28JAN09:
Q1-09 DOW: 8900
Q2-09 DOW: 7250
Q3-09 DOW: 5810
Q4-09 DOW: 3960
CITI NATIONALIZED
OBAMA GETS SICK 30SEP08:
31DEC08 INDICES:
FTSE100:3550
DOW30:7550
# HEDGE FUNDS:4425 30JUN08: Oil to be USD200 by 30OCT08 USA Inflation to be 7.5% by 30OCT08
...oops 23APR08:
Next Rights Issue:
HBOS...yes
All & Lec ...
...1 Nil. 17APR08: Oil to be USD127 by 30SEP08
...16MAY08 losing my touch 27FEB08:
2 Banks go bust by 30JUN08
BS down, Lehman (a bit late I know) 20NOV07: Northern Crock to be sold for 15p
Nationalized 01NOV07: Oil to be USD103 EOM
...peaked too soon 08OCT07:
SEC to fine Goldman for pricing issues
...still waiting 15JUN07: ML to buy-out BS
JPM got there first 06JUN07: The Big Crash: 17OCT07
...well it's here
My brain is frazzled and it's time for a break. So please excuse me while I vacate this blog for the next 4 weeks. There are a number of books to read and places to see although Martha's Vineyard may get a tad dull after a couple of days.
So when I come back, will the world have a new reserve currency? Will the markets finally recognize that they are toppling off sucker's canyon? Will Oil reach USD100? Will hedge funds be regulated out of Europe?
Last night I was out with a Private Equity jockey who I haven't seen for 2 years. Nice to hear that despite a number of billion dollar funds at his disposal he had made only one investment and that was to launder some money through the funding of a football stadium. He looked more than well.
Let us hope I too feel refreshed and recharged and have a higher NAV when I get back.
Enjoy your caravan holidays and dinner parties on your Yachts.
THE CHILDREN'S INVESTMENT TRUST'S ANNUAL PROFITS JUMP 73PC
The results, for the financial year to the end of last August, also showed that founder and controlling partner Chris Hohn more than doubled his pay to £1.7m,
Mr Hohn warned in the annual report: "Current market conditions will have a material impact on the income stream of the partnership over the following 12 months."
Fintag says Too much volatility for my liking.
FEARS THAT MADOFF MAY BE 'TAKEN OUT' BY FELLOW INMATES
Bloomberg reports that $65bn fraudster Bernie Madoff may need to look out for himself in prison. Bernie could be in danger from fellow inmates, as the majority of those banged up with him will be serving time for violent crimes.
The news agency quotes Steve Vincent, a former police officer who now runs Federal Prison Consultant Services, who said: 'If they (the inmates) see an opportunity to take that man out, and be in the paper and make a name for themselves, what have they got to lose ?'.
Fintag says Give the guy a break. We want to read his memoirs about how he suckered all his greedy investors, both innocent and guilty of crimes against due diligence.
finalternatives says " SEC Ignored Internal Madoff Whistleblower, Too "
OCH-ZIFF LOSES $800 MILLION TO WITHDRAWALS FROM ITS HEDGE FUNDS
Och-Ziff Capital Management Group LLC lost about 3.7 percent of the money it manages in June because of investor withdrawals from its hedge funds.
Assets under management declined $800 million in the month to $20.7 billion, the New York-based company said today in a filing with the U.S. Securities and Exchange Commission. Investors had withdrawn a record $5.1 billion in the first quarter, when rival hedge funds restricted redemptions.
Fintag says Wow, this is a non story. It only had a 4% drawdown? Most hedge funds would be delighted at such a low figure.
A rogue trader at a London oil broker caused his employer to lose $10m (£6m) after making unauthorised trades.
PVM Oil Futures said it was a "victim of unauthorised trading on Tuesday June 30" and said it was conducting a full investigation.
Fintag says
Bye for now.
I will be checking my emails so please entertain me while I am away.
finbar.taggit@fintag.com
64 comments
chuuber doober said ...
seeecond
03 Jul 09 - 07:39 gmt
Maria said ...
well...mr taggit, i wish you a pleasant holiday and as little work as possible (means also not checking your e-mail, unless this is actually something you like:) )
03 Jul 09 - 08:00 gmt
Alpha60 said ...
@Fintag may I recommend the croatian riviera as a stop off point on your mega yacht. I myself will be visiting Hvar in a few weeks for much needed R&R
03 Jul 09 - 08:24 gmt
anonymous said ...
What's the editor doing whilst you're away?
03 Jul 09 - 08:45 gmt
Maria said ...
the editor will be having some beers with the it geek, as the heatwave sweeps western europe :)
03 Jul 09 - 09:00 gmt
Kazelymp said ...
Hi webmaster! adp
03 Jul 09 - 09:01 gmt
Kazelyvr said ...
Hi webmaster! smv
03 Jul 09 - 09:01 gmt
Kazelkrh said ...
Hi webmaster! wnm
03 Jul 09 - 09:02 gmt
A Psycho said ...
