tag:blogger.com,1999:blog-343922742024-03-06T21:00:19.571+01:00Hedge Fund NewsCreative VolatilityAlex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.comBlogger1411125tag:blogger.com,1999:blog-34392274.post-47518252452607645232015-06-10T02:15:00.000+01:002015-06-10T02:15:14.788+01:00Bernanke To Advise At PIMCO After Testing The Hedge Fund WatersThe former chairman of the US Federal Reserve has joined another institution not regulated by the Fed.
From now on Ben Bernanke will be lead consultant at Deutsche Bank, Pacific Investment Management Company (PIMCO), which monitors assets of approximately $1.59 trillion.
“The Fed does not regulate Pimco or its parent or any other firm that is affiliated with it,” Bernanke said, according to Reuters. “So there is no contact.”
Bernanke himself removed the entities out from under his jurisdiction while in office.
Citadel Investment, the hedge fund founded by billionaire Ken Griffin and one of the largest on Wall Street, hired the former economic adviser to George W. Bush in mid-April. Citadel manages over $25 billion in assets under management.
Former Reagan adviser and Chairman of the Federal Reserve from 1987 to 2006, Alan Greenspan, previously accepted a position as a consultant at PIMCO as well as hedge fund Paulson & Company.
Just over a month ago Jeremy C. Stein, who left the Fed last May, agreed to join as an advisor to BlueMountain Capital Management.
Bernanke, who had been sympathetic to the criticism of public opinion towards these ‘revolving doors’, explained that both of his positions are outside the regulation of the Fed, so he will not be doing any ‘lobbying’.
“I wanted to avoid the appearance of a conflict of interest,” Bernanke said, according to the NYT. “I ruled out any firm that was regulated by the Federal Reserve.”
The former Fed Chairman will combine his work as a PIMCO and Citadel with his current job as a researcher at the Brookings Institute and his activity as a lecturer and waiting to publish next October his book ‘The courage to act’ in which looks back on his years as head of the Fed in which had to deal with the worst economic and financial crisis since the Great Depression.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-69353819235601058752015-06-10T02:08:00.004+01:002015-06-10T02:13:19.404+01:00Elliott Commences Legal Proceedings for an Injunction Against Samsung C&T and its Directors Elliott, the hedge fund with $26 billion under management, today made the following statement:
"Elliott continues to believe that the proposed takeover is clearly neither fair to nor in the best interests of Samsung C&T's shareholders, and that it is unlawful. Elliott has therefore taken the step today of commencing legal proceedings for an injunction against Samsung C&T and its directors in order to seek to prevent the proposed takeover from going ahead and thereby protect the interests of Samsung C&T's shareholders."Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-16989483301725518082015-06-10T02:06:00.004+01:002015-06-10T02:06:59.028+01:00Starting up this site againSince the winding down of my news page on HedgeCo, I will start this site up again. As soon I figure out this Icelandic keyboard.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-86179646107388367722015-06-10T02:03:00.003+01:002015-06-10T02:04:28.124+01:00Blackstone To Hedge On Canadian DiamondsBlackstone Tactical Opportunities has acquired a 20% equity position in a leading Canadian diamond exploration and development company, according to reports.
Blackstone has purchased the shares from Stornoway for $250 million. The hedge fund giant also bought into a minority ownership interest in the Renard diamond stream, a $946 million project to mine diamonds in Québec.
“Blackstone’s global presence and their long-established status as one of the world’s leading investment firms make them ideally suited to Stornoway as we work to build a world class diamond mining company.” Matt Manson, President and CEO at Stornoway, said.
“The Renard Diamond Project is fully financed and permitted for development of an open pit and underground diamond mine that is expected to produce an average of 1.6 million carats per year over an initial 11-year mine life, representing approximately 2% of global diamond supply by value.“ Blackstone said in a press release.
Blackstone Group, a hedge fund with over $300 billion, broke all of their asset and earnings records in the first quarter in the First Quarter 2015 , their economic net income has doubled since 2014, while their distributable earnings rose nearly 160%.
Some of last year’s highlights:
In 2014 Blackstone announced that it will spin off its Advisory, Restructuring, and Park Hill businesses in 2015.
Blackstone completed equity capital markets activity of over $20 billion, including initial public offerings of La Quinta, PBF Logistics LP, Michaels Stores, Catalent, Travelport, and Vivint Solar.
BAAM, Blackstone’s Hedge Fund Solutions business, launched a UCITS fund in Europe, as well as its second mutual fund.
Blackstone’s Real Estate business launched its Core+ platform to focus on stabilized real estate in major markets.
Blackstone portfolio company Black Rhino and Dangote Industries announced a commitment to jointly invest up to $5 billion over the next five years in energy infrastructure projects across Sub-Saharan Africa.
The firm also announced that it had hired 20,000 veterans in twenty months through its portfolio since its April 2013 commitment to hire 50,000 in five years.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-53796797023185258872014-11-21T20:54:00.002+01:002014-11-21T20:54:49.986+01:00Hedge Fund Radio<div id="yiv6788688477" style="background-color: white; font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13px;">
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Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-75291324511905833602011-10-05T16:12:00.003+01:002011-10-09T11:39:43.635+01:00Live #OccupyWallStreet Updates<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
<strong>Saturday: 10/8/11</strong><br />
Day 22<br />
<div id="paragraph1"><a _mce_href="http://www.nbcnewyork.com/news/local/Occupy-Wall-Street-OWS-New-York-City-protests-protesters-washington-square-park--131382728.html" href="http://www.nbcnewyork.com/news/local/Occupy-Wall-Street-OWS-New-York-City-protests-protesters-washington-square-park--131382728.html" target="_blank">ABC:</a> An expedition of protesters from the Occupy Wall Street movement is scheduled to hold a "general assembly" at 3 p.m, in Washington Square Park . Which they describe as an opportunity to recruit new supporters and share ideas.</div><a _mce_href="http://abcnews.go.com/blogs/politics/2011/10/cain-calls-occupy-wall-street-protesters-anti-capitalism-tells-them-to-move-to-the-white-house/" href="http://abcnews.go.com/blogs/politics/2011/10/cain-calls-occupy-wall-street-protesters-anti-capitalism-tells-them-to-move-to-the-white-house/" target="_blank">ABC News reports</a> that GOP presidential candidate Herman Cain reiterated his criticism of the Occupy Wall Street protesters Friday, saying the groups are “anti-capitalism” and “anti-free market.”<br />
<a _mce_href="http://www.theday.com/article/20111008/NWS12/310089977/1017" href="http://www.theday.com/article/20111008/NWS12/310089977/1017" target="_blank">Connecticut's version</a> of "Occupy Wall Street" had its largest gathering to date Friday as more than 200 people joined an "Occupy Hartford" march through downtown and prepared to camp in a park.<br />
<a _mce_href="http://www.benjerry.com/activism/occupy-movement/" href="http://www.benjerry.com/activism/occupy-movement/" target="_blank">Ben & Jerry’s</a> made the following statement:<br />
<blockquote>"We, the Ben & Jerry’s Board of Directors, compelled by our personal convictions and our Company’s mission and values, wish to express our deepest admiration to all of you who have initiated the non-violent Occupy Wall Street Movement and to those around the country who have joined in solidarity. The issues raised are of fundamental importance to all of us."<strong><a _mce_href="http://www.hedgeco.net/news/wp-content/uploads/2011/10/download.jpg" href="http://www.hedgeco.net/news/wp-content/uploads/2011/10/download.jpg"><img _mce_src="http://www.hedgeco.net/news/wp-content/uploads/2011/10/download-300x175.jpg" alt="" class="alignright size-medium wp-image-25332" height="175" src="http://www.hedgeco.net/news/wp-content/uploads/2011/10/download-300x175.jpg" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; float: right;" title="download" width="300" /></a></strong><br />
The company specified:</blockquote><ul><li>The inequity that exists between classes in our country is simply immoral.</li>
<li>We are in an unemployment crisis. Almost 14 million people are unemployed. Nearly 20% of African American men are unemployed. Over 25% of our nation’s youth are unemployed.</li>
<li>Many workers who have jobs have to work 2 or 3 of them just to scrape by.</li>
<li>Higher education is almost impossible to obtain without going deeply in debt.</li>
<li>Corporations are permitted to spend unlimited resources to influence elections while stockpiling a trillion dollars rather than hiring people.</li>
</ul><a _mce_href="http://www.cbsnews.com/video/watch/?id=7383837n" href="http://www.cbsnews.com/video/watch/?id=7383837n" target="_blank">CBS Video</a>: At the Value Voters Summit on Friday, Rep. Eric Cantor (R-Va.) said he is "increasingly concerned" by "Occupy Wall Street" demonstrations which began in New York and spread to other major cities.<br />
<a _mce_href="http://opinionator.blogs.nytimes.com/2011/10/07/the-occupy-wall-street-quiz/" href="http://opinionator.blogs.nytimes.com/2011/10/07/the-occupy-wall-street-quiz/" target="_blank">Opinion from NYT</a>: The Occupy Wall Street Quiz<br />
