Monday, August 20, 2007

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 Top Stories


Financial News: Hedge Funds In Flight To Quality
 Source: CNNMoney.com
Prime brokers have seen a flight to quality by hedge fund clients, who have transferred up to $50 billion (EUR37 billion) of assets from higher-risk banks to the prime brokerage operations of commercial banks with bigger balance sheets and better credit ratings. More...

Monsoon Capital to reopen India flagship fund
 Source: The Economic Times
At a time when the Indian equity market has been volatile, a top performing US-based, India-dedicated hedge fund has decided to reopen one of its main funds to raise additional capital. More...

Solent Capital to wind down fund
 Source: MarketWatch
U.K. hedge-fund manager Solent Capital said Monday it was going to wind down one of its funds because of a downturn in value in the asset-backed securities it contains, the latest fallout from the global credit crisis. More...

 European trade unions call on EU Commission to act to end hedge fund growth
 Source: Forbes
The European Trade Union Confederation (ETUC) has called on the European Commission to 'act decisively' to help end the growth of hedge funds and derivative markets which it sees as responsible for recent market turmoil. 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.

Combinations of derivatives and financial instruments create structures that have significant risk/return and/or cost savings profiles that may not be otherwise achievable in the marketplace. Structured products are designed to provide investors with highly targeted investments tied to their specific risk profiles, return requirements and market expectations. More...
 
Related News:

Morgan Stanley introduces three structured products
 Source: Investment Week
Morgan Stanley is to launch three structured products - the FTSE Capital Plus Plan 8, FTSE Protected Growth Plan 19 and Emerging Markets Growth Plan 3, all of which open for subscription from 30 August.

FTSE Capital Plus Plan 8 has a six-year term and offers full capital protection plus the greater of 30% growth or 65% of the rise in the index. More...

Julius Baer hires head of structured products from Clariden Leu
 Source: Structured Products
Switzerland’s Julius Baer has hired Richard Loretan from Clariden Leu as head of structured products. Zurich-based Loretan will start on January 1 2008 and will report to Peter Gerlach, head of markets.

Loretan will be responsible for expanding Julius Baer’s structured products unit to cover all asset classes and product offerings. He will also be responsible for increasing the distribution of structured products, developing innovative investment solutions and reducing time-to-market for the delivery of offerings. More...
  Scholarly Article & Related News

The Test of Market Efficiency and Index Arbitrage
 by Jedrzej Bialkowski & Jacek Jakubowski
The efficiency of the market for stock index futures and profitability of arbitrage for contracts on the Warsaw Stock Exchange Index WIG20 is studied in this paper. The Polish market has unique attributes, namely in relatively short time the risk-free interest rate decreased significantly, short sale cannot be used to construct arbitrage position by institutional investors and the dividends are small and paid in irregular manner. Previous studies has not presented the examination of arbitrage on market characterized by mentioned properties... More...
 
Related News:

GLOBAL MARKETS-US stocks dip, global indexes fly on Fed relief
 Source: Reuters
U.S. stocks fell on Monday as bank shares slid and lower oil prices hurt the energy sector, but benchmark indexes in Japan and Europe soared as investors weighed the chance of more Federal Reserve action after Friday's cut in the discount rate on its loans to banks. More...

 Shanghai indices track art for investment's sake
 Source: Reuters UK
In Shanghai, even the art market is in a bull run -- just take a look at the indices.

Would-be art investors can turn to the "Chinese Painting 400" or the "Oil Painting 100", and chart the rising prices of paintings from a favourite artist or genre. More...
  Top Stories by Category
  Book of the Day & Related News

   
Wine Investment for Portfolio Diversification
by Michael Broadbent (Foreword), Mahesh Kumar
Price: $29.70
 
Book Description
Financial wizard Mahesh Kumar shows how to guard against the inherent riskiness of the stock market while still reaping the benefits of a profitable portfolio in his new book Wine Investment for Portfolio Diversification: How Collecting Fine Wines Can Yield Greater Returns than Stocks and Bonds. It’s a thorough piece of academic analysis, which combines the Nobel Prize winning Markowits Theory and Kumar’s Fine Wine Fifty Index and empirically proves that Fine Wine is one of the best diversification tools available (whether you’re high-finance or a modest personal investor).

