Wednesday, October 10, 2007

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 Top Stories


Shares in Northern Rock soar after hedge fund builds 4 percent stake
 Source: The International Herald Tribune
Shares in Northern Rock PLC soared more than 25 percent Wednesday after hedge fund SRM Global Master Fund said it had built a 4 percent stake in the mortgage lender. More...

London Frieze Art Fair Lures Collectors, Hedge Funds (Update1)
Source: Bloomberg
Hedge-fund art advisers and VIP collectors converged on London's Frieze Art Fair today as dealers fretted that sales would be hurt by financial market turbulence and threatened bonus cuts. More...

UPDATE 2-Hedge fund group issues voluntary standards paper
 Source: Reuters
A group of leading hedge fund executives on Wednesday published recommendations for voluntary standards on governance and disclosure to address criticisms regarding the opaqueness of the fast-growing industry. More...

 Latin America hedge fund performance surges to top index
 Source: FinancialNews-US.com
Latin American hedge fund performance has surged to the top of Hennessee’s Hedge Fund Indices, as international equity, particularly in emerging markets, led last month's recovery from an August slump. More...


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

  Term of the Day & Related News

Emerging Markets
Emerging markets strategies focus on traditional fixed income, value and growth equity investments in markets outside of the United States and Western Europe, including Asia and Latin America as well as Eastern Europe, Africa and the less developed Mediterranean economies. Emerging markets are highly volatile and information relating to the securities traded in these markets is often difficult to obtain. Such inefficient markets offer excellent opportunities for the resourceful manager. More...
 
Related News:

Investors move billions to emerging markets in one week
 Source: FinancialNews-US.com
Investors have moved billions to emerging markets and away from developed markets funds in the last week, as emerging market indices reach record highs.

Emerging markets equity funds have taken in over $5bn for the second week running, meaning that over the past six weeks the funds have taken in a net $18.9bn while posting a collective portfolio gain of 19.7%. More...

ADRs in Focus: Emerging Markets
 Source: Forbes
An index of emerging markets ADRs edged up Monday, boosted by gains in shares of mining companies.

The Bank of New York (nyse: BK - news - people ) Emerging Markets ADR Index - which includes shares of companies based in Hong Kong, South Africa, Brazil, Mexico, China and India - added 5.74 points, or 1.5 percent, to 381.76 in afternoon trading. More...
  Scholarly Article & Related News

Limited Arbitrage in Mergers & Acquisitions
 by Malcolm Baker & Serkan Savasoglu
A diversified portfolio of risk arbitrage positions produces an abnormal return of 0.6 –0.9% per month over the period from 1981 to 1996.We trace these pro fits to practical limits on risk arbitrage. In our model of risk arbitrage, arbitrageurs' risk-bearing capacity is constrained by deal completion risk and the size of the position they hold... More...
 
Related News:

M&A's Revival, SABMiller vs Busch, U.S.'s China Plays: Timshel
Source: Bloomberg
There's a revival under way in billion-dollar takeover offers, and the latest batch of deals shows how this year's credit crunch changed the landscape for mergers and acquisitions.

Six proposals announced yesterday exceeded the $1 billion mark -- matching the highest total for a single day since July, according to data compiled by Bloomberg. Sonepar SA's bid for Hagemeyer NV, the world's third-largest supplier of electrical equipment, led the pack at the equivalent of $3.5 billion. More...

 Market report: Equities buoyed up by rising tide of M&A deals
 Source: Telegraph.co.uk
After last week’s glut of mid-market takeovers, the increasing pace of M&A deals drove shares higher after Southern Water was snapped up by a JP Morgan-led consortium for a punchy £4.19bn and Italian oil and gas giant Eni emerged as a surprise suitor for Burren Energy. More...
  Top Stories by Category
  Book of the Day & Related News

   
The Hedge Fund Edge
by Mark Boucher
Average Customer Review: 4.0 out of 5 stars
Price: $80.00
 
 
Book Description
The Hedge Fund Edge is an indispensable guide for any investor or trader who wants to consistently profit from the markets without having to undergo huge risks. Mark Boucher, hedge fund manager and well-known speaker on trading, provides readers with a solid methodology for achieving market-beating, long-run returns with risk that is substantially below the long-run risk of U.S. and global equities.

