Ever listened to Dr. Stu's hedge fund radio?

Sungard Webinar on OTC clearing of CDS

Tokyo Quant event keynote highights China project to build artificial brain

Recently I had the pleasure to participate at Dr. Stu's weekly hedge fund radio show in London. Host Dr. Stu considers our session "one of the best ever editions" - it was huge fun and if Dr. Stu should ever invite you, go for it....

Apart from the usual hedge fund brouhaha you will hear heady music (the Orb, Hendrix, Led Zeppelin, Diamanda Galas, Venezuelan Llanero music and a track from Gong’s fab new album, 2032); cool poetry (from Mr. BH Fraser, the City Poet); on-air therapy via the Emergency Hedge Fund Helpline, and enjoy Dr. Stu's inimitable humor.

The playback file may be available for a limited time only - it can be downloaded here:
dl.getdropbox.com/u/1442785/The_Naked_Short_Club_2nd_November_2009.mp3

Sungard is holding a webinar on OTC clearing on Wednesday, November 11th, 2009 11AM ET / 4PM GMT. There has been a lot of speculation about the challenges which new CDS Regulation will bring in the months to come - more information, free registration here: www.opalesque.com/Site/22

Tokyo Quant event keynote highights China project to build artificial brain

Battle of the Quants taking place on Monday, November 9th at the top rated Tokyo Peninsula Hotel is the First and Only Pan - Asian Quantitative Hedge Fund Gathering. Discussions and presentation include High Frequency Trading - The Next Land Grab, Battle of the Exchanges with the TSE, OSE, NYSE and Japannext and of course the favorite Man vs. Machine challenge.

A fascinating special Keynote titled "Will Massive AI Systems Replace Humans in All Financial Transactions?" will be given by Hugo DeGaris PhD, head of the "China Brain Project" which is developing world's first Artificial Brain. Info & registration: www.battleofthequants.com.

• Editor's Note
• Opalesque Exclusive: CTAs urged to fine-tune teamwork portfolio strategy to deliver more - Newedge
• Opalesque Exclusive: K2’s David Saunders recommends hedge funds seeking institutional allocations pay more attention to client servicing
• Citigroup wants to re-launch hedge fund unit but can't think of a good name
• Former Tower CEO Tanimura sets up hedge-fund consulting firm
• Assets – Comment: ‘Tyranny of distance’ slows down Australian hedge fund revival, forces moves to NY or Switzerland, GLG Partners reports Q3 losses of $99m, Man Group and GLG enjoy a recovery
• Managed Accounts – Man Group grows managed accounts business from $4bn to $6bn in 6 months, Tabb: U.S. hedge funds poised for bespoke account growth
• Indices – CASAM CISDM Equal Weighted Hedge Fund Index 3.21% in September, 21.94% YTD
• Institutional investors have not lost faith in hedge funds but want some changes - panel
• Galleon Update – Feds: 14 charged in $53m insider trading case, US Attorney: This investigation goes to the very heart of fair play in the business world (video), Five cooperating witnesses propel Federal probe, Steven Fortuna, hedge-fund manager at S2 Capital, is charged, Ex-SAC Capital Richard Choo Beng Lee among 14 defendants, Judge refuses to reduce Rajaratnam's $100m bail, Defendant: Galleon's size made it easy to hide insider trading
• Legal – SEC charges Wall Street ring that made over $20m serially trading on acquisition information tipped by an attorney at Ropes & Gray, Update: Bear’s Cioffi, Tannin defrauded investors, federal prosecutor says, Amaranth can pursue JPMorgan suit, Appeals Court says, FBI agents search Florida law firm Rothstein Rosenfeldt Adler in missing funds probe, Weizhen Tang seeks to have cease trade order lifted at OSC hearing, SEC throws weight at hedge funds, K1 Update: JPMorgan implicated in case that may be among the biggest hedge-fund frauds to target banks
• Regulatory – SEC official worried about ‘naked access’, CalPERS' CIO warns of ‘illusion’ of reform, U.S. experts see hurdles to closing regulatory gaps, Incomplete regulations for local hedge funds in China
• Europe – U.K. Business Secretary: EU hedge fund rules may choke off investments, Bank of England pumps more money into economy
• Asia – Hong Kong proposes allowing class actions after Lehman losses, CAIA launches Hong Kong chapter, Japan's fund manager consolidation gathers pace
• Real Estate – Thames River says European property stocks still in peril, City bonus boom will prop up luxury property market
• Commodities – Worries as rush into commodities slows
• News Briefs – MF Global to relocate legal base from Bermuda to U.S., posts loss, Buffet’s Hathaway in cost-cutting program, Simons America's highest earner with $2.5bn, UBS gets fewest ‘buys’ as analysts fret over fleeing clients, UBS predicts 11% rise in number of HNW UAE nationals
• ... And Finally – Seven steps with his new GBP240 metal detector, novice treasure hunter makes GBP1m golden discovery