"If you look at the results, you’ll see a sort of historically familiar pattern: Democrats sympathizing with the protestors, Republicans railing against them and Michael Bloomberg worrying about his city’s tax base."<br />
<strong><br />
</strong><br />
<strong>Friday 10/7/11</strong><br />
Day 21<br />
<br />
<a _mce_href="http://twitter.com/#!/CNNLive" href="http://twitter.com/#!/CNNLive" target="_blank">CNN Tweeted</a>: Press Secretary Carney is expected to discuss the #OccupyWallStreet protests at today's White House briefing.<br />
<a _mce_href="http://www.cbsnews.com/2300-201_162-10009714.html?tag=page" href="http://www.cbsnews.com/2300-201_162-10009714.html?tag=page" target="_blank">CBSNews</a> Photo gallery<br />
<a _mce_href="http://www.guardian.co.uk/world/gallery/2011/oct/07/occupy-wall-street-protests-us#/?picture=380057709&index=10" href="http://www.guardian.co.uk/world/gallery/2011/oct/07/occupy-wall-street-protests-us#/?picture=380057709&index=10" target="_blank">The Guardian</a> also has a photo gallery up.<br />
<a _mce_href="http://www.tauntr.com/blog/occupy-sesame-street-gets-violent" href="http://www.tauntr.com/blog/occupy-sesame-street-gets-violent" target="_blank">Friday Fun:</a> 1% of the population (the cookie monster) eats 100% of the cookies.<br />
<br />
<br />
<strong>Wednesday 10/5/11 </strong>Day 19<br />
<div><br />
<a _mce_href="http://www.washingtonpost.com/blogs/ezra-klein/post/who-are-the-99-percent/2011/08/25/gIQAt87jKL_blog.html" href="http://www.washingtonpost.com/blogs/ezra-klein/post/who-are-the-99-percent/2011/08/25/gIQAt87jKL_blog.html" target="_blank">Washington Post</a>: Who are the 99 percent?<br />
<em>“I am young. I am educated and hard working. I am not able to pay my bills. I am afraid of what the future holds.”</em><br />
<em><br />
</em><br />
Who are the 99 percent? <a _mce_href="http://www.washingtonpost.com/blogs/ezra-klein/post/who-are-the-99-percent-part-2/2011/10/04/gIQARRRdLL_blog.html" href="http://www.washingtonpost.com/blogs/ezra-klein/post/who-are-the-99-percent-part-2/2011/10/04/gIQARRRdLL_blog.html" target="_blank">Part 2</a><em><br />
</em><br />
<em><em>“I did everything I was supposed to and I have nothing to show for it.”</em></em><br />
<em><em><br />
</em></em><br />
<a _mce_href="http://www.nydailynews.com/ny_local/2011/10/05/2011-10-05_big_money_in_wall_st_protest_cash_coming_in_from_around_the_world.html" href="http://www.nydailynews.com/ny_local/2011/10/05/2011-10-05_big_money_in_wall_st_protest_cash_coming_in_from_around_the_world.html" target="_blank">NYDaily Mail </a>reports that approximately $35,000 has been raise by the protesters so far. "Some money will be used to pay bail for arrested demonstrators."<br />
<br />
<a _mce_href="http://www.npr.org/blogs/thetwo-way/2011/10/05/141071655/occupy-wall-street-college-students-urged-to-walk-out-today" href="http://www.npr.org/blogs/thetwo-way/2011/10/05/141071655/occupy-wall-street-college-students-urged-to-walk-out-today" target="_blank">From NPR</a>: The Occupy Colleges movement called for a "nationwide college student walk out" at noon today, their website <a _mce_href="http://occupycolleges.org/?page_id=43" href="http://occupycolleges.org/?page_id=43" target="_blank">lists 75 colleges</a> where walkouts are expected to happen.<br />
<br />
<a _mce_href="http://gothamist.com/2011/10/05/video_jeff_mangum_plays_occupy_wall.php" href="http://gothamist.com/2011/10/05/video_jeff_mangum_plays_occupy_wall.php" target="_blank">Gothamist report</a>s that Jeff Mangum played at the protest last night<br />
<br />
The NYCLU Tweeted that they are sending a<a _mce_href="http://www.nyclu.org/content/knowing-your-rights-first-step-standing-them" href="http://www.nyclu.org/content/knowing-your-rights-first-step-standing-them" target="_blank"> team</a> of legal observers today.<br />
<br />
<a _mce_href="http://www.politico.com/news/stories/1011/65186.html" href="http://www.politico.com/news/stories/1011/65186.html" target="_blank">From Politico </a>- Massachusetts Democrat Elizabeth Warren came out swinging against the financial industry in her first U.S. Senate primary debate, arguing that “the people on Wall Street broke this country.”<br />
<br />
<a _mce_href="http://www.4029tv.com/r/29391255/detail.html" href="http://www.4029tv.com/r/29391255/detail.html" target="_blank">From CNN</a> - Transport Workers Union Local 100 spokesman Jim Gannon says, 'Their Goals Are Our Goals'<br />
<br />
The Massachusetts Nurses Association says "hundreds" of the city's nurses will rally with the Occupy Boston protesters on Wednesday.<br />
<br />
Protesters have begun <a _mce_href="http://cityroom.blogs.nytimes.com/2011/10/01/occupying-and-now-publishing-too/" href="http://cityroom.blogs.nytimes.com/2011/10/01/occupying-and-now-publishing-too/" target="_blank">publishing</a> The Occupied Wall Street Journal, NYT reports.<br />
<br />
<a _mce_href="http://www.thenation.com/article/163719/occupy-wall-street-faq" href="http://www.thenation.com/article/163719/occupy-wall-street-faq" target="_blank">Protest FAQ's</a> by The Nation<br />
<br />
<a _mce_href="http://www.youtube.com/watch?v=6yrT-0Xbrn4&feature=player_embedded" href="http://www.youtube.com/watch?v=6yrT-0Xbrn4&feature=player_embedded" target="_blank">Fox Footage on YouTube </a>interview with a protester.<br />
<br />
The "Occupy Wall Street" protests "appears to be settling in for the long term," <a _mce_href="http://www.npr.org/2011/10/02/140986180/wall-street-protesters-plan-long-term-occupation" href="http://www.npr.org/2011/10/02/140986180/wall-street-protesters-plan-long-term-occupation" target="_blank">NPR's Jeff Brady reports</a>.<br />
<br />
Retro: <a _mce_href="http://www.businessinsider.com/wall-street-protest-circa-1967-2011-10" href="http://www.businessinsider.com/wall-street-protest-circa-1967-2011-10" target="_blank">Wall Street Protest, Circa 1967</a><br />
<br />
<strong>Tuesday morning 10/4/11 </strong>Day 18<br />
<br />
<strong></strong><a _mce_href="http://http://www.sun-sentinel.com/news/local/southflorida/fl-occupy-south-florida-demonstrations-20111003,0,7505227.story" href="http://http//www.sun-sentinel.com/news/local/southflorida/fl-occupy-south-florida-demonstrations-20111003,0,7505227.story" target="_blank">Anti-Wall Street protests spread to South Florida</a><strong></strong><br />
NYT: <a _mce_href="http://www.nytimes.com/2011/10/04/business/global/daily-stock-market-activity.html" href="http://www.nytimes.com/2011/10/04/business/global/daily-stock-market-activity.html" target="_blank">Wall Street Closes Sharply Lower</a><br />
<strong></strong><br />
<strong>10:20</strong><br />
CNN: <a _mce_href="http://edition.cnn.com/2011/10/03/politics/occupy-wall-street/" href="http://edition.cnn.com/2011/10/03/politics/occupy-wall-street/" target="_blank">Demanding Accountability</a><br />
<strong>10:15</strong><br />
Warren Buffett: <a _mce_href="http://economictimes.indiatimes.com/news/international-business/wall-street-doesnt-feel-loved-warren-buffett/articleshow/10225528.cms" href="http://economictimes.indiatimes.com/news/international-business/wall-street-doesnt-feel-loved-warren-buffett/articleshow/10225528.cms" target="_blank">Wall Street doesn't feel loved</a><br />
Bloomberg: <a _mce_href="http://www.washingtonpost.com/business/economy/anti-wall-street-protests-spread-nationwide/2011/10/03/gIQATYbNJL_video.html" href="http://www.washingtonpost.com/business/economy/anti-wall-street-protests-spread-nationwide/2011/10/03/gIQATYbNJL_video.html" target="_blank">Anti-Wall Street protests spread nationwide</a><br />
<strong>9: 57</strong><br />
Baltimore Sun. <a _mce_href="http://www.baltimoresun.com/features/bs-ae-occupy-baltimore-1004-20111003,0,2774231.story" href="http://www.baltimoresun.com/features/bs-ae-occupy-baltimore-1004-20111003,0,2774231.story" target="_blank">Occupy Wall Street protests spread to Baltimore, other cities</a><br />
<strong></strong><strong>9:48</strong><br />
CNN <a _mce_href="http://edition.cnn.com/2011/10/03/politics/occupy-wall-street/" href="http://edition.cnn.com/2011/10/03/politics/occupy-wall-street/" target="_blank">Occupying Wall Street, demanding accountability</a><br />
<strong></strong><br />
<strong>9:25</strong><br />
<strong></strong>BBC: <a _mce_href="http://www.bbc.co.uk/news/world-us-canada-15155046" href="http://www.bbc.co.uk/news/world-us-canada-15155046" target="_blank">George Soros' sympathy for Wall Street protesters</a><br />
<a _mce_href="http://www.hollywoodreporter.com/news/wga-east-endorses-occupy-wall-street-protests-242981" href="http://www.hollywoodreporter.com/news/wga-east-endorses-occupy-wall-street-protests-242981" target="_blank">WGA East Endorses Occupy Wall Street Protests</a><br />
Daily Kos - <a _mce_href="http://www.dailykos.com/story/2011/09/29/1021224/-Mike-Konczal-Three-Concrete-Demands-for-OccupyWallStreet" href="http://www.dailykos.com/story/2011/09/29/1021224/-Mike-Konczal-Three-Concrete-Demands-for-OccupyWallStreet" target="_blank">Three Concrete Demands</a><br />
<strong><br />
</strong><br />
<strong>Monday morning: 10/3/11</strong><br />
<ul><li>The New Yorker on <a _mce_href="http://www.newyorker.com/online/blogs/johncassidy/2011/10/wall-street-protests-commissioner-kelly-outdoes-himself.html" href="http://www.newyorker.com/online/blogs/johncassidy/2011/10/wall-street-protests-commissioner-kelly-outdoes-himself.html" target="_blank">Rational Irrationality</a></li>
<li>In Arabia news: protests have spread to cities across the country as well as overseas in London and Germany <a _mce_href="http://t.co/b8PiAVu0" href="http://t.co/b8PiAVu0" rel="nofollow" target="_blank" title="http://english.alarabiya.net/articles/2011/10/03/170010.html/">http://bit.ly/njd2Pb</a></li>
<li>Dangerous Minds <a _mce_href="http://www.dangerousminds.net/comments/how_many_ny_police_arrest_young_girl/" href="http://www.dangerousminds.net/comments/how_many_ny_police_arrest_young_girl/" target="_blank">shows footage</a> of the arrest of a 13 year old girl.</li>
