THE FINTAG NEWSLETTER
@ Wed 08 April 2009 : GMT

FINTAG COMMENT

Advertising.

Well here is an interesting one. Someone I know runs one of the world's largest display companies (you know, road sign adverts, sides of buildings etc). He was telling me business was booming. Why? Well its cheap and cheerful and penetration is higher than TV where its hit and miss. Not that I know much about advertising but since its the root of capitalism I am surprised Obama hasn't legislated against it, the way he has Wall Street.

Most blog sites are run on founders equity. A few placed ads bring in some extra working capital but it doesn't raise much. Google ads are quite good but the model is changing for we all want clutter free facebook type sites where content excels and anything as ostentatious as advertising is kept well away.

Yesterday I put up a donation button. I had decided the ads got in the way and wanted a new source of income to help pay for my gym membership. It is important I am kept toned and fit for the purposes of providing you all with a better blogging experience. Little did I know the money would pour in. Literally. It's my own little ponzi scheme (except its onshore and I will have to pay tax - but hey ho I am not a real person so I guess my Editor will have to pay instead).

So thank you to those who donated. You kindly helped pay for a couple of Personal Training sessions with Greta. She will be delighted and so will I ...

But enough of my ego. As a hedgie, my ego has been brought down to size. It has been a bell curve of a ride.

10 years ago people thought I worked in a garden center. 5 years ago they thought I was a cowboy. 2 years ago I was a stud muffin master of the galaxy. Today I am a has been, a nobody, a pizza delivery boy, a performance fee parasite, an opaque leach who does things to small defenceless puppies. Of course I could retire [Editor: Not sure what your first wife would say to that] but I have too much energy and would only come to harm. I much prefer trying to work out today's real issues and proving everyone wrong. Here are my current perplexions:

Inflation versus Deflation

Bear Rally versus Start of Rally

Bartering versus Shop lifting (shop, not shirt)

Quantitative Easing versus Laxative Easing

Structured Products versus Waste Products

Cloning versus Replication

That sort of thing.

Greg Newton
Why did I start fintag? It was after following Greg Newton's Naked Shorts analysis of the Refco debacle. He inspired me to also challenge the media's interpretation of events. Greg preempted the current crisis and the plusfunds / refco fraud which he analyzed so well, was the start of a serious decline in the American dream - greed, incompetence and corruption. He inspired me to do a British version of his blog but with the less detail and humor. In fact it turned out nothing like but we did share the odd viral. My Globeop / Global Cockup got me lots of hits and Greg often linked to me. We communicated regularly and had a good laugh although I was unable to meet him in person. I skyped him under the name chris_the_dog. He thought that was funny.

Greg died on 1st April (sic) and my respects go out to his friends and family. Strange, but I thought bloggers were invincible. It appears not.

portfolio says " The Great Greg Newton "

News
Anyone who says they have raised assets for any new funds in the past 6 months is a liar. The hedge fund industry is contracting fast but yesterday a subscription arrived. I couldn't believe it. Attached to the back of it (like Madoff we only accept faxes) was a redemption for a much larger amount. Delta hedging gone wrong meez thinks. Having already told investors I will rebate all my fees back, living on thin air is not fun. But then I guess a lot of you are already doing that. Nice.

ECONOMIST NOURIEL ROUBINI LASHES OUT AT CNBC HOST

washington postFintag says
Cramer versus Roubini. Two bears, one physically and one mentally, having a fight.

MARKET BEAR ROUBINI STICKS TO DOUR FORECASTS

reutersFintag says
So when does he think the bottom will arise? He can't be a bear all his career can he? Or can he ....?

P.RN HEDGE FUND FOUNDER REFUTES FRAUD CLAIMS

finalternativesFintag says
Not another ponzi scheme surely? Where did it all go? Not on wine, women and song surely ....?

HUTCHISON RAISES $1.5 BILLION IN GLOBAL BOND DEAL

finance asiaFintag says
Look at those yields. No wonder it was popular.

ART PRICES FALL 35% AS COLLECTORS CASH IN

financial timesFintag says
I tried to hand some Damien Hirsts to my local thrift shop but they turned them down.

MANHATTAN OFFICE RENTS FALL MOST IN QUARTER CENTURY

bloombergFintag says
Supply > demand. Obvious really.

HEDGE FUNDS GAINED 1.8% OVER ALL IN MARCH

dealbookFintag says
Music to my donations. So why are my investors still redeeming?

DEFAULT COUNT RISES TO HIGHEST SINCE GREAT DEPRESSION

bloombergFintag says
And the bulls think we have bottomed?

ATTITUDE SHIFT SEEN IN RISK MANAGEMENT

hedge funds reviewFintag says
Diversification. Beta correlation was so rife in the last 10 years, it amazes me why anyone bothered with risk management. But then what do I know. I still don't understand what these two over used words actually mean.

CHIEF OF GOLDMAN PROPOSES REVAMPING PAY ON WALL ST.

new york timesFintag says
Typical. He raped his shareholders in the good times and tries to deflect his anger in the bad times to us hedgies. Given Goldman Sachs is a hedge fund, well was, he is a compete hypocritical lying banker. But then he is Goldman. What would you expect?

RBS TO CULL 9,000 STAFF AS IT HANDS OUT OPTIONS TO DIRECTORS

independentFintag says
More headlines. If you read the small print, they are not firing anywhere near that many people.

GEORGE SOROS WARNS JUMP IN STOCK MARKETS SINCE MARCH IS A 'BEAR-MARKET RALLY'

telegraphFintag says
I wonder how his commodities portfolio is doing?