@Maria you must know by know us HF types are obsessed with email, it makes us seem and look important ; )
03 Jul 09 - 09:37 gmt
Maria said ...
a psycho ...
i truly believe that you do not neet e-mail to feel important, because most of the people that post here feel extremely good about themselves anyway...:). and, apparently, one looks how one feels :).
03 Jul 09 - 09:46 gmt
Tradebot said ...
bye bye Mr Fin, enjoy the summer lull.
03 Jul 09 - 10:07 gmt
A Psycho said ...
@Maria you sound like a amateur psychologist?! Am I right in thinking you enjoy analysing the behaviour of others? I would gladly submit my self for a examination/appraisal at your hands ;)
03 Jul 09 - 10:11 gmt
anonymous said ...
if finbar was as busy as he claims with all this new business would he be going off for 4 weeks...i doubt it. the man is a bear market pony who has been on the wrong side of the market for months and as a result is crushing redemptions. No doubt he will be decamping to a beach so he can find some sand to stick his head into.
03 Jul 09 - 10:13 gmt
Maria said ...
a psycho
i am a profiler :) hahaha. no, it's just what strikes me here...:)
03 Jul 09 - 10:24 gmt
Maria said ...
but you are partly right...group dynamics fascinate me :), and also a person's reaction to different stimuli (as well as my own reaction) ...:).
i don't really analyze, i just like to observe :)..it's quite entertaining :)
03 Jul 09 - 10:30 gmt
anonymous said ...
What's the point of observing without analysing? Are you a camera?
03 Jul 09 - 10:38 gmt
Big Swinger said ...
Happy holidays
03 Jul 09 - 11:27 gmt
Moron said ...
Maria honey i look and feel like a rapist and murderer and when i meew u i am trying to decide whether i shud murder u first and then rape u or vice versa - what wud u prefer:)))
03 Jul 09 - 12:47 gmt
A Psycho said ...
@Maria I think most people would react positively to any stimuli from your good self ;) Though your last point troubles me...Are you a voyeur?
03 Jul 09 - 12:48 gmt
Maria said ...
Moron, I'm a hunter, not Bambi :)
03 Jul 09 - 13:13 gmt
Moron said ...
Maria....u're u tigress....u want a mouse..but I am a tiger.....when I am finished with u u wont even be able to walk in a straight line:))))
03 Jul 09 - 13:18 gmt
Maria said ...
by analyzing, you categorize, define/re-define, you manifest your prejudice, you compare & build expectations, you get caught up in the 'web'...by observing, there's more detachment, you don't pass judgement...
Psycho...what if I were? :)
03 Jul 09 - 13:20 gmt
Maria said ...
if u'r a tiger, i'll carry a gun...tigres are dangerous beasts:) even if they purr and meaw :)
03 Jul 09 - 13:24 gmt
Moron said ...
Maria....in my experience women don't admit it....but they all secretly want to be ravaged....brutally and forcefully:)))...what I enjoy the most though is fuc*ing with their heads rather than their bodies.....u get the drift:)))
03 Jul 09 - 13:27 gmt
Maria said ...
mind games get u excited...:)
hm..why am i not surprised :)
03 Jul 09 - 13:38 gmt
anonymous said ...
Moron, you really are the most tedious and boring tool I have ever seen grace a blog. And that is saying something
03 Jul 09 - 13:48 gmt
Munch the Greatest said ...
This is definitely the Sign of a Top
03 Jul 09 - 13:55 gmt
Monster said ...
Maria you would be able to say much about Moron and Psycho just by looking at their childish "make-me-sound-scary" nick names :P
03 Jul 09 - 13:56 gmt
Maria said ...
...said Monster:) this blog's comments represent a continuous source of entertainment :)
03 Jul 09 - 14:00 gmt
Moron said ...
Anon me ur mum ur sister and ur wife mate!!!
03 Jul 09 - 14:23 gmt
Anonymous Bull said ...
As much as I disagree with Moron's bearish calls...and have noticed that he isn't that bearish anymore. This comment section is the poorer without Moron
03 Jul 09 - 15:27 gmt
Maria said ...
there's is a net distinction between the comments of the 'rounded, well defined characters' (MsR, Moron, AnonBull, Psycho, Munch, Topcat, Tradebot, etc) and the anonymous comments posted ...
i know i'm boring, but most of the times I AM boring:), that's life :)...
03 Jul 09 - 15:31 gmt
A Psycho said ...
@Maria when do i get to lie on your couch then, purposes of pschoanalysis of course ;)
03 Jul 09 - 15:40 gmt
Munch the Fantastic said ...
Munch well rounded?
If you call sucking beers and eating biltong 18 hours day well rounded, well then yes, eye guess eye am
Sorry about the RUGBY again, chaps!
We are gonna hit yaw lads so hard their photographs are gonna fall out of their passports
We'll send them home in body bags
03 Jul 09 - 15:42 gmt
Maria said ...
no, seriously, you all have distinct features...not sure whether you ever changed any of the nicknames though :)...
Munch, you have a distinct voice, sometimes annoying (with the 'first' obsession:) )...but if someone would post anonymously a (for eg, as being extremely annoying) 'ATTACK KILL DESTROY' we will it's Moron...and if it wouldn't be him/her :), then it would have borrowed Moron's signature for lack of a better defining one :) (or for a prank :) )
03 Jul 09 - 15:48 gmt
Maria said ...