<li>How to Occupy an Abstraction <a _mce_href="http://www.versobooks.com/blogs/728-mckenzie-wark-on-occupy-wall-street-how-to-occupy-an-abstraction" href="http://www.versobooks.com/blogs/728-mckenzie-wark-on-occupy-wall-street-how-to-occupy-an-abstraction" target="_blank">Opinion</a></li>
<li>Occupy Wall Street <a _mce_href="http://www.golocalprov.com/news/occupy-providence/" href="http://www.golocalprov.com/news/occupy-providence/" target="_blank">Protesters Coming To Providence</a></li>
<li><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"><a _mce_href="http://www.kob.com/article/stories/s2309634.shtml" href="http://www.kob.com/article/stories/s2309634.shtml" target="_blank">Albuquerque protesters</a></span></li>
<li><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"><a _mce_href="http://stlouis.cbslocal.com/2011/10/03/occupy-st-louis-wants-change/" href="http://stlouis.cbslocal.com/2011/10/03/occupy-st-louis-wants-change/" target="_blank">St Louis</a> protesters</span></li>
<li><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;">Virtual March by <a _mce_href="http://twitter.com/#!/moveon" href="http://twitter.com/#!/moveon" rel="nofollow">@moveon</a> (This coming Wednesday) <a _mce_href="http://t.co/bpmgMxcS" href="http://t.co/bpmgMxcS" rel="nofollow" target="_blank" title="http://www.civic.moveon.org/joinvirtualwallstreet/">http://bit.ly/o4cEct</a></span></li>
</ul><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"> </span><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"><strong>Live Tweeters</strong><br />
<a _mce_href="http://twitter.com/#!/OccupyWallStNYC" href="http://twitter.com/#!/OccupyWallStNYC" target="_blank">@OccupyWallStNYC</a><br />
<a _mce_href="http://twitter.com/#!/jalfordfowler" href="http://twitter.com/#!/jalfordfowler" target="_blank">@jalfordfowler</a><br />
<strong>12:00</strong><br />
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<ul><li><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;">Occupy Wall Street Protesters: We Are Americans <a _mce_href="http://abcnews.go.com/US/occupy-wall-street-protesters-americans/story?id=14652698" href="http://abcnews.go.com/US/occupy-wall-street-protesters-americans/story?id=14652698" target="_blank">(ABC)</a></span></li>
<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;">
<li>Protesters ask New Yorkers: We need blankets, water and food.</li>
<li><a _mce_href="http://mashable.com/2011/10/02/occupy-wall-street/" href="http://mashable.com/2011/10/02/occupy-wall-street/" target="_blank">Mashable photos</a></li>
</span></ul><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"><strong>12:45</strong><br />
<ul><li>Wall Street protests gain steam | <a _mce_href="http://www.freep.com/article/20111003/NEWS07/110030343/Wall-Street-protests-gain-steam?utm_medium=twitter&utm_source=twitterfeed" href="http://www.freep.com/article/20111003/NEWS07/110030343/Wall-Street-protests-gain-steam?utm_medium=twitter&utm_source=twitterfeed" target="_blank">Detroit Free Press</a></li>
<li>NYPD accused of heavy-handed tactics | World news | <a _mce_href="http://www.guardian.co.uk/world/2011/oct/02/occupy-wall-street-nypd-tactics?CMP=EMCGT_031011&" href="http://www.guardian.co.uk/world/2011/oct/02/occupy-wall-street-nypd-tactics?CMP=EMCGT_031011&" target="_blank">The Guardian</a></li>
</ul><strong>Sunday: 10/3/11</strong></span></div><div><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
<ul><li><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;">MSNBC Reporter SLAMS NYC Police Brutality! <a _mce_href="http://t.co/jnGupRkb" href="http://t.co/jnGupRkb" rel="nofollow" target="_blank" title="http://youtu.be/meT8CJgEBQw">http://youtu.be/meT8CJgEBQw</a></span></li>
<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;">
<li>"There’s been class warfare for the last 20 years, and my class has won" - Warren Buffett <a _mce_href="http://t.co/nNJUE0m4" href="http://t.co/nNJUE0m4" rel="nofollow" target="_blank" title="http://www.washingtonpost.com/blogs/plum-line/post/theres-been-class-warfare-for-the-last-20-years-and-my-class-has-won/2011/03/03/gIQApaFbAL_blog.html/">http://wapo.st/rpQi4h</a></li>
<li>More than 700 arrested in Wall Street protest | Reuters <a _mce_href="http://t.co/X8vNIh2f" href="http://t.co/X8vNIh2f" rel="nofollow" target="_blank" title="http://www.reuters.com/article/2011/10/02/us-wallstreet-protests-idUSTRE7900BL20111002/">http://reut.rs/qomSGL</a></li>
<li>Declaration of the Occupation of New York City | NYC General Assembly <a _mce_href="http://t.co/AQCHGryt" href="http://t.co/AQCHGryt" rel="nofollow" target="_blank" title="http://nycga.cc/2011/09/30/declaration-of-the-occupation-of-new-york-city/">http://bit.ly/pLf0sL</a></li>
<li>The Marines are Coming to PROTECT the Protesters - YouTube <a _mce_href="http://t.co/c4HGn9tg" href="http://t.co/c4HGn9tg" rel="nofollow" target="_blank" title="http://www.youtube.com/watch/?v=Ieu5ezt8LlQ">bit.ly/nDwyki</a></li>
<li>Protester describes NYPD Brooklyn Bridge Bottleneck. <a _mce_href="http://t.co/wjaDjAX8" href="http://t.co/wjaDjAX8" rel="nofollow" target="_blank" title="http://www.youtube.com/watch?v=Og_o4krKRMA&feature=related">http://www.youtube.com/watch?v=Og_o4krKRMA&feature=related</a></li>
<li>NYT changes the Brooklyn Bridge Bottleneck story <a _mce_href="http://t.co/mMILk97I" href="http://t.co/mMILk97I" rel="nofollow" target="_blank" title="http://12160.info/photo/new-york-times-real-time-censorship-reframing-gatekeeping/?xg_source=shorten_twitter">http://bit.ly/nkjJUh</a></li>
<li>Fox's Faux pas <a _mce_href="http://www.breitbart.tv/fox-news-jesse-watters-uncovers-the-brains-behind-the-wall-st-protests/" href="http://www.breitbart.tv/fox-news-jesse-watters-uncovers-the-brains-behind-the-wall-st-protests/" target="_blank">http://bit.ly/nPfD6P</a> Ouch!</li>
<li>According to Gothamist, the police officers have arrested NYT contributing writer Natasha Lennard. <a _mce_href="http://twitter.com/#!/natashalennard" href="http://twitter.com/#!/natashalennard" rel="nofollow">@natashalennard</a></li>
<li>Occupy Wall Street: Interview with Chris Hedges Part 1/6 - <a _mce_href="http://www.youtube.com/watch?v=y81xLs-3A-8" href="http://www.youtube.com/watch?v=y81xLs-3A-8" target="_blank">http://bit.ly/o0lXZW</a></li>
<li>I see: (<a _mce_href="http://nycga.cc/2011/09/28/a-new-kind-of-revolution-2/" href="http://nycga.cc/2011/09/28/a-new-kind-of-revolution-2/" target="_blank">blogger</a> Interviews)</li>
</span></ul><span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"><a _mce_href="http://t.co/nNJUE0m4" href="http://t.co/nNJUE0m4" rel="nofollow" target="_blank" title="http://www.washingtonpost.com/blogs/plum-line/post/theres-been-class-warfare-for-the-last-20-years-and-my-class-has-won/2011/03/03/gIQApaFbAL_blog.html/"></a><strong>A timeline of the Occupy Wall Street movement:</strong> (via <a _mce_href="http://motherjones.com/politics/2011/10/occupy-wall-street-protest-map" href="http://motherjones.com/politics/2011/10/occupy-wall-street-protest-map" target="_blank">MOJo</a>)<br />
<ul><li><strong>July 13:</strong> The Canadian magazine <em>Adbusters</em><a _mce_href="http://www.adbusters.org/blogs/adbusters-blog/occupywallstreet.html" href="http://www.adbusters.org/blogs/adbusters-blog/occupywallstreet.html" target="_blank">makes a call </a>to Occupy Wall Street.</li>
<li><strong>August 30:</strong> The hacktivist collective known as Anonymous <a _mce_href="http://www.youtube.com/watch?feature=player_embedded&v=zSpM2kieMu8" href="http://www.youtube.com/watch?feature=player_embedded&v=zSpM2kieMu8" target="_blank">releases a video</a> answering the call and encouraging others to follow suit.</li>
<li><strong>September 17:</strong> Nearly 1,000 gather to protest corporate greed and begin occupying the financial district in New York City.</li>
<li><strong>September 19:</strong><a _mce_href="http://www.youtube.com/watch?v=X5Zyz8njQb8" href="http://www.youtube.com/watch?v=X5Zyz8njQb8" target="_blank">Roseanne Barr</a> is the first celebrity to lend support to the so-called<a _mce_href="http://nycga.cc/" href="http://nycga.cc/" target="_blank">NYC General Assembly</a>.</li>
<li><strong>September 20:</strong> The NYPD starts <a _mce_href="http://online.wsj.com/article/SB10001424053111904194604576581171443151568.html?mod=e2tw" href="http://online.wsj.com/article/SB10001424053111904194604576581171443151568.html?mod=e2tw" target="_blank">arresting protestors for wearing masks</a>, citing an arcane law that prohibits masked gatherings of two or more people with an exception: "a masquerade party or like entertainment." The police soon <a _mce_href="http://www.youtube.com/watch?v=jYaA-34c-vI&feature=player_embedded" href="http://www.youtube.com/watch?v=jYaA-34c-vI&feature=player_embedded" target="_blank">become more forceful</a>.</li>
<li><strong>September 22:</strong> Demonstrators <a _mce_href="http://www.youtube.com/watch?v=NwjcR_UrzWw&feature=player_embedded" href="http://www.youtube.com/watch?v=NwjcR_UrzWw&feature=player_embedded" target="_blank">interrupt a Sotheby's Auction</a>, "in a show of solidarity with the art handler's union that had been locked out." This is the first instance of labor unions and the movement locking step.</li>
<li><strong>September 24:</strong> 80 protestors are arrested during a peaceful march; <a _mce_href="http://www.youtube.com/watch?v=TZ05rWx1pig" href="http://www.youtube.com/watch?v=TZ05rWx1pig" target="_blank">a video of a police</a>officer pepper-spraying a nonthreatening woman goes viral.</li>
<li><strong>September 26:</strong> Anonymous allegedly <a _mce_href="http://news.cnet.com/8301-27080_3-20111813-245/anonymous-exposes-info-of-alleged-pepper-spray-cop/" href="http://news.cnet.com/8301-27080_3-20111813-245/anonymous-exposes-info-of-alleged-pepper-spray-cop/" target="_blank">leaks the name and details of the police officer</a>who wielded the pepper spray.</li>
