Monday, October 8, 2007

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have relied on for centuries: common sense, thrift, realistic
expectations, patience, and perseverance." - John C. Bogle

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 Top Stories


Goldman Sachs Plans Vehicle To Buy Stakes in Hedge Funds
 Source: The Wall Street Journal Online
Goldman Sachs Group Inc. wants to raise more than $500 million for a private-equity fund that will buy stakes in hedge funds, a person familiar with the matter said. More...

Carnegie and colleagues go where many fear to tread
 Source: The Age
AT FIRST glance, Mark Carnegie and his fellow investors have chosen a strange time to buy into a business distributing international hedge fund and high-yield fixed income products. More...

Hedge funds eye minor metals
 Source: Reuters
For years the preserve of globe-trotting merchants and secretive financiers, the trade in rare and valuable minerals known as minor metals is now on the radar of hedge funds searching for profits. More...

 Hedge-Fund Woes Draw in Bargain Hunters
 Source: The Wall Street Journal Online
This summer's troubles for the hedge-fund industry have whetted the appetite of opportunistic buyers and insolvency experts, who are hunting through the wreckage in search of bargains. More...


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

  Term of the Day & Related News

Due Diligence
Due diligence (also known as due care) is the effort made by an ordinarily prudent or reasonable party to avoid harm to another party. Failure to make this effort is considered negligence. Quite often a contract will specify that a party is required to provide due diligence. More...
 
Related News:

Human Due Diligence
 Source: The Wall Street Journal Online
Someone may soon buy the European bank giant ABN AMRO Holdings. The Royal Bank of Scotland and Barclays are each offering more than $80 billion and investors are waiting to see if a sale goes through.

But if the past is a guide, markets will focus on assets, portfolios and business synergies and overlook a key to whether the deal is successful: people. More...

‘Brand-asset due diligence needed in acquisitions’
 Source: Sify.com
Hutch became Vodafone through a series of high-voltage ads across media, recently.

The pug has been retained, assures Vodafone, as an ‘endearing symbol’ that signals the continuation of ‘the good things’ even as the new company builds on ‘strong fundamentals’. But it may be some time before the new brand name gets etched in the minds of people, and the customers connect with the old pug in its new house. For, rebranding is always a major exercise, especially in the context of big-ticket acquisitions that result in brand changes, as happened in the case of Hutch.  More...
  Scholarly Article & Related News

Commercial Mortgage-Backed Securities: An Exploration into Agency, Innovation, Information, and Learning in Financial Markets
 by Timothy J. Riddiough & Risharng Chiang
This paper tracks a recent financial innovation, the commercial mortgage-backed security, through its early development in an attempt to better understand the dynamics of new product markets. Perhaps most importantly, we document a critical and central role of financial intermediaries in product market development. Instead of assuming a passive credit quality certification role, the rating agency actively controls security architecture and its instrumental in determining product design standards... More...
 
Related News:

Fund manager loads up on mortgage-backed bonds
 Source: The International Herald Tribune
Joseph Balestrino, manager of the Federated Total Return Bond Fund, loaded up on government-backed mortgage debt when credit markets slumped in July and August and other investors sold bonds linked to the housing market. More...

 HSBC Mexico Sells Mortgage-Backed Bonds After Drought (Update2)
Source: Bloomberg
HSBC Mexico SA became the first non- government issuer to sell bonds backed by mortgage loans in Mexico after a two-month drought brought on by the collapse of the U.S. subprime mortgage market. More...
  Top Stories by Category
  Book of the Day & Related News

   
Options, Futures and Other Derivatives (6th Edition)
by John C. Hull
Average Customer Review: 4.5 out of 5 stars
Price: $162.40
 
 
Book Description
Designed to bridge the gap between theory and practice, this successful book is regarded as "the bible" in trading rooms throughout the world. The books covers both derivatives markets and risk management, including credit risk and credit derivatives; forward, futures, and swaps; insurance, weather, and energy derivatives; and more. For options traders, options analysts, risk managers, swaps traders, financial engineers, and corporate treasurers.

