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Hey Donc
you can dress up corruption anyway you like and eventually investor
confidence goes aka Japan in the 1990's - its not until you deal with the
root of the problem that confidence returns. So lock-em all up. You see,
I dont give a flying pig where the US market goes to per se but it does
bother me if its untradeable - it means I've wasted a lot of time - and time
is money. I dont need to explain this to you because your a wise arse
trader.
"......Managed futures and dedicated short bias were the worst performing
strategies for the month. Managed futures gave up 0.9% for the month and had
a negative 4.5% return for the year to date."
{Emerging Markets Back at the Top of the CSFB/Tremont Hedge Fund Index
By Susan L. Barreto, Senior Reporter
Monday, April 15, 2002
NEW YORK (HedgeWorld.com)-Hedge funds are still in positive territory,
albeit ever so slightly, finishing up 0.7% in the month of March and up the
same amount for the year ended March 31, according to the CSFB/Tremont*
Hedge Fund index returns.
Emerging markets emerged for the second consecutive month as the
top-performing hedge fund sector, somewhere that strategy hasn't been since
before Argentina's problems began late last year. Last May was when emerging
markets managers last had their day-following Argentina's record debt swap,
banking reforms in Turkey, renewal of the International Monetary Fund plan
in Ecuador and a positive outcome in the Peruvian presidential election.
(Previous HedgeWorld Story)
General market turmoil may have bolstered emerging markets this year. The
sub-index is up 9.9% for the year and up 3.9% for the month, outpacing the
Dow Jones industrial average, which was at 2.9% for the month, and the
Standard & Poor's 500 stock index, which returned 3.7% for the same period.
The second best performer in the index was event-driven strategies, which
were up 1.2% for the month and 2.0% for the year. Performance of the other
sub indexes was less enticing. Long/short equity was up only 0.9% for the
month, but down 0.7% for the year.
Equity market-neutral funds had better year-to-date results of 0.9%. The
strategy was up 0.8% for the month after a stagnant February of 0.0% return.
Fixed-income arbitrage gained 2.6% for the year and but was up only 0.6% for
the month.
The convertible arbitrage sub index was flat in March and down 2.1% for the
year. Both Lipper funds, which are in the process of being liquidated, are
no longer part of the index. The liquidation comes after severe losses in
the fund. (Previous HedgeWorld Story)
The first negative performer for the month was global macro, which gave up
0.2% in March, but was still the second best performing strategy for the
year, returning 3.0%.
Managed futures and dedicated short bias were the worst performing
strategies for the month. Managed futures gave up 0.9% for the month and had
a negative 4.5% return for the year to date.
Dedicated short bias was at the bottom of the sub-index charts dropping 5.5%
in March and finishing the year to date down 1.7%. This may not be too
surprising, since the equity markets bounced back worldwide, with the MSCI
EAFE index up 5.1% and the MSCI World index up 4.2% in March.
>From its Jan. 1994 inception, the CSFB/Tremont Hedge Fund index has returned
142.89%. The index itself is comprised of 377 funds in March, which is down
from 381 funds in January.
Four funds were dropped including Advisory U.S. Equity Fund I LP and
Advisory U.S. Equity Overseas Fund I Ltd., both of which were liquidated.
The other two were the Lipper Offshore Convertibles LP and Lipper
Convertibles LP, both of which stopped reporting.
The index is constructed using a database of more than 2,600 hedge funds,
including both U.S. and offshore funds, but does not include funds of funds.
In order to qualify for inclusion in the index, a fund must have US$10
million in assets under management, a 12-month track record and an audited
financial statement.
Index funds are selected using a formula based on assets under management
that ensures the index always represents at least 85% of total assets in the
selection universe. Once added, funds are not excluded from the universe
until they liquidate or fail to meet the financial reporting requirements.
The index is calculated on a monthly basis and adjusted for capitalization
and return.
* Tremont Advisers Inc., Rye, N.Y., is a minority investor in, and strategic
partner of HedgeWorld.
----- Original Message -----
From: <CCountach@xxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Friday, April 19, 2002 4:07 AM
Subject: Re: Crimes against humanity
> >
> > Date: Wed, 17 Apr 2002 19:15:56 +0100
> > From: "Michael Stewart" <michaelstewart@xxxxxxxxxxxxx>
> > To: "Omega" <omega-list@xxxxxxxxxx>
> > Subject: Crimes against humanity
> >
> > $100m fine. I love that, what about $500bn, that would scratch the
surface.
> >
> > And don't forget every SOB analyst, banker thief and auditor who sold
their
> > soul. Lock em up for 20 years +. Goldman, JP Morgan, etc, etc, etc,
etc.
> >
> > SEC may jump aboard Merrill investigation
> >
>
http://story.news.yahoo.com/news?tmpl=story&u=/usatoday/20020417/bs_usatoday
> > /4034214
>
>
> Let's not be hasty... it's all the lies that these SOB's told that
created
> the bubble that was a dream for traders. What's that ? You say you're an
> "investor".. ?
>
> donc
>
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