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Top Stories |
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Iowa Seeks Funds Of Hedge Funds For $600M Mandate
Source:
FINalternatives
The $20 billion Iowa Public Employees Retirement System has
issued a request for proposal for one or more fund of hedge
funds manager as the final stage for its portable alpha program
implementation.
More...
Diederich leaves Credit
Suisse for hedge fund
Source:
Structured Products
Stephane Diederich will join hedge fund manager Brevan Howard on
September 19, after 13 years at Credit Suisse, which he leaves
as managing director, head of equity derivatives product
management. Diedrich joins Brevan Howard as a partner tasked
with setting up an alternative CDO business, which will feature
non-credit underlyings.
More...
Paladyne Sees Tighter Relationship Between Hedgies And Their
Primes
Source: FINalternatives
There’s a shift underway in the relationship between hedge funds
and their prime brokers toward a new partnership model, where
both sides adapt their business models to the increasing growth
in the hedge fund industry.
More...
No move to regulate hedge funds: Damodaran
Source:
Moneycontrol.com
Sebi Chairman M Damodaran says the jury is still out on the role
of hedge funds in a market, and whether they are a positive or a
negative presence. With global markets grappling with how to
define, register and regulate hedge funds, Damodaran says that
as of now, there is no move to regulate such funds in the Indian
markets.
More...
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Term of the Day & Related News |
Distressed Securities
Distressed securities
are securities of companies that are either already in default,
under bankruptcy protection, or in distress and heading toward
such a condition. The theory behind investing in these
securities is that they often trade at discounts to a rational
assessment of their risk-adjusted value for a variety of
reasons. The psychological effect of a bankruptcy filing may
lead to undervaluation, for example. Or institutional investors
often have policies that prevent them from investing in such
circumstances, and that automatically means a lessening of
demand for the instruments, which may again lead to
undervaluation. Distressed Securities have also been defined as
securities, if not in default, that have a Yield to Maturity in
excess of 1000 basis points over the riskless rate of return.
More...
Related News:
Recent Market
Volatility's Effect on Distressed Investing
Source:
EarthTimes.org
Recent fallout from the subprime housing market,
increasing credit worries, and rising energy prices are
sending investors scrambling. How will this affect the
current landscape and future outlook for distressed
investing? iiBIG's Distressed & Turnaround Investment
Forum, scheduled for September 24-25, 2007, at The
Flamingo in Las Vegas will cover these issues and more.
This two-day, two-track conference is designed for
distressed and turnaround investors, managers, advisors,
lenders, consultants, counsel, and other leading
players.
More...
Marathon Runs At
Sub-Prime Opportunity
Source:
FINalternatives
It’s been a loser so far in the sub-prime realm this
year, but Marathon Asset Management has a plan to turn
its luck around.
The New York-based hedge fund has announced plans to
launch a distressed mortgage fund, seeking to take
advantage of the “fallout and carnage” wreaked by the
sub-prime swoon, MarketWatch reports.
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Scholarly Article & Related News |
Index arbitrage with
heterogeneous investors: A smooth transition error
correction analysis
by
Yiuman Tse
The traditional index arbitrage model assumes a constant
threshold mispricing between the futures and cash prices for
all investors. Allowing for heterogeneity in investors‘
transaction costs, objectives, and capital constraints, we
model the intraday mispricing of DJIA futures as a smooth
transition autoregressive (STAR) process with the speed of
adjustment toward equilibrium varying directly with the
mispricing. We show that the observed mean reversion in
mispricing changes is
induced by heterogeneous arbitrageurs, instead of a
statistical illusionœinfrequent trading of index portfolio
stocks...
More...
Related News:
Major Indexes
Volatile But Off Lows
Source:
CNNMoney.com
The stock market continued to struggle for direction as
it headed into the afternoon.
Just before 1 p.m. ET, the S&P 500 led the market with a
0.5% gain. The S&P 500 briefly violated its 200-day
moving average line but has since climbed back above
that key benchmark.
More...
Morgan Stanley to
take indices public
Source:
FinancialNews-US.com
Morgan Stanley has said it plans to sell a minority
stake in its equities index service on the public
markets in its second spin-off this year, as the
investment bank strips down to its core businesses.
More... |
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Top Stories by Category |
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Book of the Day & Related News |
Book Description
For buyers of a business or anyone involved
in any phase of the due diligence process,
Gordon Bing provides a unique,
comprehensive, one-volume source of
information and guidance. His book will help
investors research, evaluate, and understand
an existing or proposed business not only
from a financial standpoint, but also from
equally important nonfinancial standpoints.
It provides a full explanation of the due
diligence process, including systematic
methods to determine the information you
need, why you need it, and how to get it. |
Giving diligence its
due
Source:
The Financial Times
In 2005 Refco, one of the largest US futures brokerages,
went bankrupt after Phillip Bennett, its chief
executive, was arrested on fraud charges.
As investors lost millions of dollars, there was
embarrassment on Wall Street, beginning with the
investment banks that had taken Refco public in a
much-hyped listing a few months earlier.
More...
Due diligence report
advised for offplan investment success
Source:
The London Stock Exchange
Investors considering buying property in emerging
markets have been urged to consider due diligence
reports in order to minimise the risks involved, one
expert has warned.
More...
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Personal Interest |
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Charles Simic named
as 15th U.S. poet laureate
Source:
Reuters
American poet Charles Simic was named on Thursday as the
United States' 15th poet laureate by the Library of
Congress which described his poetry as accessible with
some flashes of ironic humor.
Simic, 69, who was born in Yugoslavia but immigrated to
the United States when he was 16, will take up his
duties in the fall, opening the Library's annual
literary series, the Librarian of Congress James
Billington said in a statement.
More...
Russia ahead in
Arctic 'gold rush'
Source:
BBC News
The Russians are leading a new "gold rush" in the high
north, with a bold attempt to assert a claim to oil, gas
and mineral rights over large parts of the Arctic Ocean
up to the North Pole.
More...
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