Featured Services

new  Meet the Connecticut Hedge Fund Industry: Global Alpha Forum, Greenwich Nov 5, 2009. new  Battle of the Quants – TOKYO Monday, Nov 9th 2009 Peninsula Hotel new  Bond Financing (Repo), 10 - 11 Nov 2009, London new  Due Diligence on Hedge Funds, 12th Nov 2009, London new  Managing Hedge Fund Risk, 17 - 18 Nov, London new  Automated, High Frequency and Algorithmic Trading: Strategies for the Future of Trading, Thursday, November 19, 2009, The Flatotel, New York, NY new  Hedge Funds World Zurich 2009, 1-3 Dec 2009, Zurich new  CFA Institute / EDHEC-Risk Advances in Asset Allocation Seminar, London, 1-3 December 2009, The Dorchester new  Understanding Hedge Funds, 23 - 24 Nov 2009, London Administrative Options / Contact

Add your event or product here

The Global Alpha Forum, produced by the Connecticut Hedge Fund Association together with Yale School of Management, Yale Center for Business and the Environment and Harvard Business School, is our answer to the World Economic Forum in Davos.

Set in Greenwich, Connecticut, the “hedge fund capital of the world”, the Forum brings together thought leaders from investment management, academia, business and the non-profit sector for an intensive summit to discuss the state of the global economy, capital markets, financial regulation and to explore new technologies such as those leading the green technology revolution. The theme for the 2009 Forum is “Green Shoots and Animal Spirits”, as we will focus on signs of economic life and behavioral forces that will determine future growth.

• The Coming Currency Crisis
• Alpha in Film
• Carbon Finance & Clean Energy
• Global Hedge Fund Regulation
• Hedge Fund Roundtable
• Lessons Learned from the Financial Crisis
• Institutional Investors Roundtable
• Opening Night Networking Event

The highly rated and original international hedge fund event series dedicated exclusively to quantitative finance come to Tokyo for the first time. The “Battle” discussion between quantitative vs. qualitative investing headlines the days presentations and panel discussions all of which serve to analyze the integration and influence of quantitative tools in finance. Also new for Tokyo is the panel discussion on the recently popular High Frequency Algorithmic Trading.

For additional information please contact, Bartt C. Kellermann, bartt@battleofthequants.com or 212.202.3228 www.battleofthequants.com

For further information please visit http://www.fintuition.com/CourseDetails.aspx?Region=EU&CourseID=79 or email Info@fintuition.com or call at +44(0)8452 303065

For further information please visit http://www.fintuition.com/CourseDetails.aspx?Region=EU&CourseID=140 or email Info@fintuition.com or call at +44(0)8452 303065

For further information please visit http://www.fintuition.com/CourseDetails.aspx?Region=EU&CourseID=94 or email Info@fintuition.com or call at +44(0)8452 303065

A Roundtable Discussion on High Frequency Strategies and Today's Trading Environment

Over the past several months, the topic of high frequency trading has increased in resonance within the financial markets and beyond to Capitol Hill. The sheer volume of trading is daunting and technology is only indicating a movement to ever-increasing speed and lower latency. Where will this all end up? Responding to popular demand from the market, this event addresses the most top of mind issues arising for those involved with high frequency and algorithmic trading; both the pro and con side. In a roundtable format, our panelists provide a balanced look at what technology is available, what strategies are being used effectively and what the impact of potential regulatory legislation will be in the market. All of this results in providing the trader with better and faster ways to execute and succeed in a highly competitive climate.

4:45 pm: Registration

5:15 pm Panel I: High Frequency, Visible Markets, Dark Pools and the Search for Liquidity

Facilitated by Sang Lee, Managing Partner, Aite Group
This panel addresses:

• Capturing Alpha: Which strategies will work best in attaining this Holy Grail of the trader
• Evaluating risk vs. reward when applying the latest trading strategies
• Assessment and evaluation of the latest technologies
• Leveraging past experience into winning trades in the high frequency market

• Co-location, low latency and transparency issues
• Identifying the opportunities for algorithmic and other low latency trading strategies in current market conditions
• Applying risk management principles outside the model
• New SEC legislation: What will impact the trading environment and how to work within these changes

• Proprietary trading desks
• Hedge funds
• Commodity trading advisors
• Portfolio managers
• Broker/dealers
• Technology firms
• Consulting firms
• Advisory firms

The Hedge Funds World Zurich 2009 difference

Now in its 12th year Hedge Funds World Zurich 2009 is Europe’s premier hedge fund investment event for Swiss based family offices, pension funds and private bankers together with the hedge funds and asset management community who serves them.