<li><strong>September 27:</strong> The Occupy Wall Street campaign comes out in <a _mce_href="http://www.dailykos.com/story/2011/09/27/1020735/--OccupyWallStreet-March-to-Postal-Workers-Protest-Cornel-West,-Amy-Goodman-Join-Them-at-Park" href="http://www.dailykos.com/story/2011/09/27/1020735/--OccupyWallStreet-March-to-Postal-Workers-Protest-Cornel-West,-Amy-Goodman-Join-Them-at-Park" target="_blank">support of postal workers</a> who are protesting their reduced five-day work week.</li>
<li><strong>September 28:</strong><a _mce_href="http://blogs.villagevoice.com/runninscared/2011/09/transport_worke.php" href="http://blogs.villagevoice.com/runninscared/2011/09/transport_worke.php" target="_blank">Transport Workers Union</a> votes to support Occupy Wall Street; <a _mce_href="http://www.forbes.com/sites/erikkain/2011/09/29/union-airline-pilots-occupy-wall-street/" href="http://www.forbes.com/sites/erikkain/2011/09/29/union-airline-pilots-occupy-wall-street/" target="_blank">over 700 Continental and United Airline pilots</a> demonstrate in front of Wall Street.</li>
<li><strong>September 30:</strong> More than 1,000 demonstrators <a _mce_href="http://www.cbsnews.com/stories/2011/09/30/national/main20114213.shtml" href="http://www.cbsnews.com/stories/2011/09/30/national/main20114213.shtml" target="_blank">march on NYPD headquarters</a>, protesting the police response against the demonstrators.</li>
<li><strong>October 1:</strong><a _mce_href="http://www.huffingtonpost.com/2011/10/03/occupywallstreet-proteste_n_992444.html" href="http://www.huffingtonpost.com/2011/10/03/occupywallstreet-proteste_n_992444.html" target="_blank">Over 700 demonstrators are arrested</a> for marching across the Brooklyn Bridge and blocking traffic.</li>
</ul><br />
Live updates by Alex Akesson<br />
<a _mce_href="mailto:alex@hedgeco.net" href="mailto:alex@hedgeco.net">alex@hedgeco.net</a><br />
</span></div>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-55708244035285747392011-09-23T16:18:00.000+01:002011-09-23T16:18:14.310+01:00ALTSO's Annual Hedge Fund Charity Rocktoberfest<span class="Apple-style-span" style="background-color: white; color: #454545; font-family: Arial, Helvetica, sans-serif; font-size: 12px;"></span><br />
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<span style="color: black; font-family: serif; font-size: 12pt;">The Eighth Annual Hedge Fund <a href="http://www.altso.org/rocktoberfest/">Rocktoberfest,</a> the cornerstone fundraiser for children’s charity A Leg To Stand On (“ALTSO”), is taking place on Thursday, October 13 at 583 Park Avenue in New York City. </span></div>
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<span style="color: black; font-family: serif; font-size: 12pt;">Hedge fund managers and hedge fund related industry professionals will perform to raise money for ALTSO, which provides prosthetic limbs and corrective, life-altering surgeries to children with limb disabilities in developing market countries.</span></div>
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<span id="yui_3_2_0_1_13167776147841384" style="color: black; font-family: serif; font-size: 12pt;">This year’s Hedge Fund Rocktoberfest promises to be ALTSO’s most high-octane event ever. Wide World Ferrari Maserati is sponsoring a Maserati Gran Turismo S which guests will have the opportunity to bid on that night. More than 1,000 attendees from the hedge fund and related financial services industries are expected at this year’s event.</span></div>
Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-69994124524960352712011-09-12T18:32:00.001+01:002011-09-12T18:32:09.160+01:00New Hedge Fund Gets $100 Million From World Bank<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyj7nB8P6_d0CWHB5e_X587pFHWQUkoGmcFHgRM5FBYTi3mOaJRMlRs3MK4ADP_uoq5xf-aGwFF7dYhgg-F2J-2DOkXPdDzXVihVQX4RbEbIAUOy92ZwIrRB91FhyphenhyphenOvCXealW3yQ/s1600/world_bank_logo.gif" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyj7nB8P6_d0CWHB5e_X587pFHWQUkoGmcFHgRM5FBYTi3mOaJRMlRs3MK4ADP_uoq5xf-aGwFF7dYhgg-F2J-2DOkXPdDzXVihVQX4RbEbIAUOy92ZwIrRB91FhyphenhyphenOvCXealW3yQ/s1600/world_bank_logo.gif" /></a></div>
<a href="http://www.hedgeco.net/">HedgeCo News </a>- The World Bank's private-sector lending arm, the International Finance Corp, is investing$100 million in a new <a href="http://www.hedgeco.net/">hedge fund</a> recently launched by Christofferson Robb & Co, according to Reuters.<br />
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The hedge fund, based in London and New York, will "Put up cash to cover unexpected loan losses in return for a cut from the bank. The fund’s cash will lower the banks’ requirements under the Basel capital rules and reduce the impact of planned tighter rules. IFC hopes the fund will encourage an extra $2.5bn to $4bn of lending to developing countries. " FT reported.<br />
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IFC is the largest global development institution focused on the private sector in developing countries.<br />
Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-3714557232730805672011-08-17T11:44:00.002+01:002011-08-17T11:44:35.951+01:00Hedge Fund Acquisitions: Alaris/Concept Capital Markets<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
<a _mce_href="http://www.hedgeco.net/news/wp-content/uploads/2011/08/fish_eat_fish_bag-p1490766558113912462w92h_400.jpg" href="http://www.hedgeco.net/news/wp-content/uploads/2011/08/fish_eat_fish_bag-p1490766558113912462w92h_400.jpg"><img _mce_src="http://www.hedgeco.net/news/wp-content/uploads/2011/08/fish_eat_fish_bag-p1490766558113912462w92h_400.jpg" alt="" class="alignleft size-full wp-image-24109" height="135" src="http://www.hedgeco.net/news/wp-content/uploads/2011/08/fish_eat_fish_bag-p1490766558113912462w92h_400.jpg" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; float: left;" title="hedge fund acquisitions" width="184" /></a>New York (<a href="http://hedgeco.net/">HedgeCo.net</a>) - Hedge fund manager and investor, Concept Capital Markets, LLC., has been acquired by hedge fund broker/dealer Alaris Trading Partners, LLC.<br />
“Bringing our two companies together will allow us to capitalize on each other’s best practices, enhance our already high level of customer service, and provide our customers with an expanded offering” Jack Seibald, co-founder and Senior Managing Director of Concept Capital, said.<br />
“This business combination will provide our customers with additional custodial options, and importantly, seamless risk management and reporting technology” Darren Day, President and co-founder of Alaris, added.<br />
The terms of the transaction, which is pending approval by the Financial Industry Regulatory Authority, were not disclosed. The combined company will offer institutional brokerage services to hedge funds, asset managers, and registered investment advisers on a global basis.<br />
Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-45724800122150800022011-08-10T17:47:00.002+01:002011-08-10T17:47:33.313+01:00Nordic hedge fund managers on the U.S. downgrade<br />
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<div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><a href="http://www.hedgefundlounge.com/wp-content/uploads/2011/08/Nordic.jpg" style="color: #b30000; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none;"><img alt="" class="alignright size-full wp-image-1870" height="253" src="http://www.hedgefundlounge.com/wp-content/uploads/2011/08/Nordic.jpg" style="float: right; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;" title="Nordic" width="257" /></a>Here’s a excerpt from an article we did with some top <a href="http://www.hedgefundlounge.com/2011/08/nordic-hedge-funds-on-the-us-downgrade/Daniel%20Broby%20Chief%20Investment%20Officer%20at%20Silk%20Invest%20Ltd" style="color: #b30000; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none;" target="_blank">Nordic hedge fund</a> managers, asking them to comment on Standard & Poor’s downgrade of U.S. government bonds from AAA to AA+.</div><div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><strong style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">André Havas, </span></span></strong><strong style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Head of Investor Relations </span></span></strong><strong style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Optimized Portfolio Management Stockholm AB: </span></span></strong>“The world has not recovered fully from the financial crisis that started in 2007. Many of the risks that existed in the various markets are beginning to materialize, the consequences are apparent.</div><div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">“What began with a banking crisis has now rubbed off on to individual countries. Both the credit crisis and the subsequent state debt crisis is by no means a new phenomenon. PIGS countries’ high budget deficits and high debt, combined with a disconnected economic credit expansion, has been under discussion since the mid 1990′s.”</div><div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><strong style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Daniel Broby, Chief Investment Officer at Silk Invest Ltd: </strong>“Sadly, the downgrading of the US sovereign credit rating should have taken no-one by surprise, other than the Congressional Budget Office and a few wrong footed politicians. Whether net public debt is 79% or 81% by 2015 is neither here nor there. It is too much and it is fiscally irresponsible not to have a long term plan to bring it under control.</div><div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">“The recent debt ceiling spat took saw politicians bring the US to the brink of a selective default on a technicality. That is not what one expects from a risk free rate. The US no longer deserves a AAA rating. In that respect, I note that the AA+ rating is still on negative watch.”</div><div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The full article is available at: <a href="http://hedgefonder.nu/2011/08/nordiska-hedgefondforvaltare-kommenterar-usas-nedgradering/" style="color: #b30000; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none;" target="_blank">Nordiska Hedgefondforvaltare Kommenterar</a></div><div style="line-height: 18px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Most hedge fund managers chose not to respond.</div>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-7616122564104577152011-08-10T15:28:00.003+01:002011-08-10T15:31:03.579+01:00Indie Film Financing at Annual Film Finance Summit in New York<span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; font: normal normal normal 13px/19px Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0.6em; padding-left: 0.6em; padding-right: 0.6em; padding-top: 0.6em;"><a href="http://www.hedgeco.net/">HedgeCo News</a> - The 11th annual New York International Film & TV Finance Summit, presented by BNA / CITE will convene September 22nd -23rd, 2011, to explore ways in which independents can find financing to make, distribute, and market films – even in a challenging economic environment.<br />
