Wednesday, September 19, 2007

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“Great is the road I climb, but the garland offered by an easier effort is not worth the gathering.” - Sextus Propertius

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 Top Stories


Aiming for the High End, With Amenities to Match
 Source: The New York Times
To gain an edge in attracting top talent, some New York hedge funds offer their employees an amenity that once was available only in residential buildings: a gym right in the workplace. More...

Asia's hedge fund managers facing tougher test
 Source: Reuters UK
Asia's booming hedge fund industry will be tested in the coming year by heightened volatility that will catch out less talented managers who have coasted along on the multi-year bull run in regional stock markets. More...

Citadel hiring points to IPO
 Source: The Chicago Tribune
Citadel Investment Group has hired the head of investor relations from publicly traded Goldman Sachs Group Inc., a signal the Chicago-based hedge fund is seriously mulling joining the small but growing ranks of hedge funds and private-equity firms doing initial public offerings. More...

 Citigroup's hedge fund unit eyes KVK Energy
 Source: Business Standard
Citigroup Inc.’s hedge fund unit Old Lane LP plans toinvest Rs 1.06 billion ($26 million) in India’s KVK Energy & Infrastructure Pvt., as the world’s second-fastest pace of economic growth lures investors. More...


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

  Term of the Day & Related News

Distressed Securities
Distressed securities are securities of companies that are either already in default, under bankruptcy protection, or in distress and heading toward such a condition. The theory behind investing in these securities is that they often trade at discounts to a rational assessment of their risk-adjusted value for a variety of reasons. The psychological effect of a bankruptcy filing may lead to undervaluation, for example. Or institutional investors often have policies that prevent them from investing in such circumstances, and that automatically means a lessening of demand for the instruments, which may again lead to undervaluation. Distressed Securities have also been defined as securities, if not in default, that have a Yield to Maturity in excess of 1000 basis points over the riskless rate of return. More...
 
Related News:

Distressed debt set for comeback
 Source: FinancialNews-US.com
Distressed debt investors have been starved of trading opportunities over the past five years amid benign credit conditions.

But the market turbulence since June has changed that and the market value of non-defaulted, distressed companies more than doubled in eight weeks. More...

Pimco to launch $2 billion distressed debt fund: report
 Source: Reuters UK
Pacific Investment Management Co is planning to launch a $2 billion distressed-debt fund, The Wall Street Journal reported in its online edition on Thursday.

The Pimco Distressed Mortgage Fund will invest in a variety of assets, including mortgage-backed securities, asset-backed securities and collateralized debt obligations, the Journal reported, citing a Pimco document. Pimco is a unit of Germany's Allianz SE (ALVG.DE: Quote, Profile , Research). More...
  Scholarly Article & Related News

The Valuation of Structured Products: Empirical Findings for the Swiss Market
 by Andreas Grunbichler & Hanspeter Wohlwend
This article analyses the valuation of 192 structured products without a capital guarantee. In contrast to similar studies, this investigation takes in both the primary and the secondary market. Its central element is a comparison of the implied volatilities of the options contained in the structured products with those of comparable EUREX options... More...
 
Related News:

Zurich launches next in the series of Guaranteed Accounts
 Source: Easier Finance
Zurich has launched the next in the series of Guaranteed Capital Accounts, designed to give customers access to a structured product throughout 2007.

Each of the accounts have been open for a set time period and as one product tranche ended a new one opened, ensuring availability throughout the year. More...

 Hong Leong launches Sharia structured fund
 Source: FinanceAsia.com
Hong Leong Tokio Marine Takaful has launched a structured product that provides Malaysian investors with principal protection and returns that are compliant with Islamic law. More...
  Top Stories by Category
  Book of the Day & Related News

   
Market-Neutral Investing
by Joseph G. Nicholas
Average Customer Review: 3.5 out of 5 stars
Price: $44.07
 
Book Description
Managing risk is a weightier issue than ever for professional investors. They're seeking downside protection as they grapple to remain fully invested in a hyper-inflated stock market. Market-neutral investing is one of the hottest strategies for achieving such protection. In this groundbreaking book, industry expert Joseph G. Nicholas opens investors up to new thinking on highly effective approaches to return enhancement and risk reduction through investment diversification.