Psycho, I don't have a couch :). but if there's sun where you are, you can lie down in a park, look up and tell me what you see :) - take a smartphone with you perhaps :)
03 Jul 09 - 15:51 gmt
Moron said ...
Maria honey u are flirting with the devil-I have had ex gfs tell me that after what i did to them they can never date a man again:)) its like the g in the now defunct glg says - once u work for me u will never work for anyone else:)))
03 Jul 09 - 16:06 gmt
Maria said ...
i like flirting, it's fun :)
the devil is in the details :) haha. and i've had worse than you (think/say you are), so i know not to go there ever again :) (for real)...therefore this is just smoke&fun :)...
03 Jul 09 - 16:15 gmt
Maria said ...
you know, i was thinking about your assertion about ex girlfriends...maybe we should try a post-modern-like approach and try loving more/many men (in succession :) )...maybe just one man (one woman, depends on tastes) is not the answer to our quests:)...a life long relationship seems updated...too many compromises, too little freedom:)
03 Jul 09 - 16:25 gmt
A Psycho said ...
@Maria I am struggling for inspiration...I am far better when coached 1 on 1 helps me open up more quickly ;)
03 Jul 09 - 16:25 gmt
Maria said ...
1 on 1 is the only type of thing that works :)...but what would your wife say?? :)
03 Jul 09 - 16:27 gmt
anonymous said ...
Maria - does 1 on 1 coaching help you "open up" more too?
03 Jul 09 - 16:57 gmt
A Psycho said ...
@Maria in the words of Borat "My wife she dead"
03 Jul 09 - 17:16 gmt
Maria said ...
Psycho: so your name does suit you:)...not sure what the Borat ref is about...but if she really died, I am sorry for your loss.
anon 16.57: does that make you feel good? if yes, then good for you, keep it up:)
03 Jul 09 - 17:20 gmt
A Psycho said ...
@Maria that was a joke..albeit poor one. But no I'm not married...so we can proceed wit the 1 on 1 personal coaching then?
03 Jul 09 - 17:34 gmt
Maria said ...
do you think my husband would mind? :)
03 Jul 09 - 17:49 gmt
anonymous said ...
Maria - how many $ does it take for you to spread your legs?
03 Jul 09 - 18:01 gmt
MsR said ...
Goodness I popped in and it's all surreal.
03 Jul 09 - 18:01 gmt
Top Cat said ...
The bizarre banter is back.
Fin - how many of your four weeks off will be spent on accounting update courses?
03 Jul 09 - 18:04 gmt
MsR said ...
@TopCat I have lost your email or rather my Mac laptop has as it has been naughty. Can you send it and we can go and have tea..but not at that silly Napket place..I see they are opening more of them.
03 Jul 09 - 18:06 gmt
Top Cat said ...
Will do - amazed they haven't gone bust. Fin must be keeping them afloat. Expensive and rubbish
03 Jul 09 - 18:13 gmt
Maria said ...
it's not surreal, it's just human nature.
for anon about the $...i'm priceless, you idiot :)
03 Jul 09 - 18:24 gmt
Moron said ...
Maria rocks:))))....oh to be 20 something and untainted again:))).....though I was tainted right from my childhood growing up on the friggin streets!!!!!
03 Jul 09 - 19:16 gmt
anonymous said ...
surely you mean inexperienced
03 Jul 09 - 19:18 gmt
anonymous said ...
Come off it Moron, you are kidding nobody. Anyone who really did grow up on the streets and get beaten by their parents wouldn't talk about it. You're a fraud
03 Jul 09 - 20:04 gmt
anonymous said ...
Maria - everyone has their price darling. Everyone. I bet you'd drop your drawers for GBP100.
03 Jul 09 - 20:21 gmt
Moron said ...
Anon mate ur mother ur sister ur wife me and since we share such a connection with u we will allow u to watch:))))
03 Jul 09 - 20:24 gmt
Moron said ...
Its sad to think that in another 10 years or so Maria will turn into msR - bitter,broken and traumatized
03 Jul 09 - 20:55 gmt
Moron said ...
Life is cruel:(
03 Jul 09 - 20:58 gmt
Top Cat said ...
Moron - uncalled for
03 Jul 09 - 21:50 gmt
Moron said ...
why mate...if u r damaged then admit it...I am totally damaged...clinically insane....and I love it.....life at 200mph....imagine the excitement!!!!...in my book u r either mad or a vegetable.....and I don't like vegetables:)))
03 Jul 09 - 22:06 gmt
anonymous said ...
Moron you sound like someone on bad coke. Your mood swings are bizarre.
03 Jul 09 - 23:29 gmt
anonymous said ...
Maria sweetie, you sound like a tease.
03 Jul 09 - 23:30 gmt
Moron said ...
anon u wanna see mood swings......go ask any of my ex gfs.....they'll tell u abt my mood swings:))) I leavea trail of gory destruction wherever I go.........!!!!!!
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