Tuesday, October 9, 2007

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 Top Stories


Goldman fund buys stake in hedge fund Winton
Source: Reuters UK
Hedge fund firm Winton Capital Management said on Monday that a new fund run by Goldman Sachs had bought a 9.99 percent stake in the company. More...

Climate Funds Get Hotter
Source: The Wall Street Journal Online
A surge in investor appetite for environmentally friendly investment funds is leading investment banks to create special indexes and structured products related to the industry. More...

Mapping Lampert's next Sears move
Source: CNNMoney.com
Billionaire hedge fund manager Eddie Lampert, who controls Sears Holdings (Charts, Fortune 500), has earned a reputation as a boy wonder of retailing by wringing profits from an aging department store chain. More...

Hedge fund managers fancy Italian getaways
Source: Reuters
The Italian countryside is the vacation destination of choice for high-flying hedge fund managers who are willing to pay $2,000 to $4,000 per person a day to just chill out, said a travel adviser for the wealthy. More...


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

  Term of the Day & Related News

Market Timing

Market timing is the strategy of making buy or sell decisions of financial assets (often stocks) by attempting to predict future market price movements. The prediction may be based on an outlook of market or economic conditions resulting from technical or fundamental analysis.

Whether market timing is ever a viable investment strategy is controversial. Some may consider market timing to be a form of gambling based on pure chance because they do not believe in the possibility of predicting future financial prices. The efficient market theory suggests that financial prices often exhibit random walk behavior and thus can not be predicted with consistency.
More...
 
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Timing investments correctly
Source
: InvestmentNews
As a team of active asset managers, we don't want to own all of the stocks all of the time, to paraphrase P.T. Barnum.

Instead, our objective at Sadoff Investment Management LLC is to avoid industries that are going through bust cycles, such as the current decline of the home-building sector, and select industries and stocks as they enter boom cycles.
More...

Still bullish
Source
: MarketWatch
In early August, when I last surveyed the stock market forecasts of the 10 market timers with the best long-term records, they on balance were quite bullish. And, as we now know with the benefit of hindsight, they were right to be bullish. See Aug. 1 column. More...

  Scholarly Article & Related News

Credit Ratings for Structured Products
by Andrew Carron, Phoebus J. Dhrymes, & Tsvetan N. Beloreshki
In late 2001, Moody’s Investors Service (“Moody’s”) awarded a contract to National Economic Research Associates (“NERA”) to conduct an independent study on aspects of the ratings process for structured products. The study does not attempt to duplicate the process by which a credit rating is awarded. Rather, it compares the performance of rated structured finance products, and aims at evaluating the systematic differences, if any, created through the rating processes employed by the major credit rating agencies...
More...

 
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Bear Stearns hires two for structured equity in Europe
Source: Structured Products
Bear Stearns has hired two managing directors in its London-based European structured equity products team. Shilpa Amin, who joins from Nomura, will be responsible for setting up a Ucits III Funds platform. Olivier Mathys will be responsible for certificate sales in Switzerland as part of Bear Stearns’s Best Markets certificates platform.
More...

Structured products on the rise, says Keydata
Source: MoneyMarketing
Keydata Investment Services is launching a new core investment to its dynamic growth plan as it recognises a growing interest for structured products.
More...

  Top Stories by Category
  Book of the Day & Related News

   
 
Book Description
A contributed handbook on the complexities of portfolio management that includes the most up-to-date findings from leading practitioners in the fixed income securities market.

Related News:

Analysts' Recommended Equity and Fixed Income Allocations
Source: SeekingAlpha
Below we highlight the historical asset allocations for equities and fixed income recommended by analysts. Currently, the analyst consensus is to have a portfolio weighted 63.7% in equities, 25.7% in bonds and 9.5% in cash. Historically, analysts have followed the price of the S&P 500 in their equity recommendations.
More...

Downturn hits banks' fixed-income trading
Source
: Telegraph.co.uk
For years, fixed income, the dull younger brother of the investment banking family, has brought home the bacon on an annual basis.

Not for its bankers the chunky fees from advising on global mergers or strategic investments. More...

 

  Personal Interest


Google ads come to video
Source: Times Online
Google is offering website owners who embed video clips from YouTube, its online video-sharing service, into their own sites the chance to make money through advertising. More...

Extreme Heat Raises New Questions for Races
Source: The New York Times
The unusual heat and humidity that plagued major road races Sunday has event organizers reviewing their preparations for those conditions — and their plans for future races. More...

 

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   Top Stories (Continued)


30 second guide to alternative investments
Source: ThisIsMoney.co.uk
What are they?

They can include anything other than traditional, run-ofthe-mill securities like shares, bonds, money market investments or cash. There are plenty exotic financial products that let you buy into commodities, derivatives, hedge funds, real estate, private equity and venture capital. Asset-backed securities, such as collateralised debt obligations (CDOs), have also been popular but, as the market has recently seen, come with big risks attached. More...

Hedge funds were prepared for credit crisis
Source: FinancialNews-US.com
Robert Discolo, head of the hedge fund strategies group at AIG Investments, welcomed the downturn caused by the summer’s credit crisis. More...


Pricing Tactics Of Hedge Funds Under Spotlight
Source: The Wall Street Journal Online
New academic research suggests that some hedge-fund managers may cherry-pick flattering prices when valuing securities that don't actively trade in an effort to improve the performance of their funds. More...

RBS on brink of declaring victory in ABN battle
Source: The Los Angeles Times
Standing atop the wreckage of sub-prime mortgage securities and the resulting seizure in the credit markets is Goldman Sachs Group Inc., increasingly perceived as the world's biggest hedge fund. More...

Why alternative asset classes slow in attracting funds
Source: The Edge Daily
About 50% of trustees and fund sponsors in Kuala Lumpur and Singapore are concerned that diversification into alternative assets may dilute the expected rate of return, according to a survey by Watson Wyatt Worldwide, a global consulting firm.
More...

Ellington Freezes Withdrawals From Two Mortgage Funds (Update3)
Source: Bloomberg
Ellington Management Group LLC, the Old Greenwich, Connecticut-based hedge-fund firm that focuses on mortgage securities, suspended client redemptions from two funds because it's too hard to value their assets. More...

Hatteras targets $500m for venture capital funds
Source: FinancialNews-US.com
Hatteras Investment Partners, an advisory firm co-founded by Mark Yusko, is raising $500m (€355.8m) for a private placement fund of funds, joining the growing investment in late-stage venture capital. More...

U.S. hedge funds made money in September: data
Source: Yahoo! News
The average U.S. hedge fund made money in September, swinging back into the black one month after posting its first losses this year, according to data released on Monday.
More...


Today's Stories unabridged on the web
 

 
   Today's Humor

His beloved old white convertible was in deplorable shape, but he refused to get rid of it. So when the old junker was stolen from his office parking lot, his family was delighted. Nonetheless, they called the police and filed an insurance claim.

Their relief was short-lived, within an hour an officer was on the phone. "We found the car less than a mile away," he said, trying to restrain himself. "It had a note on it that read, 'Thanks anyway, we'd rather walk.'"

 

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