THE FINTAG NEWSLETTER
@ Tue 30 June 2009 : GMT

FINTAG COMMENT

A man of the Union.

Capitalists can only prosper if the State encourages them, doesn't imprison them or as in many communist countries just turns a blind eye.

The UK government is contributing to over 60% of the GDP. This is more than Cuba, one of the last rampantly communist countries left in the world. Well now the UK has joined the soviet bloc.

So far, the private sector is being tolerated by the index linked wielding civil service. However it is slowing being strangled as capital flows are inefficiently diverted and wasted via the fat cat public sector.

What if you start a new business and want a loan from a bank? Whatever the banks say it is near impossible to gain one. I know a couple of entrepreneurs who have spent 6 months trying to borrow money and they have given up. We might as well all throw in the towel and all work for state for that is where it is going.

Us Hedgies are 100% capitalists. We make money for ourselves and our staff. We go where tax and red tape is low and are nimble enough to set up flexible structures at the flick of a lawyers invoice. Unfortunately the clouds of socialism looming over us in Europe are challenging our beliefs and ostracizing us from society. We are lepers. We are the new minority. But there is hope.The EU Directive that is to kill us off is being challenged hard and we have set up a trade union to cause trouble.

Our brothers and sisters in the Netherlands and Sweden are supporting our cause and helping us with donation raising, making placards and spamming twitter.

Hedgies are angry. We were victims of the credit crunch and we are being blamed for it.

So I have changed my name to Red Fin. I am a pacifist by nature but following a few weeks playing GTA on my xBox have decided to look for a fight.

Signup to my newsletter if you want to join in.

Sorry
Madoff. I am truly sorry on a number of counts. He didn't commit a fraud but the jury said he did. He was coming out in 2 years to write his memoirs but the jury said 150 instead. Crime really doesn't pay.

VICTIM: BERNIE SHOULD BE SENT TO 'MOUTH OF SATAN'

huffington postFintag says
Seems rather harsh. The man obviously has mental problems and should be given counselling. Even so, the people have spoken. Power to the people.

finalternatives says " Fairfield Greenwich Reopens New York Office "

TOWERS PERRIN AND WATSON WYATT TO MERGE

global pensionsFintag says
Bye bye Watson Wyatt and hello err, Towers Watson. That will take some getting used to.

HEDGE FUNDS RALLY TROOPS TO RAISE FUNDS FOR EU CAMPAIGN

city amFintag says
Red Fin to the rescue.

M&G'S DOBELL BLASTS 'SELFISH' HEDGE FUNDS

timesFintag says
Oh dear. So we have a long only lovin', 19th century once a year asset allocation committee veteran who doesn't understand what we do having a paddy. No wonder Prudential has yet again let its pension holders down so badly.

Off you go. Buy some real estate and long only retail stocks. Hold them for 10 years and you never know you might make some money.

Many of the Pru's rivals love us to bits. Especially the Dutch and American ones.

Time to short the Prudential meez thinks.

WARNING: BRITAIN FACES NEW RECESSION

independentFintag says
The dreaded W.

I like the W hotel in New York, but it's a bit small and trendy for me.

ANNALS OF UNINTENTIONALLY REVEALING PRESS RELEASES, HEDGE FUND EDITION

ft alphavilleFintag says
Spelling isn't a hedgies greatest attribute. That comes elsewhere and is useful in the bedroom [Editor: Steady]

PRIVATE BANKER MOVED FUNDS UNDETECTED

new york timesFintag says
Pirate equity is full of crooks. I mean, they all know each other and play pass the parcel all day long. One fund launches and it buys its assets from another PE fund so why not do it personally? Maybe I was a bit too strong. They aren't all crooks in the biblical sense; more in the moral sense.

SPARX TO START NEW GLOBAL MACRO HEDGE FUND, PRESIDENT ABE SAYS

bloombergFintag says
How can something so dull and irrelevant get a whole Bloomberg page?

Anyone can say they are launching a new fund. Raising real assets is the challenge and we never get to hear about whether they were successful or not.

TOP FIRM NOW SEEN AS REAL THREAT TO GOLDMAN

here is the cityFintag says
And why not? Goldman wasn't always the best just like BMW wasn't.

JP Morgan are the new Audi.

PROMINENT RESEARCHER FINDS “EXTREME VALUE THEORY” CAN TURN VAR INTO A BETTER CRYSTAL BALL

all about alphaFintag says
Of course this assumes normal distribution. Which is not proven.

V@R died in 2007. It is a waste of time. It is meaningless. Any trader who trades using V@R won't survive very long. V@R keeps the academics happy and gives Risky Quants a reason to be in a job. Regulators like it because it sounds complicated. It is a long only measure and I don't even know why I am giving it any space.

The only people who make money form V@R are RiskMetrics. This listed company charges hundreds of thousands to produce pivot tables from positional information. Capitalism at its best.

economist says " The simplest behavioral finance model ever "