Related News:

A 3-D Take on the Market: Defense, Diversification and Discipline
 Source: The Washington Post
The recent stock market plunge has whiplashed many investors and left them wondering what to do about their portfolios.

But in times like these, don't panic. Instead, you want to think about the three D's, says Erik Davidson, a chartered financial analyst and senior director of investments at Wells Fargo Private Bank in Denver. More...

Diversify – into cash
 Source: Times Online
FOR investors, one of the big themes of the past few years has been diversification. Awed by the well-publicised success of Yale University’s money manager, David Swensen, who has returned an average of 16%-17% per annum every year since 1987, institutional investors around the world have concluded that his strategy is the best ever. More...
 
  Personal Interest


Democratic Presidential Hopefuls Debate in Iowa
 Source: NPR
All eight major Democratic presidential candidates sparred in Des Moines in a televised debate. The two biggest questions in the debate had to with too much and too little: Does frontrunner Hillary Clinton of New York have too much baggage to win the general election? And does Barack Obama have too little experience to do the job of president of the United States? More...

64-core chip promises to be a big leap ahead
 Source: Boston.com
A company that's pioneering a new chip architecture based on research from the Massachusetts Institute of Technology's computer science lab is disclosing today that it has begun to ship a 64-core processor, promising dramatic advances in powering devices for the networking and multimedia industries. More...
 

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   Top Stories (Continued)


Atticus Raises Freeport-McMoRan Stake
 Source: Forbes
Hedge fund Atticus Capital LP has raised its stake in mining company Freeport-McMoRan Copper & Gold Inc. to 7.5 percent, according to a regulatory filing Monday with the Securities and Exchange Commission. More...

The Changing Face of Institutional Investment Management and the Role of Hedge Funds in the US
 Source: BusinessWire
Research and Markets (http://www.researchandmarkets.com/reports/c66154) has announced the addition of “How to Start and Grow a Successful Hedge Fund in the US” to their offering. More...

 Fund manager eschews predictable herd mentality
 Source: InvestmentNews
As funds of hedge funds go, the Cogo Wolf Global Strategies Fund LP is not likely to be accused of following the crowd.

The $65 million fund, the flagship product of San Francisco-based Cogo Wolf Asset Management LLC, was established in March 2006 after the strategy had built up a 12-year track record as a separately managed account. More...

Hedge fund performance trails equity indexes in quarter
 Source: Pensions & Investments
Hedge fund performance in the second quarter was positive, with average fund performance of 5.04% for funds with more than $100 million under management, according to data from Morningstar Inc., Chicago. More...

Hedge funds sold down their ABN holdings -newspaper
 Source: MarketWatch
The crisis in the credit markets has renewed concerns about the consortium led by the Royal Bank of Scotland Group PLC (RBS.LN) and the financing of its EUR71 billion offer for ABN Amro Holding NV, according to The Daily Telegraph on Monday. More...

Renaissance hedge fund down 1.35 pct in August
 Source: Reuters
The Renaissance Institutional Equities Fund, a $26 billion-plus hedge fund founded by investor James Simons, has recovered somewhat from losses and is now down only 1.35 percent in August, a person familiar with the firm said on Monday. More...

Strict conduct code needed for hedge fund managers
 Source: InvestmentNews
The opportunity for a self-regulatory approach for hedge fund managers has never been greater — or the need more urgent.

The matter of regulation is of particular interest, given several important trends. Daily reports about hedge fund failures continue to concern regulators. More...

China eyes investing in private equity, hedge funds
 Source: Reuters
 The steep paper losses that China has suffered on its $3 billion investment in Blackstone Group (BX.N: Quote, Profile , Research) will not deter its embryonic sovereign wealth fund from making further investments in private equity and hedge funds, according to a senior official. More...


 Today's Stories unabridged on the web
 
 
   Today's Humor
A mushroom walks into a bar and orders a drink.

The bartender looks at him and says, "Sorry, we don't serve your kind here."

The mushroom looks at him and says, "Why not, I'm a fungi."
 

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