Related News:

Eight Truly Market-Neutral Funds
 Source: TheStreet.com
The recent one-two punch of the credit crunch and last month's negative jobs report has noticeably raised the decibel level of the bear market talk. More...

Market-Neutral Funds: Three Misconceptions
 Source: SeekingAlpha
Alpha Male has been getting a lot of media inquiries recently about why market neutral funds lost money last month. It’s almost as if some of the more skeptical members of the press now smell blood in the hedge fund water. They see that there were market gyrations in August and that some market neutral funds were down. Ergo, market neutral funds aren’t that “neutral” after all. More...
 
  Personal Interest


IBM offers free office software suite
 Source: The Economic Times
IBM has released a suite of free software tools for creating and sharing documents, spreadsheets and presentations here Wednesday. More...

Markets soar on Fed cuts
 Source: The Age
INVESTORS have been presented with a get-out-jail card, courtesy of the US Federal Reserve.

Markets worldwide are being propelled higher by the Fed's decision to cut US interest rates by half a percentage point rather than by the normal, and more widely expected, quarter point. More...
 

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   Top Stories (Continued)


China's Hot Stock: Orwell Inc.
 Source: The Washington Post
The American economy may be teetering on the brink of a recession, but there's an industry our hedge fund gurus believe has an almost limitless future: the Chinese police state. More...

Deutsche Bank Opens Singapore Hedge Fund Service Desks
 Source: NASDAQ
Deutsche Bank says it has opened two desks in Singapore to provide prime brokerage and financing services to hedge funds. The two desks -- global prime finance and hedge fund capital introduction group are aimed at expanding hedge fund coverage in Singapore. Deutsche Bank joins a growing list of banks attracted by Singapore's fast growing hedge fund industry. More...

 Hit with market angst, hedge fund stars can't splurge
 Source: The International Herald Tribune
On a sun-splashed day this month in Southampton, New York, Harald Grant, a Sotheby's real estate agent, showed his top listing for a hedge fund client. More...

Investcorp to sponsor hedge fund summit
 Source: Gulf Daily News
A hedge fund summit will be held in Bahrain in November. London-based publication Hedge Funds Review, has announced that its third Annual Middle East Summit, sponsored by Investcorp, will be held from November 5 to 7 at the Ritz-Carlton Bahrain Hotel and Spa. It will be attended by Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj. More...

JPMorgan Hedge Fund Services to Provide Fund Administration and Custody Services to Over US$10bn of FRM Fund of Hedge Funds Assets
 Source: PR Newswire
 JPMorgan Hedge Fund Services today announced it has been appointed to provide Fund Administration and Custody services to funds of hedge funds managed by Financial Risk Management (FRM). More...

Plot thickens in Fairfax battle with hedge funds
 Source: The Globe and Mail
A group of prominent American hedge funds have failed to get a $6-billion (U.S.) lawsuit against them by Prem Watsa's Fairfax Financial thrown out of U.S. court. More...

SEC steps up insider trading scrutiny on hedge funds
 Source: FinancialNews-US.com
The Securities and Exchange Commission has issued a questionnaire to hedge fund managers in a new attempt to crack down on insider trading, which has become a principle area of focus for regulators. More...

Emerging Markets Hedge Funds Shine Despite August Drawdowns
 Source: FINalternatives
 Emerging markets has been the top-performing strategy among hedge funds this year, and an awful August hasn’t changed that. More...


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

Recently a crook tried to hijack a bus full of Japanese tourists.

Fortunately the police had 5,000 photographs of the suspect.
 

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