THE FINTAG NEWSLETTER
@ Wed 12 August 2009 : GMT

FINTAG COMMENT

Sept 20, 1920.

Most of you will have no idea why this is one of the most important dates in US history. In New York, 100 pounds of dynamite and assorted metal objects were driven into a business district and caused serious damage to the buildings as well as killing 36 people and injuring 400. Worst of all, these bankers and brokers hadn't finished their lunch. This was one of the worst terrorist attacks in US history long before Bush jumped on the moral panic bandwagon post 9/11.

The anarchists of 1920 are long lost in the midst of time and yet we all know about 9/11. You see, we are living in a world of BTI and PTI where recent history is more relevant and important that distant history. Just like believing terrorism is a new world threat despite it existing in many forms since time began, we like to view recent events as new, original and valid.

Before The Internet events are almost treated as myths, legends or fantasy whereas Post The Internet everything is real.

In 1999 I launched a successful dot com company that wasn't so successful in 2000. If I search google, it cannot be found. This was only 10 years ago and it is lost. It is as if our successes and mistakes are zapped from the history books.

On my travels I met the Professor of technology at Princeton university. We talked about the day when everything we did would be recorded to a mini 4 terabyte hard drive implanted in our heads when we were born. It won't be long when everything we do shall be recorded and life will be a lot simpler. Super computers will be able to analyse the way we all behave and work out the optimal solutions to all problems and actually learn by our mistakes. The markets will become perfect and this pouring of cash into the Equity markets would stop for it is irrational and this is exactly what happened during the previous 2 depressions.

Hopefully I wont be here then. Nobody wants perfect markets.

GRAFF DIAMONDS £40 MILLION JEWELLERY ROBBERY IS BRITAIN'S BIGGEST GEM HEIST

telegraphFintag says
I can assure you that these men are not well dressed and that rules me out.

MADOFF FEEDER FUNDS SUE INSURERS

emii / bloombergFintag says
Amazing. Truly amazing.

RAIN CAUSES SUGAR TO HIT 28-YEAR HIGH

telegraphFintag says
I hope you were paying attention yesterday ...

END OF AN ERA AS ATTICUS CAPITAL CLOSES TWO HEDGE FUNDS

timesFintag says
Not much you can say to this except I wish I could hand that sort of AUM back and not feel guilty about it. Maybe it was too much responsibility and there is more to life than trading, Hiding behind closed downs and weilding that power you have in shifting markets. Is there? Please let me know because my dabbling as a triathlon fishing monk has not reaped the rewards I thought it would.

US RECESSION ENDING WITH A ROAR

finfactsFintag says
With interest rates at zero and equity markets bubbling then what would you expect? This still doesn't solve the horrendous debt situation that most Western governments have built up. But I would never diss a Goldmorgan Stanley report ...

ft alphaville says " Introducing the BoE Macro Plus Fund "

DIPASCALI: MADOFF BUSINESS 'ALL FAKE'

financial timesFintag says
So that means his family were aware of the scam.

CV LYING ON THE INCREASE

here is the cityFintag says
This really irritates me as it costs money to verify the CV. Someone should set up a service that rubber stamps CVs / resumes. I would pay for that service and every other HR dept would do the same. The recruitment agents should be sued for misrepresentation.

Anyone up for this biz opp?

TUDOR

TudorFintag says
I am often asked what a real hedge fund newsletter looks like. Well here is one. Interesting eh? This part did catch my eye:

"Tudor Tensor/Tudor Momentum Managed Accounts. As of July 1, 2009, the firm opened its first managed account for the Tudor Tensor managed futures strategy. The Tudor Tensor set of models is a large component of the systematic trading conducted in the Portfolio Trading Interests. Managed accounts for Tudor Tensor (a multi-strategy systematic futures program currently featuring participation in up to 16 quantitative systems) and for Tudor Momentum (a trend-following program currently featuring four
quantitative systems) will be offered to qualified investors on a limited basis. We will not be offering a managed account program for Tudor BVI Trading Interests, due to its complexity across traders and counterparties."

So after all these years, Tudor has succumbed to the world of transparency.