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The conference is sponsored by Deloitte LLP, Sheppard Mullin Richter & Hampton LLP, Film Pro Finance, Goodmans LLP, Entertainment Partners, Greater Philadelphia Film Office and Ontario Media Development Corp. ProductionHub is the media sponsor.<br />
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"Now more than ever, independent film companies and specialty divisions of major studios need to be creative when mining the money and tax incentive seam," says program director Robert Ross. "Our panelists, including film producers, bankers, film commissioners, talent agents, tax specialists, film finance lawyers and accountants, know the strategies that work and will share them in a host of case studies and panels across the two days."<br />
More than 40 speakers will share their expertise, insights, ideas, and contact information throughout the sessions, networking meals and cocktail receptions.<a _mce_href="http://www.hedgeco.net/news/wp-content/uploads/2011/08/top_banner_indie_film-1.jpg" href="http://www.hedgeco.net/news/wp-content/uploads/2011/08/top_banner_indie_film-1.jpg"><img _mce_src="http://www.hedgeco.net/news/wp-content/uploads/2011/08/top_banner_indie_film-1-136x300.jpg" alt="" class="alignright size-medium wp-image-23995" height="300" src="http://www.hedgeco.net/news/wp-content/uploads/2011/08/top_banner_indie_film-1-136x300.jpg" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; float: right;" title="top_banner_indie_film (1)" width="136" /></a><br />
<ul><li>Learn how to tap into state film tax credits and incentives in the U.S. and locate funds in international market</li>
<li>Get the latest developments in the use of Federal tax incentives, ETI exclusion, R&D credits in relation to film finance</li>
<li>Understand the roles played by specialized banks, finance companies, hedge funds and equity providers in film financing</li>
<li>Know how to properly utilize brand integration and execute product placement strategies to generate additional funds</li>
<li>Find out how to attach the right talent to a motion picture to make financing happen</li>
<li>Understand how to deal with labor issues in regard to producing an independent or studio feature film</li>
<li>Learn about the latest developments in digital distribution platforms and technologies in securing film financing</li>
<li>Hear in a case study how an independent feature film was financed, marketed and distributed</li>
</ul>The 11th Annual International Film & TV Finance Summit will take place at the Marriott Marquis Hotel, on 1535 Broadway, New York, NY 10036, Tel 212 398 1900. To register, go to www.citeusa.org or call (800) 207.4432 for further information on special rates for independent producers, and sponsorship opportunities.</div>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-57585238594369115352011-07-29T14:01:00.001+01:002011-07-29T14:01:00.559+01:00Investors Allocated $30 Billion to Hedge Funds in Q2<a href="http://www.hedgeco.net">HedgeCo News </a>- Brighton House Associates (BHA) has released their quarterly report, which explores trends within the alternative investment industry during the second quarter.<br />
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Some highlights from the report include:<br />
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- The second quarter of 2011 was characterized by tumultuous global markets and uncertainty regarding the financial well-being of a number of euro-zone countries as well as the U.S. Still, investors remained interested in hedge funds and allocated $30 billion to the asset class during the quarter, a small decline from the $32 billion allocated in the first quarter. Despite lackluster returns and markets that proved challenging for hedge fund managers, funds saw strong investment inflows.<br />
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- Many investors who had been sitting on the sidelines became more active in the hedge fund space. In a conversation with BHA analysts, a wealth advisor investing on behalf of a large U.S. insurance firm noted that for the past three years, the firm had not been allocating to the hedge fund space. In the second quarter, however, the firm met with new managers, and it anticipates adding three or four global macro and CTA managers as well as two new long/short equity funds to its portfolio by the end of the year.<br />
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- Other investors increased their single-manager hedge fund exposure at the expense of their fund of hedge funds allocations. An insurance firm in Bermuda, which has traditionally invested in funds of hedge funds, confirmed that it is planning on investing solely in single-manager funds going forward. In fact, the firm plans on increasing its hedge fund allocation from its current $350 million to $800 million over the next two years. Still other investors were increasing their hedge fund exposure by employing firms to create customized funds of funds on their behalf, essentially designing a tailor-made hedge fund portfolio.<br />
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- In the private equity space investors were increasingly interested in sector-focused funds. While interest in funds with diversified sector exposure fell, investor demand grew for funds with exposure to the energy, technology, and clean-technology sectors. Compared with the first quarter of 2011, demand for energy, technology, and clean-technology focused funds grew by 53.6%, 33.1%, and 36.4% respectively.<br />
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BHA profiled just fewer than 1200 investor mandates across hedge funds, private equity, real estate, and related funds of funds through extensive one-on-one interviews with institutional investors around the globe.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-3133723539269374832011-07-26T19:23:00.001+01:002011-07-26T19:23:27.731+01:00Hedge funds and game theorycoming soonAlex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-75398923721809594242011-07-26T19:22:00.002+01:002011-07-26T19:22:58.476+01:00Assets under management threshold raised<a href="http://www.hedgeco.net/blogs/">HedgeCo Blogs</a> - A new order impacting all SEC registered investment advisers (and certain state registered investment advisers) that provide advisory services to hedge funds and/or separately managed accounts and receive performance-based compensation for such advisory services.<br />
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Effective September 19, 2011, the assets under management threshold is being raised from $750,000 to $1 million and the net worth threshold is being raised from $1.5 million to $2 million. In addition, an investor can no longer include the value of his or her primary residence in calculating whether he or she meets the $2 million net worth threshold.<br />
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<a href="http://www.sglawyers.com/_Handlers/FileHandler.ashx?type=library&id=143">More info from Sadis & Goldberg</a>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-8932049647470503552011-07-25T15:07:00.000+01:002011-07-25T15:07:09.241+01:00Hedge Fund Convictions Over The Weekend<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOHKSyQhRhXSO4CCpSqma_rhY9Bn0RzRfCUYlObmcLI8Gv1bXdE9Dp4vy7V44WrqAy6ypO4gBk_GcbgmPwMU18Rs3un6IX1FibgX-ueZnkqatKvWU_h7-e6EN5hDlEWCRMlncimg/s1600/fraud.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOHKSyQhRhXSO4CCpSqma_rhY9Bn0RzRfCUYlObmcLI8Gv1bXdE9Dp4vy7V44WrqAy6ypO4gBk_GcbgmPwMU18Rs3un6IX1FibgX-ueZnkqatKvWU_h7-e6EN5hDlEWCRMlncimg/s1600/fraud.jpg" /></a></div><a href="http://www.hedgeco.net">HedgeCo News</a> - Over the weekend there were hedge fund fraud related convictions in the US, Australia and Germany. All have been sentenced to jail time.<br />
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<b>US</b>: Five employees for hedge fund manager A&O Resource Management Ltd were sentenced for their part in a $100 million fraud scheme.<br />
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“Brent Oncale (the founder) and his co-conspirators operated a sham investment company that turned fraud and deceit into a business model,” said Assistant Attorney General Breuer. “They stole millions from hundreds of unsuspecting investors, pocketing huge sums for themselves.”<br />