Key challenges and questions to be discussed:

• What new regulations will be imposed on hedge funds and how will this affect their performance?
• How have lessons learnt from the crisis fundamentally changed hedge fund models?
• Is there a future for the fund of fund business model?
• What is the new role of risk management in delivering market beating returns?
• How can investors better work with their managers to deliver outperformance?
• How have the most forward thinking managers revolutionised their fee structures to satisfy and draw back investors to hedge funds?
• How do hedge fund returns and risk profiles compare to that of other emerging alternative investment vehicles?11 year track record

Just some of those attending the 12th annual Hedge Funds World Zurich 2009 conference, the largest hedge fund conference in Europe will be:

• Mark Nadas Chief Executive Officer, HBK Multi Family Office
• Dr. Steen Ehleen, Managing Director, Ferguson Partners Family Office
• Catherine Lewis, Private Equity Investor
• Fabrizio Ladi, Hedge Fund Selection Manager, Reyl Private Family Office
• Colin Crandall, Assistant Vice President, Fund Research, Rahn & Bodmer Banquiers
• John Ricciardi, Partner, Global Asset Allocation, Iveagh Private Investment House
• Nicole Curti, Country Manager, Stanhope Capital
• Andrew Nolan, Executive Director and Head of Private Clients, Stonehage Group, Zurich
• Jacques Leuba, Director, Private Banking, Clariden Leu
• Gabriel Aractingi, Senior Vice President and Head of Special Clients and Middle East, Lombard Odier Darier Hentsch & Cie
• Pierre Guillemin, Head of Alternative Investment Strategies, Swiss Life Asset Management

For further Information please visit http://www.terrapinn.com/2009/zurich/ or contact: Marcia Ardila Tel: +44 207 539 4335 email: marcia.ardila@terrapinn.com

Jointly organised by CFA Institute and EDHEC-Risk Institute, the Advances in Asset Allocation Seminar takes stock of the latest research industry trends and research advances in risk management and asset allocation to clarify the distinction between true innovation and mere marketing claims.

This exclusive seminar will provide participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management.

Presented in a highly accessible manner by an instructor who combines academic expertise and industry experience the programme is intended for investment management professionals who advise on or participate in the design and implementation of asset allocation policies and portfolio models and for sell-side practitioners who develop new asset management and ALM solutions for investors.

For further information about the event please visit our website at: http://www.edhec-risk.com/AIeducation/Alternative%20Investment%20Seminars/AAA_Seminar_Dec_2009

To book a seat please visit our online store: store.edhec-risk.com or contact Mélanie Ruiz at AMeducation@edhec-risk.com or on: +33 493-187-819

Next editions:
Singapore, 18-20 May – Early bird available before March 19
New-York, 13-15 July – Early bird available before May 14

For further information please visit http://www.fintuition.com/CourseDetails.aspx?Region=EU&CourseID=81 or email Info@fintuition.com or call at +44(0)8452 303065

Carbon360° Research has launched its 2009 Fund Administrator Fact Book:

• 150 Fund Administrators
• Over 500 pages!
• Most comprehensive study available!

• Fund Administrator Architecture
• IT Spending at Administrators
• Distribution of Funds and Assets On- vs. Offshore
• Market Share by AUA, by Hedge Fund and PE AUA
• Administrator Win/Loss Analysis
• Profitability Analysis
• Distribution of AUM by Strategy
• ISO and SAS Certifications
• and much more!

  

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  Yesterday's Top Stories

  Weston Capital Management and Harcourt AG form an incubation joint venture

  People - Duet Group appoints Eric De Candia as CEO of FoHFs platform, and two CIOs, Ian Cramb joins UBP as COO, Farallon Capital to make co-managing partner Andrew Spokes 'key man' going forward, BNY Mellon name Brian Ruane as CEO of Alternative Investment Services, Custom House adds marketing, sales heads for Europe and Americas, SocGen to expand Asia fixed-income staff as hedge funds, insurers diversify, Broker and hedge fund expert Otkritie hires two directors for London and Moscow offices

  Opalesque Exclusive: Strong performance propels Och Ziff funds above high watermarks, but staggering $9.3bn in redemptions leads to Q3 losses

  M&A - FoHFs Ermitage seeks merger partner to help growth, Financial services firm Cowen and alternative investment firm Ramius combine, now called the Cowen Group, Update: BNY Mellon completes acquisition of Insight Investment, UBS does not plan to sell fund management arm GAM after all

  Opalesque Exclusive: Hedge fund research firm Mountjoy Capital launches Mountjoy 500 investible portfolio

  

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  Technical Research Briefing

  CME - S&P 500 INDEX (December) - Daily

  

  Near Term Trend: Neutral to Positive Thursday’s Close: 1063.20 (+ 16.20) UPDATE: The buy stop (1059.80) was elected on the short position at the close on Thursday, at 1063.20. Based on the settlement, the small profit amounted to $800. Keep in mind support at 1025.00- which we highlighted for the past week held. Regardless, we had such good placement on this trade, we owed it to ourselves to keep the position to the end- we might have called the top- and had to give that scenario a chance. The bigger picture at this juncture is quite interesting. The resiliency of this market is admirable, however, as can be viewed in the chart the major portion of a possible head and shoulder top has already formed. The right shoulder is coming together at this time- only time will tell if in fact this topping formation will come to fruition – we will follow it day to day.

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