Hiding Bear Posted December 22, 2005 Report Share Posted December 22, 2005 Mark is crossing the country and may check in later if all goes well. Meanwhile, let's review his last prediction: Holiday Schedule: Thurs.-Fri. - Santa Claus Rally Next Tues. - Thurs. - EOM, EOQ, EOY Bonus Boner Run Rally After New Years:? Obligatory 3 week shank job <{POST_SNAPBACK}> You may have seen this, but some fickle hedge fund investors just don't want to pay for those hedge hog mansions of the pigmen in Greenwich, CT anymore: For Hedge Funds,The Money Spigot Flows Both Ways By HENNY SENDER Staff Reporter of THE WALL STREET JOURNAL December 22, 2005; Page C1 The hedge-fund boom of the past few years has led to a quandary -- raising money from investors has been increasingly easy, but beating the market has not. One result: With performance figures in 2005 uneven, investors are beginning to look at their love affair with hedge funds in a more critical light and spurning those that let them down. ... The hedge-fund industry has entered a turbulent phase. The amount of money flowing in has dropped to about half the level of last year. Much of the money comes through investment firms specializing in funds that pool money and allocate it among several hedge funds for a fee. These so-called funds-of-funds firms account for as much as 40% of all inflows. However, they are much more likely to quickly pull their money out of an underperforming hedge fund; today funds of funds are seeing substantial withdrawals, according to Bradley Ziff, head of the hedge-fund practice at consultants Mercer Oliver Wyman. It is easy to understand why: Hedge-fund performance for the year has been lackluster. The Morgan Stanley Capital International hedge-fund index is up only 6.3% through November, lagging behind the MSCI world stock index -- a standard benchmark -- which rose more than 7% during that time. A recent study from fund-of-funds company Lyster Watson calculates that 1,300 funds, or 15% of the total funds the company could identify, stopped reporting their results this year. While that doesn't necessarily mean they have all closed down, the number is substantial enough to suggest that more funds have closed this year than have started up -- something that hadn't happened before in any of the eight previous years examined by Lyster Watson. http://online.wsj.com/article/SB1135222067...e_whats_news_us Link to comment Share on other sites More sharing options...
DrStool Posted December 22, 2005 Report Share Posted December 22, 2005 Last minute shopping, huh? Link to comment Share on other sites More sharing options...
flufflander Posted December 22, 2005 Report Share Posted December 22, 2005 Post deleted Link to comment Share on other sites More sharing options...
LeeWhee Posted December 22, 2005 Report Share Posted December 22, 2005 Looks like a stoolie prankster afoot in the Hudson River Valley... Police were called when a "6-foot, anatomically correct, finely detailed" snow penis appeared on the front lawn of a New Windsor residence. The self-appointed pornographic snow sculpture censors decided to kick the penis to the ground. "We probably weren't 100% correct in knocking it down," said town supervisor George Meyers. Officials are worried that the story may spawn a rash of lookalike crimes. "Now we're going to get snow penises popping up all over town," said police chief Biasotti. The local paper asked the sculptress whether her work was inspired by Viking or Hopi winter solstice phallic representations. After all, many trace the origin of the yule log to ancient pagan totems to virility. "We just did it because we were bored and we thought it was funny," said snow penis maven Jessica Sherer, "It was huge." http://www.recordonline.com/archive/2005/12/14/sn.html Link to comment Share on other sites More sharing options...
Hiding Bear Posted December 22, 2005 Author Report Share Posted December 22, 2005 I think this is the story that got lost above: WASHINGTON - Delphi Corp. said Wednesday in a regulatory filing that a shareholder request to form an equity committee in its bankruptcy case is "premature" and that it's "highly unlikely" that holders of common shares will receive anything in the reorganization. The Troy, Mich.-based auto parts maker said it believes its shares are worthless. According to the filing, the request for a committee came from Appaloosa Management L.P., a hedge fund based in Chatham, N.J., and run by David Tepper. In October, Appaloosa reported owning 9.3 percent of Delphi, which filed for bankruptcy Oct. 8. Delphi made its response to the committee request in a Dec. 19 letter to the trustee in its Chapter 11 case. http://www.detnews.com/apps/pbcs.dll/artic.../512220433/1148 Link to comment Share on other sites More sharing options...
