Thursday, October 18, 2007

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 Top Stories


Hedge-Fund Rockers Tap Inner Jagger for Disabled Kids (Update1)
Source: Bloomberg
Last month, at a basement bar in a New York Cajun restaurant, Chris Heasman of Lazard Asset Management and about 20 other hedge-fund executives dressed down in jeans and T-shirts spent the night belting out songs by the Rolling Stones, the Grateful Dead and U2. More...

Da Vinci Soaks Up Volatility, Preps Healthcare Hedge Fund
Source: FINalternatives
German pension schemes are flocking into the Da Vinci Arbitrage Fund and for good reasons: the Zurich, Switzerland-based volatility arbitrage fund is up 22.77% year to date through September. More...

Hedge Funds' Love Puts India in a Tight Corner: Andy Mukherjee
Source: Bloomberg
Investors got a rude shock yesterday. It seemed like India, the second-best-performing equity market in the past month after Chinese stocks in Hong Kong, was spurning their love. More...

Hedge Funds: 'Permanent Capital' Is Back In Fashion
Source: SeekingAlpha
Thomson reports that results from an Ernst & Young survey suggest 13% of hedge fund managers plan to raise what is generally referred to as “permanent capital” in the next two years (free registration required). This comes on the heels of a a good overview of hedge funds IPOs by Opalesque. More...


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

  Term of the Day & Related News

Technical Analysis

"Technical analysis is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends.". In its purest form, technical analysis considers only the actual price behavior of the market or instrument, based on the premise that price reflects all relevant factors before an investor becomes aware of them through other channels. More...
 
Related News:

Adventures in Technical Analysis, Citigroup Edition
Source
: Portfolio.com
David Gaffen notes today that Citigroup shares are now trading at a 2-year low of $43.97 per share. He then quotes this wonderful piece of advice from technical analyst Joseph Hargett:

The $45 level “has not been breached on a weekly closing basis since October 2005, and could be seen as a buy/sell indicator for anyone considering investing in C,” notes Joseph Hargett, analyst at Schaeffer’s Investment Research.
More...

Moving Average: Technical Analysis Every Investor Should Know
Source
: The Daily Reckoning
“What will a company’s share price do?”

“Why will it do it?”

“When will it happen?”

If you can answer the three questions above, then you know all you need to know about a stock. They should be the central themes of any investment analysis. More...

  Scholarly Article & Related News

Hedge Funds and Managed Futures As Asset Classes
by Franklin R. Edwards & Jimmy Liew
This study examines the performance of hedge funds and managed futures as alternative asset classes from 1982 through 1996. It concludes that an investment in a portfolio of either hedge funds or managed futures makes both an attractive stand-alone investment and a performance-enhancing portfolio asset. Including these investments in diversified stock and bond portfolios typically increases the Sharpe ratios of those portfolios by 22.7 to 45.4 percent. Hedge funds and managed futures are complementary asset classes: both enhance portfolio performance but for different reasons. In addition, as asset classes, managed futures and hedge funds have earned positive risk-adjusted returns. Finally, an analysis of performance persistence suggests that some hedge fund managers possess superior skill.
More...

 
Related News:

Exchange chief hints at futures trades for water
Source: Times Online
The prospect that water may eventually join crude oil, pork bellies, orange futures and other commodities traded on global markets was raised in Tokyo today by Craig Donohue, the chief executive of the Chicago Mercantile Exchange.
More...

Stock futures steady ahead of earnings
Source: BusinessWeek
Wall Street moved toward a slightly higher open Thursday ahead of another batch of third-quarter earnings reports and data that will likely show regional manufacturing is slowing.
More...

  Top Stories by Category
  Book of the Day & Related News

   
Dictionary of Financial Risk Management, Third Edition
by Gary L. Gastineau, Mark P. Kritzman
Average Customer Review: 5.0 
out of 5 stars
Price: $34.97
 
Book Description
Gary Gastineau and Mark Kritzman team up once again for the third edition of this classic reference tool designed for financial analysts and managers. Anyone involved in financial risk management must have a proper understanding of the words, terms, and phrases used in this fast paced field and Dictionary of Financial Risk Management clearly provides that understanding.

