horses," he responded, covering the receiver. "I'm talking to my wife."
 

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