Related News:

Matrix Launches Asset-Backed Hedge Fund, Adds To Team
 Source: FINalternatives
The U.K.-based Matrix Group has launched a closed-ended version of its open-ended Asset Based 2 Fund, a fund of hedge funds that invests in 28 underlying managers. More...

EIM, Daiwa To Create Hedge Funds For Japanese Market
 Source: FINalternatives
Hedge fund shop EIM Management USA has formed a strategic partnership with fund research group Daiwa Fund Consulting.

Under the partnership agreement, EIM USA and Daiwa will develop a series of diversified fund of hedge funds products to be introduced later this year to the Japanese marketplace. Terms of the partnership agreement were not disclosed. More...
 
  Personal Interest


German Scientist Wins Nobel Chemistry Prize
 Source: VOA News
The Royal Swedish Academy of Sciences honors Professor Ertl for his groundbreaking studies of chemical reactions on solid surfaces.  More...

Atlantic City Mayor Resigning, Lawyer Says
 Source: The New York Times
First he was missing and now, evidently, he is gone. Mayor Robert W. Levy of this city resigned effective today, The Associated Press reported, saying the information had come from Mr. Levy’s lawyer, Edwin J. Jacobs. More...
 

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   Top Stories (Continued)


Former UST site to house hedge fund
 Source: The ADVOCATE
A second Greenwich-based hedge fund firm has leased a large block of office space at the recently vacated former UST Inc. headquarters in Greenwich, local real estate executives said. More...

For private investment, the party isn't over
 Source: The International Herald Tribune
Just weeks ago, the raucous party for hedge funds and private equity in recent years seemed to be fading.

Subprime woes rattled the stock and credit markets through late summer. Hedge funds were imploding almost daily, squeezed by banks calling in loans and investors demanding their money back. Private equity deals fell apart as the cost of borrowing rose.  More...

 SEBI lift embargo on hedge funds
 Source: The Economic Times
Capital market regulator Sebi has finally lifted the embargo on hedge funds, albeit in a calibrated way. In the past fortnight, close to six hedge funds have been allowed to register with the regulator. More...

Barclays, Hedge Funds to Finance Remy
 Source: CNNMoney.com
The Remy International Inc. plan to restructure its debt depends on borrowing up to $330 million and selling $85 million in new preferred stock _ transactions that would generate millions in fees and interest for Wall Street banks and hedge funds. More...

Cayman watching Jersey hedge fund move
 Source: Cay Compass
 Financial regulators in the Cayman Islands say they are keeping a close eye on developments in Jersey, where regulators are set to announce a ‘zero regulation regime’ for certain hedge funds. More...

Hedge-Fund Manager Wace Sees Stock-Price `Explosion' (Update1)
Source: Bloomberg
Ian Wace, co-founder of the $17 billion hedge-fund manager Marshall Wace LLP, expects an "absolute explosion'' in share prices globally as company profits increase. More...

Lancaster says hedge funds withdraw board slate nominations
 Source: Reuters
Lancaster Colony Corp (LANC.O: Quote, Profile, Research) said a group of hedge fund shareholders has withdrawn its plans to nominate a slate of candidates to the consumer products company's board. More...

Senate unlikely to raise hedge funds tax
 Source: CNNMoney.com
 Senate Majority Leader Harry Reid, D-Nev., plans to scuttle efforts in Congress to more than double the tax rate paid by private equity firms, hedge funds and their managers. More...


 Today's Stories unabridged on the web
 
 
   Today's Humor

Two paramedics were dispatched to check on a 92-year-old man who had become disoriented. They decided to take him to the hospital for evaluation.

En route, with siren going, they questioned the man to determine his level of awareness.

Leaning close, one asked, "Sir, do you know what we're doing right now?"

The old man slowly looked up at him, then gazed out the ambulance window. "Oh," he replied, "I'd say about 50, maybe 55."
 

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