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Russell E. Mackert, 52, general counsel for A&O, was sentenced to 188 months in prison; Brent Oncale, 36, former owner and founder of A&O, was sentenced to 120 months in prison; David White, 41, the former president of A&O, was sentenced to 60 months in prison; Eric M. Kurz, 47, a wholesaler of A&O investment products, was sentenced to 60 months in prison; and Tomme Bromseth, 69, an A&O sales agent in the Richmond area, was sentenced to 36 months in prison.<br />
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<b>Australia:</b> A New South Wales Supreme Court has convicted Shawn Richard of Astarra Asset Management with fraud, insisting on up to 5 years of jail time, the sentencing is scheduled for the 12 August.<br />
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The Australian Securities and Investments Commission alleged that the hedge fund manager was placing investor monies in overseas hedge funds, in circumstances where he would personally receive a significant portion of the money.<br />
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“The monies Richard placed in the overseas hedge funds had been raised by the responsible entity of ASF, Trio Capital Limited (Trio).” The ASIC said, “Richard received in excess of $6.4 million in undisclosed payments.”<br />
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<b>EU</b>: Helmut Kiener, the founder of 345-million euro ($497 million) hedge fund K1 Group, was sentenced to 10 years and eight months in prison. The ”Mini Madoff” was found guilty of fraud, forgery and tax evasion by a court in Germany.<br />
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<b>Also sentenced last week:</b> Danielle Chiesi was sentenced to 30 months in federal prison for securities fraud.<br />
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<b>New names in the Petters Ponzi:</b> Frank Elroy Vennes, Jr., a business associate of and primary fundraiser for Thomas J. Petters was named in a superseding indictment last week, the indictment also charges James Nathan Fry, age 57, of Orono, Minnesota, with five counts of securities fraud, four counts of wire fraud, and three counts of making a false statement to the United States Securities and Exchange Commission during its investigation of investments in PCI by hedge funds under the management of Fry’s company, Arrowhead Capital Management.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-65739560257180045462011-07-07T13:15:00.000+01:002011-07-07T13:15:15.091+01:00S&P Awards SEB Fund of Hedge Funds "AA" Rating<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjADzCSQEcY2JiUU0XrYFwXuyx_dOtxQEdIyly8WmazcP1aJP46do_AL4pxrff0HWLWpTFFDe7u1HMCc4VhSBYtHT0FaJHcI-SCZFKoNwkKkRYX1QmKmy_PiKmErrshRUD7GwiEaw/s1600/seb.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="139" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjADzCSQEcY2JiUU0XrYFwXuyx_dOtxQEdIyly8WmazcP1aJP46do_AL4pxrff0HWLWpTFFDe7u1HMCc4VhSBYtHT0FaJHcI-SCZFKoNwkKkRYX1QmKmy_PiKmErrshRUD7GwiEaw/s200/seb.jpg" width="200" /></a></div><br />
Stockholm (<a href="http://www.hedgefonder.nu/">HedgeFonder.nu</a>)- SEB's True Market Neutral fund has become the first Nordic fund of hedge funds to receive an ”AA” rating by worldwide financial-market intelligence leader Standard & Poor (S&P). <br />
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"This is a stamp of approval for the fund, which has delivered stable returns for our customers regardless of the development in the stock market," Mikael Spångberg, lead manager at SEB's True Market Neutral fund, said.<br />
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The Sweden based wealth manager has total assets of SEK 2,118 billion and is represented in 21 countries with 17,000 employees.<br />
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S&P said of the the <a href="http://hedgefonder.nu/2011/07/seb-far-forsta-nordiska-aa-betyget-for-hedgefond-i-fond/">Swedish money</a> manager, ”SEB deserves credit for its highly disciplined process, achieving the fund objective during periods in which the overwhelming majority of funds of hedge funds have fallen short. For example, the fund returned 3 per cent in 2008, and has continued to provide positive returns every year."<br />
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The fund, which is targeting institutional investors, aims to provide an annualised return of 3-4 percentage points above the risk free rate and to deviate no more than 5 percentage points from the target and have no correlation to stock markets.<br />
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In addition, S&P's has also rated SEB's hedge funds Dynamic Manger Alpha and Asset Selection funds "AA".Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-44693946027159666402011-06-27T15:16:00.001+01:002011-06-27T15:17:20.600+01:00New York Hedge Fund Launch: The Long/Short Stanphyl Fund<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
<a href="http://www.hedegco.net/">HedegCo News </a>- New York-based limited liability company Stanphyl Capital GP, LLC (Stanphyl) has launched a long/short equity hedge fund.<br />
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<a _mce_href="http://www.hedgeco.net/news/wp-content/uploads/2011/06/Hedge-Fund-New-York1.jpg" href="http://www.hedgeco.net/news/wp-content/uploads/2011/06/Hedge-Fund-New-York1.jpg"><img _mce_src="http://www.hedgeco.net/news/wp-content/uploads/2011/06/Hedge-Fund-New-York1-231x300.jpg" alt="" class="alignright size-medium wp-image-23251" height="300" src="http://www.hedgeco.net/news/wp-content/uploads/2011/06/Hedge-Fund-New-York1-231x300.jpg" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; float: right;" title="Hedge-Fund-New-York" width="231" /></a><br />
The new hedge fund, Stanphyl Capital Partners, LP., launched earlier this month out of NYC. Managing member Mark Spiegel reported the current AUM at $2M.<br />
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<strong>The Strategy</strong><br />
– Stanphyl runs a highly concentrated (three to ten “best ideas”) long-short equity strategy<br />
– The long positions consist primarily– but not exclusively-- of underfollowed microcap stocks<br />
– The short positions consist of individual stocks and index and “macro” ETFs<br />
– Investment decisions are fundamentally-based (both top-down and bottom-up), with technical analysis occasionally used to optimize entry and exit points<br />
– There are over 8000 publicly-traded U.S. companies with market caps of under $500 million.<br />
- The managing member believes that “outsized” gains can be made in these stocks due to the minimal attention paid to them by large institutional investors, while by using ETFs to establish well-timed index and “macro” positions, hedges (and often outright gains) can be created on the short side with minimal risk of being “squeezed”<br />
– Using modest leverage, the strategy has generated a 26.7% gross annualized return since January 1, 2005 for the managing member’s personal portfolio<br />
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Spiegel is the managing member of Stanphyl Capital GP, LLC and is a NY-based equity investor. From late 2003 through early 2009 he was an investment banker (most recently as a Principal with Piper Jaffray & Co.) financing microcap public companies via private placement (“PIPE” and “Registered Direct”) transactions sized from $5 million to $100 million in companies with market caps of $50 million to $500 million. Prior to becoming an investment banker, Mark spent a year “inside” (i.e., working for) a microcap Nasdaq tech company.<br />
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<strong>Some Hedge Fund Highlights</strong><br />
• Volatility: Due to their reduced liquidity, microcap stocks can be quite volatile on a short-term basis, and this volatility is often compounded by the portfolio’s “best ideas” concentration and typical hold period of six months to two years. Thus, on a monthly basis the NAV of the portfolio can move around quite a bit.<br />
• Investor Concentration Limitations: While Spiegel keeps the majority of his liquid net worth in Stanphyl, due to its high degree of concentration he limits each investor to placing no more than 10% of his or her liquid net worth in the fund.<br />
• Occasional Very High Levels of Cash: Depending upon the availability of attractive investment opportunities (or lack thereof), there are times when Stanphyl may have much or all of its assets in cash. Spiegel is quite comfortable with the concept of “patiently waiting for the right pitch at which to take a swing.”Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-89951045396804156472011-06-27T15:11:00.000+01:002011-06-27T15:11:17.479+01:00Dyment Joins UBS as Global Head of Hedge Fund Distribution<span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; font: normal normal normal 13px/19px Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0.6em; padding-left: 0.6em; padding-right: 0.6em; padding-top: 0.6em;">Global wealth management giant UBS has appointed John Dyment, president and founder of $9 billion Greenwich hedge fund, Shumway Capital Partners, as UBS's Global Head of Hedge Fund Distribution.<br />
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Based in New York, Dyment will be responsible for the management and development of UBS’s strategically important <a href="http://www.hedgeco.net/" mce_href="http://www.hedgeco.net" target="_blank">hedge fund</a> franchise, with global functional responsibility for sales, capital introduction and business consultancy services to the hedge fund community within Global Prime Services and have responsibility for coordinating all <a href="http://www.hedgeco.net/blogs" mce_href="http://www.hedgeco.net/blogs" target="_blank">hedge fund</a> sales activities across the Investment Bank’s FICC and Equity Divisions.<br />
