Tuesday, September 4, 2007

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 Top Stories


Hedge Summer: Who Built Their Dollars
 Source: The Wall Street Journal Online
Summer vacation is over, and hedge-fund investors are getting down to business: In with distressed-debt specialists, hedge funds sitting on cash and those betting on volatility. Out with some brand-name funds and activists. And don't count out those quants just yet. More...

Turbulent markets may change UK and US's hedge fund stance - Steinbrueck UPDATE
 Source: Forbes
The USA and UK are likely to change their stance on hedge fund transparency regulation in view of the recent market turbulence, the German finance minister Peer Steinbrueck said at a conference. More...

Gartmore raises extra $200m for fund
 Source: The Financial Times
Gartmore has raised more than $200m (€147m) extra for a hedge fund run by star manager Roger Guy, confirming that many investors are prepared to put in new money in spite of fund implosions and choppy markets. More...

 Hedge Fund Investors More Rational Than Rash, Says Dallas Fed's Economic Letter
 Source: EarthTimes.org
Hedge fund investors' tendency to focus on long-term performance strengthens hedge fund stability, according to the August issue of the Federal Reserve Bank of Dallas' Economic Letter. More...


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

  Term of the Day & Related News

Structured Products
Structured products are synthetic investment instruments specially created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used: as an alternative to a direct investment; as part of the asset allocation process to reduce risk exposure of a portfolio; or to utilize the current market trend.

Combinations of derivatives and financial instruments create structures that have significant risk/return and/or cost savings profiles that may not be otherwise achievable in the marketplace. Structured products are designed to provide investors with highly targeted investments tied to their specific risk profiles, return requirements and market expectations. More...
 
Related News:

Difference forms of structured products
 Source: GulfNews.com
Structured products are linked to or based on the cash flows of one or more underlying assets that may include equity, debt, interest rates, commodities and indices.

They may typically be classified under categories such as equity-linked notes, foreign exchange and commodity-linked notes interest rate-linked notes and multi asset-linked notes under the following categories. More...

Structured-Products Head Is Set to Leave HSBC
 Source: The Wall Street Journal Online
Rick Ziwot, global head of HSBC's structured credit products group based in New York, is set to leave the bank, a spokesperson for HSBC confirmed Thursday. 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:

Fast Retailing to invest up to $3.5 bln in M&A
 Source: Reuters
Japanese casual wear retailer Fast Retailing Co Ltd (9983.T: Quote, Profile, Research) said it still plans to invest up to 400 billion yen ($3.5 billion) on acquisitions, one month after it lost a bidding war for upscale retailer Barneys New York. More...

 Merger Arbitrage on the Sirius/XMSR Deal
 Source: SeekingAlpha
Merger arbitrage is an investment strategy often used by hedge funds. There are many ways to play a merger, but the arbitrage is basically the delta between the deal as announced and the current spread between the merging parties. More...
  Top Stories by Category
  Book of the Day & Related News

   
Real Estate Backed Securities
by Frank J. Fabozzi, John N. Dunlevy
Price: $37.77
 
Book Description
Real Estate-Backed Securities provides today s most concise yet comprehensive understanding of passive real estate investing. Issues discussed include agency passthrough securities and mortgage strips, agency collateralized mortgage obligations, nonagency residential MBS, commercial mortgage-backed securities, and more.

Related News:

Thornburg Completes $1.4 Billion Financing of Loans (Update2)
 Source: Bloomberg
Thornburg Mortgage Inc., the jumbo home-loan specialist, sold bonds backed by $1.44 billion of mortgages to pay down credit lines and free up financing to accelerate new lending. More...

Still Want Mortgage-Backed Bonds? Go Dutch
 Source: Forbes
Investing in mortgage-backed securities may not seem like the smartest move at the moment, but on Thursday the ratings agency Moody's said that rigorous underwriting criteria and improved credit quality made Dutch securities among the best-performing in Europe. More...
 
  Personal Interest


US explorer Steve Fossett goes missing
 Source: Times Online
The record-breaking American adventurer Steve Fossett has gone missing, it emerged tonight.

A search was underway through hundreds of miles of rugged terrain in Nevada after contact was lost with Fossett yesterday evening. More...

Obama Proposes Ethics Reform Plan
 Source: ABC News
Democratic presidential hopeful Barack Obama on Tuesday proposed centralizing and expanding the regulation of lobbyists to reduce the influence of special interest money in Washington. More...
 

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   Top Stories (Continued)


$32B Pulled From Hedge Funds in July
 Source: Forbes
Investors pulled an estimated $32 billion out of hedge funds in July, the most since 2000, and August could be even worse, according to one report. More...

Deutsche Bank Sees Some Impact From Credit-Market Problems
 Source: The Wall Street Journal Online
Deutsche Bank AG said in a surprise trading update Tuesday that it has had some impact from recent credit market problems, but said it hasn't made unsecured loans to hedge funds and that its margin calls are being met. More...

 Geronimo Folds Hedge Funds
 Source: FINalternatives
Denver-based Geronimo Financial Asset Management board of trustees last month voted to close the firm’s trio of hedge funds. More...

Hedge funds change the system
 Source: FinancialNews-US.com
Easy money has turned into difficult market conditions and hedge funds are looking for better systems and procedures to help manage portfolios and risk. More...

Hedge funds say to run board slate at ATS
 Source: Reuters
Two hedge fund shareholders of Canada's ATS Automation Tooling Systems Inc (ATA.TO: Quote, Profile , Research) said on Tuesday they will propose a new slate of directors at the company's annual meeting next week. More...

U.K.'s Synapse Closes Fund Weighed Down by Mortgages
 Source: The Wall Street Journal Online
A British hedge fund backed by a beleaguered German bank and exposed to U.S. mortgages has shut its doors in a move that underscores the credit-market downturn's continuing effects on European investors and institutions. More...

Hong Kong Hedge Fund Beefs Up Team
 Source: FINalternatives
Hong Kong-based hedge fund Thaddeus Capital is adding to its team with the hire of Grant Chan. In his new role, Chan, who joins the firm from Cazanove, will focus on event-driven and special-situations funds for the firm, which opened its doors on June 1.  More...

South Africa: FSB Sets Hedge Fund Regulations
 Source: AllAfrica.com
 THE Financial Services Board (FSB) has published regulations governing SA's nascent hedge fund industry, amid global concerns about the need to heighten monitoring of the activities of hedge funds. More...


 Today's Stories unabridged on the web
 
 
   Today's Humor
One Sunday morning the pastor noticed little Johnny was standing staring up at the large plaque of names that hung in the foyer of the church. The young man of seven had been staring at the plaque for some time, so the pastor walked up and stood beside him and gazing up at the plaque, he said quietly, "Good morning, son."

"Good morning pastor," replied the young man not taking his eyes off the plaque. "Sir, what is this?" Johnny asked.

"Well son, these are all the people who have died in the service," replied the pastor. Soberly, they stood together staring up at the large plaque.

Little Johnny's voice barely broke the silence when he asked quietly, "Which one sir, the 8:30 or the 10:30?"
 

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