Related News:

Banks respond to demand for climate change derivatives
 Source: eFinancialNews.com
A surge in investor appetite for green funds is leading to a boom for investment banks creating bespoke indices and structured products related to them. More...

Property derivatives may debut in S'pore next year: Goldman Sachs
 Source: Channelnewsasia.com
Investors here in Singapore may soon be able to invest in property derivatives, which are based on a property index of real estate assets. More...
 
  Personal Interest


US, UK Scientists Win Nobel in Medicine
 Source: ABC News
Two American scientists and a Briton won the 2007 Nobel Prize in medicine on Monday for groundbreaking discoveries that led to a powerful technique for manipulating mouse genes. More...

Britain to cut Iraq force to 2,500
 Source: The Houston Chronicle
Britain will withdraw nearly half its troops in Iraq beginning next spring, Prime Minister Gordon Brown said Monday, leaving a contingent of 2,500 soldiers in the highly unpopular war. More...
 

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   Top Stories (Continued)


Assets managed by hedge funds in Singapore jump
 Source: Monsters & Critics
Assets managed by hedge funds in Singapore shot up from 7.7 billion US dollars to 16.5 billion US dollars in the first half of this year, a HedgeFund Intelligence report said on Monday. More...

British Coal digs into alternatives
 Source: eFinancialNews.com
The £12bn (€17.3bn) British Coal Staff Superannuation Scheme, one of the 20 largest in the UK, has doubled its allocation to alternative investments including hedge funds and private equity in the past 18 months and has raised its target allocation to alternatives to 20%. More...

 Futures Group backs Amaranth's request for delay
 Source: The Globe and Mail
Defunct hedge fund Amaranth Advisors LLC has found an unlikely ally of a sort in the Futures Group, an organization that counts the New York Mercantile Exchange Inc. and the Chicago Mercantile Exchange Group Inc. among its members. More...

Hedge funds make a beeline for real estate sector
 Source: Business Standard
Global hedge funds, which are on the lookout for multi-fold returns on their investments, are slowly entering the booming domestic real estate sector. More...

Kazakhs Rebuff Hedge Funds
 Source: The Moscow Times
 Kazakhstan's central bank said Friday that it was capable of stabilizing the country's banking system after what it called a "speculative attack" by large hedge funds. More...

Swiss Re buys into Brevan Howard
 Source: Reuters UK
Hedge fund firm Brevan Howard Asset Management said on Friday that reinsurer Swiss Re had agreed to buy a 15 percent stake in the firm. More...

Thomson and Paladyne Team Up to Offer Real-Time Market Data Through Paladyne Hedge Fund Solution
 Source: CNNMoney.com
Thomson Financial, an operating unit of The Thomson Corporation , and a leading provider of information and technology solutions to the global financial services industry, today announced a strategic distribution relationship with Paladyne Systems, Inc., a leading provider of technology solutions to the hedge fund marketplace. As part of the distribution alliance, Paladyne will provide Thomson DataFeed (TDF), a real-time market and pricing data service directly to its customers. Paladyne will distribute the data through its PALADYNE(TM) product suite, a fully-hosted front- to back-office hedge fund solution; and Thomson Financial will act as the agency of record for all exchange level reporting requirements. More...

VICTOR HIT AGAIN
 Source: The New York Post
 Victor Niederhoffer appears to be a two-time loser.

Niederhoffer, the father of modern hedge funds, who lost his entire $130 million portfolio in 1997 when he bet wrong that stocks in Thailand were ready for a bull run but then slowly and carefully rebuilt his business and his reputation, was been forced to shutter his flagship Matador fund last month after getting blindsided by the subprime mortgage meltdown. More...


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

In a spy novel I had just read, the hero hid a letter in a particular statue in Washington, D.C. Since I was in that city at the time, on a whim I decided to see if the statue really contained the small niche the author had described. To my great surprise, it did -- and a cellophane-wrapped letter was inside. After a moment's hesitation, I pulled out the letter, opened it, and burst into laughter.

An unidentified reader had penned, "Good book, wasn't it?"
 

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