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"The hedge fund business presents a significant opportunity for our global investment banking franchise." Yassine Bouhara, UBS Co-Head of Global Equities, said, "Dyment comes to UBS with deep knowledge and experience, and we are pleased that he will lead our hedge fund distribution business globally. We are equally pleased to demonstrate continued investment in our senior team in the Americas, which is of critical importance to our global business."<br />
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Prior to the Shumway <a href="http://www.hedgeco.net/news" mce_href="http://www.hedgeco.net/news" target="_blank">hedge fund</a>, Dyment was Managing Director at Deutsche Bank, where he managed the Global Hedge Fund Capital Group. Prior to Deutsche Bank, Dyment worked for Goldman Sachs, building the firm’s capital introduction and consulting services businesses.</div>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-5272080363293513222011-06-21T18:04:00.000+01:002011-06-21T18:04:57.302+01:00DnB NOR Global Energy Hedge Fund Launch<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj59mQcvPSpoxXDDhfffOBFjW4-OgRP1CmRX8q_c8OZKtPStHJE3cLn2liiC2r-Mk3j_cDUD59wCmx_MxpOmKDRGJqW2Yc1rD3FmZ2PGuR_YroE_DSx74cu9_aTO2HopxkQHbfInw/s1600/Energy-Storage.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="172" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj59mQcvPSpoxXDDhfffOBFjW4-OgRP1CmRX8q_c8OZKtPStHJE3cLn2liiC2r-Mk3j_cDUD59wCmx_MxpOmKDRGJqW2Yc1rD3FmZ2PGuR_YroE_DSx74cu9_aTO2HopxkQHbfInw/s200/Energy-Storage.jpg" width="200" /></a></div>Stockholm based <a href="http://www.hedgefonder.nu/">hedge fund</a> manager, Carlson Fund, has launched a Global Energy fund. The fund invests in traditional energy companies globally, emerging markets included. Prime investment targets are oil and gas companies as well as in the service industry.<br />
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Lill Evanger Aafos and Aliya Orazalina will be managing the fund. They have 28 years of combined investment experience.<br />
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Ms. Aafos came to DnB NOR in 2008 to head up the global energy team. Previously, she was responsible for all energy investments at Norway’s state pension fund.<br />
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The new fund was launched on April 29. Carlson is part of the DnB NOR Asset Management group, which has a long history of managing energy stocks as part of client mandates and global portfolios.<br />
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<b>The case for energy</b><br />
To sustain global growth, the world has a need for energy that goes beyond the sources currently available.<br />
Consumption in emerging markets has a long way to go to catch up with that of the West: The average Chinese citizen will have to quadruple his energy consumption to reach the consumption level of Americans. Indians must increase consumption more than tenfold.<br />
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Discovery of new oil does not keep up with increases in consumption, and new finds are in places where extraction is difficult. This leads to higher prices on oil and increased activity in the oil sector.<br />
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Recent set-backs for the nuclear energy sector will make the world more dependent on other sources of energy. Germany decided this week to decommission all nuclear reactors by 2022. Alternative energies are part of the mix, but traditional sources will still make up the lion’s share of energy supply over the foreseeable future.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-9992349025863297792011-06-21T14:41:00.000+01:002011-06-21T14:41:16.369+01:00Hedge Fund Industry Awards<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSB7gG7f2p9WvEHsItrNCcs-yIU85pg8K9i0xAaggr3TlRFw3VKSFYxk4tjP54cZHCsgb7nh1Hkgfo0tBjDo8WPhiuEltXGwjRtwlOQYc2ToMnh7DEHtROdkpsjJd_bR6MwVdOEA/s1600/award.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSB7gG7f2p9WvEHsItrNCcs-yIU85pg8K9i0xAaggr3TlRFw3VKSFYxk4tjP54cZHCsgb7nh1Hkgfo0tBjDo8WPhiuEltXGwjRtwlOQYc2ToMnh7DEHtROdkpsjJd_bR6MwVdOEA/s1600/award.jpg" /></a></div><a href="http://www.hedgeco.net/">HedgeCo News</a> - Sadis and Goldberg was named the best law firm in the United States at the Hedgeweek USA Awards. The awards were for excellence among hedge fund managers and service providers for the U.S. industry's best performers and their ability to demonstrate consistency and depth of expertise against the backdrop of a more complex investment climate.<br />
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The awards were decided by the votes of Hedgeweek's 20,000 U.S. based subscribers, which include institutional and high net worth investors, fund administrators, prime brokers, custodians, advisers and other industry professionals. Ron S. Geffner, Partner and Head of the Financial Services Group, stated that, "the Hedgeweek USA Law Awards rank amongst the top global awards and we are honored to be recognized by our industry in this category."<br />
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Sadis & Goldberg is one of New York's leading law firms, providing legal counsel to several hundred advisers, broker-dealers and commodity pool operators that sponsor, manage and advise hedge funds, private equity funds, venture capital funds and separately managed accounts.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-63948826863761094422011-06-21T14:31:00.001+01:002011-06-21T14:31:16.602+01:00Preet Bharara on the Galleon Hedge Fund Trial<span class="Apple-style-span" style="background-color: white; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 13px; line-height: 19px;"></span><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfuWOowU1Kj98gqI6Xn8_IWJGNk-1PVsyLxFlhDeA9BKh0OE9_now4lFYJYDTl6U7YVKvqpBgHEYSd4gizwqlHb-SLDJQ4NGaPY98iq20YEEtcF7rtyC4tmy5gFO4UUcPEkszn7g/s1600/0013729e4a9d0c93be651c.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfuWOowU1Kj98gqI6Xn8_IWJGNk-1PVsyLxFlhDeA9BKh0OE9_now4lFYJYDTl6U7YVKvqpBgHEYSd4gizwqlHb-SLDJQ4NGaPY98iq20YEEtcF7rtyC4tmy5gFO4UUcPEkszn7g/s1600/0013729e4a9d0c93be651c.jpg" /></a></div>The June 27, 2011, issue of The New Yorker, on page 42, “<a href="http://www.newyorker.com/reporting/2011/06/27/110627fa_fact_packer" mce_href="http://www.newyorker.com/reporting/2011/06/27/110627fa_fact_packer" target="_blank">A Dirty Business</a>”, George Packer, writes about the biggest insider-trading case in history, and has an exclusive interview with Preet Bharara, the United States Attorney for the Southern District of New York, whose office pursued the investigation.<br />
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When Bharara took office, in 2009, he made it clear that he would go after Wall Street greed, and the Galleon case helps to illustrate the broader culture of the financial world, in which, “over the past decade, cheating and self-dealing became a principal way to succeed,” Packer writes.<br />
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But some Wall Street observers have called the Galleon case—which included thousands of taped phone calls by the government and more than two hundred and thirty subpoenas for phone numbers by the S.E.C.—a sideshow.<br />
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The case centers around Raj Rajaratnam, the head of Galleon, a multibillion-dollar <a href="http://www.hedgeco.net/" mce_href="http://www.hedgeco.net" target="_blank">hedge fund</a>, and Anil Kumar, a former senior executive with the consulting firm McKinsey, who, in 2003, secretly agreed to be an outside consultant to Rajaratnam. In seducing Kumar, Packer writes, Rajaratnam “made a valuable addition to the network that he had built up over the years.”<br />
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Initially, Kumar believed that he’d be passing information to Rajaratnam legally, but it wasn’t long before he realized that Rajaratnam wanted tips that he could convert into profitable stock trades, and Kumar began breaking both McKinsey’s confidentiality rules and the securities laws that forbid such exchanges. When Kumar was arrested and subsequently handcuffed, Packer writes, “He fainted, hitting his head against a wall. He had to be treated at a local hospital before he could be brought in for booking.” Later that day, Rajaratnam’s wife sent a text message to Kumar’s wife, which read, “I’m sorry.”<br />
<a href="http://www.hedgeco.net/news/06/2011/new-yorker-review-preet-bharara-on-the-galleon-hedge-fund-trial.html" mce_href="http://www.hedgeco.net/news/06/2011/new-yorker-review-preet-bharara-on-the-galleon-hedge-fund-trial.html" target="_blank">Read the full review on HedgeCo</a>.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-639403380206314672011-06-07T17:22:00.002+01:002011-06-07T21:31:24.192+01:00Morningstar: Merrant Outperforms With High Sharpe Ratio and Low Standard Deviation<div class="separator" style="clear: both; text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicVR9xrw-Ak8v9VmVLzIYHLg0qZzZs185gXGuQ90vzi4NnidjIvqEflrDNcvi7tNu3mE4dGYMoY2Bj5GoMZWnSom5co3OBjex4GrGNZ7-jTrZVZXliO8iW9HA07g27rO8OKESD7w/s1600/stockholm-stockhm666.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicVR9xrw-Ak8v9VmVLzIYHLg0qZzZs185gXGuQ90vzi4NnidjIvqEflrDNcvi7tNu3mE4dGYMoY2Bj5GoMZWnSom5co3OBjex4GrGNZ7-jTrZVZXliO8iW9HA07g27rO8OKESD7w/s320/stockholm-stockhm666.jpg" width="320" /></a></div>Stockholm (<a href="http://www.hedgefonder.nu/">HedgeFonder.nu</a>) - Leading Swedish hedge fund investor, Merrant Alpha Select, has continued to outperform its peers, according to global hedge fund research provider Morningstar.<br />
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Merrant Alpha Select has the second highest Sharpe ratio and the third lowest standard deviation of all the 2700 Fund of Hedge Funds (FoHFs)on Morningstar Direct´s global database. <br />