Related News:

You need not fear market volatility... the India story continues to be as stable as ever
Source: The Indian Express
I have always maintained that in the short term, stock markets are irrational. But yesterday’s 1,744 point, 9 per cent fall foxed even the most hardened among us. That the fall would come was expected, my rounded range was between 600 and 900 points.
More...

Citigroup Acknowledges Poor Risk Management
Source
: The New York Times
Citigroup acknowledged yesterday that its risk management models did not function properly during this summer’s credit crisis, contributing to the company’s 57 percent drop in third-quarter profit. More...

 

  Personal Interest


Democrats dig in heels on kids' health bill as vote nears
Source: CNN
House Democrats will keep fighting to expand the state-run Children's Health Insurance Program even if they fail Thursday to override President Bush's veto, the speaker of the House said. More...

Sony, Toshiba Forming Joint Venture
Source: PC World
Sony Corp., Sony Computer Entertainment Inc. and Toshiba Corp. have decided to pool their resources into a joint venture that will take over manufacturing of the Cell processor and possibly other high-performance chips, they said Thursday. More...

 

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   Top Stories (Continued)


Hedge Connection Announces Member Success Stories
Source: BusinessWire
Hedge Connection Inc. (“Hedge Connection”), the first internet-based research and networking platform for hedge funds and qualified investors, today provided an update on the progress of hedge fund members. More...

INTERVIEW-Russia's Aton to start global expansion in Israel
Source: Reuters UK
Russia's Aton Asset Management will begin making a pitch at Israelis in an attempt to broaden its international investor base, its chief executive said.

"We are looking to find a new investor base," said Mikhail Rozin, chief executive of Aton Asset Management which has $600 million under management, including a global hedge fund. More...


Pension schemes look to hedge longevity risks
Source: IFAonline.co.uk
A total of 60% of companies are looking to hedge longevity risks within their pension schemes, according to research from management consultancy Watson Wyatt. More...

Richard Fleischman & Associates teams with Risk Control Strategies
Source: Finextra
Richard Fleischman & Associates (RFA), a leader in outsourced IT solutions and the trusted advisor to more than 400 hedge funds and private equity firms and Risk Control Strategies (RCS), a leading threat management and risk assessment security consulting firm, today announced the formation of an exclusive partnership. More...

Senate May Seek to Rein In Hedge Funds' Tax Deferral
Source: The Wall Street Journal Online
A plan to dramatically limit hedge-fund managers' ability to put off paying taxes on their compensation is gathering steam in the Senate.
More...

Former Moore Capital trader to launch hedge fund
Source: FinancialNews-US.com
A former commodities trader with New York asset manager Moore Capital Management is opening a hedge fund in London that will focus on commodities, amid a recovery from a tumultuous summer. More...

JPMORGAN JAPAN USES HEDGE FUND STRATEGY FOR NEW INDEX
Source: TradingMarkets.com
JPMorgan Securities Japan Co. has developed a new stock index that applies an investment strategy typically used by hedge funds.

Investment products linked to the index will be privately offered, but the firm plans to eventually offer similar index-based products to a broader range of investors. More...

Princeton Takes Stake In Fund Of Funds, Preps Credit Hedge Fund
Source: FINalternatives
Fixed income specialist Princeton Alternative Investment is looking to give its investor base broader exposure to hedge funds with its latest deal. 
More...


Today's Stories unabridged on the web
 

 
   Today's Humor
My partner and I were in our police car when we were dispatched to break up a domestic dispute. We spoke with the couple and the problem was quickly resolved.

On leaving, I was admiring the craftsmanship of their turn-of-the-century home and reached for what I thought was the front door.

Realizing my mistake, I was turning away in embarrassment when I heard my partner say.... "If you have any more problems, we'll be in your closet."
 

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