Tchaikofsky Posted December 22, 2005 Report Share Posted December 22, 2005 Close: Unlike the last few sessions, which succumbed to late-afternoon selling pressures, the major averages found renewed buying interest heading into the finish. Acting as sources of support that helped closed nine out of ten economic sectors higher and offset some negative news on the corporate front were tame economic data, falling bond yields and a decline in crude. Before the bell, Nov. personal income and spending both rose 0.3%, which were about what economists expected and consistent with current Q4 real GDP expectations of about 3% growth. More notably, though, the core PCE deflator was up just 0.1% for the second straight month, easing previous concerns that inflationary pressures were building and assuaging fears of further Fed tightening. While stock investors seemed a bit lethargic in their attempts to fully embrace low-level inflation, as the market traded in a narrow range throughout most of the day, they eventually took notice from the bullish bond traders that helped knock the yield on the 10-yr note (+14/32) down to 4.43% ahead of tomorrow's holiday-shortened session for the Treasury market. It would be remiss, however, to say that there was much conviction behind today's upswing in stocks and bonds, as limited participation, due largely to the NYC transit strike, only served to exacerbate today's run-up in both markets. With regard to sector leadership, Materials turned in the day's best performance, led by strength in chemicals, paper and other gold stocks, with the latter in focus after Barrick Gold (ABX 27.14 -0.08) sweetened its bid for Placer Dome (PDG 22.35 -0.30). Industrials posted the next biggest gain. The sector got a lift from General Electric (GE 35.39 +0.32), which is buying Arden Realty for $3.2 bln, Caterpillar (CAT 58.42... Link to comment Share on other sites More sharing options...
Drano Posted December 22, 2005 Report Share Posted December 22, 2005 Instead of kicking down the snow penis, why didn't they just build a snow fig leaf? Link to comment Share on other sites More sharing options...
Private Skidmark Posted December 23, 2005 Report Share Posted December 23, 2005 Instead of kicking down the snow penis, why didn't they just build a snow fig leaf? <{POST_SNAPBACK}> That's nearly as outrageous as the Taliban's destruction of the ancient stone Buddhas in Afghanistan. But not quite the same. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2005 Report Share Posted December 23, 2005 WASHINGTON - Delphi Corp. said Wednesday in a regulatory filing that a shareholder request to form an equity committee in its bankruptcy case is "premature" and that it's "highly unlikely" that holders of common shares will receive anything in the reorganization. The Troy, Mich.-based auto parts maker said it believes its shares are worthless. According to the filing, the request for a committee came from Appalledloser Management L.P., a hedge fund based in Chatham, N.J., and run by David Tepper. In October, Appalledloser reported owning 9.3 percent of Delphi, which filed for bankruptcy Oct. 8. Hey David -- which part of "zero" don't you understand? Look on the bright side, it wasn't your money. And it snot too late for a leveraged homerun bet on GOOG to salvage your year. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2005 Report Share Posted December 23, 2005 coulda woulda shoulda made my year on this one Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2005 Report Share Posted December 23, 2005 Time Annual Man of Year Award it's a threesome this year with Bono in the middle no better man could be found anywhere in the world? Link to comment Share on other sites More sharing options...
Bungster Posted December 23, 2005 Report Share Posted December 23, 2005 Anyone see Sornette's latest on the US Real Estate bubble? Maybe it's old news... Here's the Abstract: We analyze the quarterly average sale prices of new houses sold in the USA as a whole, in the northeast, midwest, south, and west of the USA, in each of the 50 states and the District of Columbia of the USA, to determine whether they have grown faster-than-exponential which we take as the diagnostic of a bubble. We find that 22 states (mostly Northeast and West) exhibit clear-cut signatures of a fast growing bubble. From the analysis of the S&P 500 Home Index, we conclude that the turning point of the bubble will probably occur around mid-2006. http://arxiv.org/PS_cache/physics/pdf/0506/0506027.pdf Bung Link to comment Share on other sites More sharing options...
Bungster Posted December 23, 2005 Report Share Posted December 23, 2005 Time Annual Man of Year Award it's a threesome this year with Bono in the middle no better man could be found anywhere in the world? <{POST_SNAPBACK}> Sorry Shorty, I beg to differ. A few Mericans that have fat wallets and big hearts are very hard to find....... Bung Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2005 Report Share Posted December 23, 2005 Bill and Melinda donated $100 Million from their Foundation (tax-shelter) to purchase condoms for Indians. Bono lobbied for debtor nations to default on their debt, and got Paul O'Neil fired. These are great accomplishments? Heck, I'd rather nominate one of those millionaire athletes who can "take it to the hole" with style. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2005 Report Share Posted December 23, 2005 I nominate the Big Man. The Kid from Brooklyn Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.