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"The (fund) has an unbroken track-record of positive returns and has proven it's ability to generate substantial alpha and explore market inefficiencies regardless of the directional movement of global equity and bond markets." Managers Ulf Sedig & Rolf Hagekrans said in a press release regarding Morningstar's rating.<br />
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The FoHF performed +0,42% in April, with a Sharpe ratio of 4,64 and has shown 100% positive months and 87% positive weeks since inception. The FoHF targets an annual performance of 8-14% and a standard deviation of 2-4%.Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-39493847104313248372011-06-06T14:29:00.001+01:002011-06-06T14:30:08.372+01:00Survey: Co-domiciled Hedge Funds On The Rise<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjN3iERA0Ns9WV7F_9cB68j2fK9tkioT1w_An8C4cryVG9w09ElnQxMZZ64KlqRf8Mw7OhqxCdoeSXCmoQHb4SWY-c4_6P0T358H3JiSO018v9qapHMHdLCK3JTfFpHzK_3Fp_ksA/s1600/earth.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="258" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjN3iERA0Ns9WV7F_9cB68j2fK9tkioT1w_An8C4cryVG9w09ElnQxMZZ64KlqRf8Mw7OhqxCdoeSXCmoQHb4SWY-c4_6P0T358H3JiSO018v9qapHMHdLCK3JTfFpHzK_3Fp_ksA/s320/earth.jpg" width="195" /></a></div><a href="http://www.hedgeco.net/">HedgeCo News</a> - A survey report released today by RBC Dexia and KPMG predicts that hedge fund managers will continue to create EU-domiciled hedge funds to complement their Cayman Islands or other offshore offerings, but that the QIFs and SIFs were gaining popularity versus the UCITS framework.<br />
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The survey challenges the notion that onshore domiciles could rival the supremacy of the Cayman Islands amongst hedge fund managers. Only a quarter (24%) of hedge fund managers said that they had already brought offshore funds onshore. Of those, more than half (55%) said they opted for co-domiciliation by creating onshore clone funds to complement their existing Cayman or other offshore offerings. Less than 5% of those with onshore funds said they had decided to transfer the domicile of their funds to the EU outright. The trend for hedge funds to create more EU regulated funds seems set to continue however, with 27% of respondents stating that they are considering doing so.<br />
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Jean-Michel Loehr, Chief of Industry and Government Relations at RBC Dexia, commented: "The survey shows that EU fund domiciles are becoming more and more relevant to the hedge fund community, and that they respond to a real need amongst clients for more liquidity and transparency. Co-domiciliation allows hedge fund managers to cater to investors that are not authorised to buy into Cayman funds with onshore products while retaining their existing offshore strategies."<br />
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The prominence of co-domiciliation could be short lived however due to uncertainty over the AIFM Directive: most hedge fund managers considering domiciling their funds in the EU said they would do so before the implementation of the AIFM Directive in 2013, and fully 69% of them said they were considering doing so by transferring the domicile of their existing funds to the EU.<br />
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The research also shows that the UCITS framework, which some respondents said was an effective marketing tool to stem outflows during the financial crisis, has lost some of its appeal amongst hedge fund managers. Indeed, whereas those polled were just as likely to set up UCITS funds as other regulated structures, such as Irish QIFs and Luxembourg SIFs, in the past, 77% of those considering creating an onshore structure in the future now say they would prefer QIFs and SIFs instead.<br />
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Tom Brown, KPMG Head of Investment Management for the EMEA Region, said: "The market is starting to realise that even though 90% of alternative strategies can be replicated under UCITS, specialised structures such as SIFs and QIFs offer more flexible liquidity and transparency rules for hedge funds. UCITS still offers very robust protection for investors, but clearly the wholesale shift into alternative UCITS some had been predicting has not taken place."Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-16519428185422023972011-06-01T16:33:00.005+01:002011-06-06T14:41:26.894+01:00Ethical Hedge Fund Sees Positive Results in 2011<div class="separator" style="clear: both; text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAcHQO6anNQ7V7HmUN4aKNmreWz9MqwMD7jVJiUKxwJfMr3-prZFMRDezJ15a6QgbuDgL3411SlTz0tPHgU_C5F3fxtn2xUz9-lgZZdWN5D9qHqPGS5iyiRarbhDeVVQlkyqZ-kA/s1600/campden_US_SFO+%25281%2529.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAcHQO6anNQ7V7HmUN4aKNmreWz9MqwMD7jVJiUKxwJfMr3-prZFMRDezJ15a6QgbuDgL3411SlTz0tPHgU_C5F3fxtn2xUz9-lgZZdWN5D9qHqPGS5iyiRarbhDeVVQlkyqZ-kA/s200/campden_US_SFO+%25281%2529.jpg" width="188" /></a></div>Stockholm (<a href="http://hedgefonder.nu/">HedgeFonder.nu)</a> - Long/short European equity fund CB Hedge is up +2.27 for April 2011 and up +4.1 in the last 12 months.<br />
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The hedge fund is run by CB Asset Management, a Swedish investment company with high ethical guidelines regarding alcohol and tobacco, weapons, child labour, extortion and corruption.<br />
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With SEB as primebroker, CB Hedge is a long/short European equities fund with the objective of generating an absolute return of 10-15%. To provide a systematic protection during a decline CB Hedge takes a short position in a European index. Usually, the turnover of the portfolio is very low.<br />
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Launched in 2007, the hedge fund is biased towards market neutrality, always net long but never more than 20% of the fund's AuM.Investors can buy shares on a daily basis and sell shares on a monthly basis. The performance fee is 20% of the return and there is a 1% redemption fee. There is currently no minimum required investment or subscription fee. <br />
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CB Asset Management was established in 1994 upon licensing from Finansinspektionen (FI), the Swedish Financial Supervisory Authority (Swedish FSA), for management of equity portfolios. The company manages three funds: CB Hedge, European Quality Fund and Save Earth Fund. The funds are managed by Carl Bernadotte, Marcus Grimfors and Alexander Jansson.<br />
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Alexis Åkesson <br />
Editor at HedgeFonder.nu<br />
<div style="text-align: left;">www.hedgefonder.nu<a href="http://hedgefonder.nu/">http://hedgefonder.nu/</a></div>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0tag:blogger.com,1999:blog-34392274.post-60030915397661046342011-05-23T13:56:00.004+01:002011-05-23T14:12:34.284+01:00New Yorker Review: Madoff’s Curveball<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaEmOSQkLfBIK4HyD1dbM_AvG3guIpxoow3kG8kQntMJ1bIAQ0XXh05tlyyBbjYbxpomWdKRqBB1OGPZUsjRdnFi239FFVvBfzskQlcl9Dn8sGYOaVUrC8dwqJiR9vWLR_zpxt_Q/s1600/Wilpon+Mets+Madoff.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 118px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaEmOSQkLfBIK4HyD1dbM_AvG3guIpxoow3kG8kQntMJ1bIAQ0XXh05tlyyBbjYbxpomWdKRqBB1OGPZUsjRdnFi239FFVvBfzskQlcl9Dn8sGYOaVUrC8dwqJiR9vWLR_zpxt_Q/s320/Wilpon+Mets+Madoff.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5609898724786594418" /></a><a href="http://www.hedgeco.net/">HedgeCo News</a> - In the upcoming May 30th issue of The New Yorker, the article by Jeffrey Toobin, “Madoff’s Curveball”, covers the the money Fred Wilpon, the chairman and chief executive of the New York Mets, lost in Madoff’s hedge fund Ponzi scheme and what it means for Wilpon’s future with the Mets. <div><br /></div><div>Tobin also speaks with Madoff about his take on the events.<br /><br />Wilpon was introduced to Bernard Madoff by his son, Jeff, who had become friendly with Madoff’s son Mark. Toobin writes that “for a few years they had contact only through their sons. Then Madoff made a casual offer to manage some of Wilpon’s money.” Wilpon, his family, and his friends began sending Madoff money to manage in the mid-eighties, and Wilpon tells Toobin, “we jumped in very small. And, as the years went, it became more and more and more and more.”<br /><br />“Madoff talks about his investment strategy as if it were a finely tuned instrument that just went a little off at some point,” but that he “is contrite—sort of.” Still, Madoff speaks about his financial acumen with unmistakable pride. “The strategy that I was using for them, whether it was real or not, was not something that anyone would understand if you were not an expert.”<br /><br />Madoff tells Toobin that Wilpon “must feel that I betrayed him, as do most of my friends who were involved. Hopefully, they will understand the pressures I was under. I made money for them legitimately to start, but then I got trapped and was not able to work my way out of it. It just became impossible for me to extricate myself, or even try and extricate myself.”<br /><br />“It’s really tragic,” Madoff tells Toobin. “I feel terrible about everything that he’s going through.” Madoff says that Wilpon and Katz “were only guilty of trusting their friend and I will live with that guilt and shame forever.”<br /><br />The full review can be found on <a href="http://www.hedgeco.net/news/05/2011/the-mets-and-the-madoff-hedge-fund-scheme.html">HedgeCo News</a>.</div>Alex Akessonhttp://www.blogger.com/profile/06898923315930507861noreply@blogger.com0