your money for the thrid quater.
Da bin ich ja mal gespannt wie viel Geld abgezogen wird und welchen Einfluß dieses auf das Geschehen am Aktienmarkt haben wird.
Gruß
Permanent
Top-News
15.08.2007 Hedgefund last chance for withdrawing
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für Rekordsummen vor. Die Frage ist was muß verkauft werden und wohin fließt das Geld?
Gruß
Permanent
Gruß
Permanent
Redemption Day
But it's not just Goldman Sachs gearing up for a "run on the bank." Today and tomorrow will be critical for many hedge funds. Why?
* August 15 is the day for redemptions for funds with a 45-day advance notice redemption window.
* So if you have been sitting back as an accredited investor watching the goings on at Bear Stearns (BSC), Goldman, Renaissance, et al. and decide you want your money back ahead of the September 30 withdrawal date, you gotta get that letter in now, and the funds have to raise the case to meet your request.
* But look, one in the industry might say, we are, after all, professionals here! This is not news to us. We'll meet those redemptions and carry on (perhaps literally).
* If only it were that easy.
* Equity markets, going back to July, have been market by weired gyrations that caused quantitative models of the kind used by the Goldman fund to misbehave and, in fact, perform opposite of expectations tested and predicated on 45+ years of returns.
* Why?
* According to a note last week from Lehman Brothers U.S. Equity Quantitative Strategist, it was likely due to a few large multi-strategy quantitative managers who experienced large losses in their credit portfolios (due to subprime) and in an attempt to lower their risk profile, coupled with being afraid to (or simply unable to) mark to market their credit portfolios, were forced to sell other more liquid assets (i.s., stocks) in order to raise cash and "de-lever."
Gerade bei Blumbärch gesehen
Sentinel Management Seeks to Freeze Redemptions (Update1)
By Jenny Strasburg and Katherine Burton
Aug. 14 (Bloomberg) -- Sentinel Management Group Inc., a Northbrook, Illinois-based money manager, has asked regulators for permission to halt investor withdrawals.
The firm contacted the Commodity Futures Trading Commission for approval to halt redemptions ``until we can honor them in an orderly fashion,'' according to an Aug. 13 letter to clients.
The firm managed $1.6 billion as of last month, according to a filing with the U.S. Securities and Exchange Commission. Sentinel's investments include short-term commercial paper, investment-grade bonds and Treasury notes, according to its Web site.
``Investor fear has overtaken reason and has induced a period in which most securities have simply ceased to trade,'' according to the client letter, which does not specify which funds are affected. ``We are concerned that we cannot meet any significant redemption requests without selling securities at deep discounts to their fair value and therefore causing unnecessary losses to our clients.''
Eric Bloom, the firm's president and chief executive officer, didn't immediately return a call seeking comment. An assistant who declined to be named said the CFTC hasn't granted the firm's request yet.
www.bloomberg.com/apps/...20601087&sid=a6W7XECOfjPg&refer=home
But it's not just Goldman Sachs gearing up for a "run on the bank." Today and tomorrow will be critical for many hedge funds. Why?
* August 15 is the day for redemptions for funds with a 45-day advance notice redemption window.
* So if you have been sitting back as an accredited investor watching the goings on at Bear Stearns (BSC), Goldman, Renaissance, et al. and decide you want your money back ahead of the September 30 withdrawal date, you gotta get that letter in now, and the funds have to raise the case to meet your request.
* But look, one in the industry might say, we are, after all, professionals here! This is not news to us. We'll meet those redemptions and carry on (perhaps literally).
* If only it were that easy.
* Equity markets, going back to July, have been market by weired gyrations that caused quantitative models of the kind used by the Goldman fund to misbehave and, in fact, perform opposite of expectations tested and predicated on 45+ years of returns.
* Why?
* According to a note last week from Lehman Brothers U.S. Equity Quantitative Strategist, it was likely due to a few large multi-strategy quantitative managers who experienced large losses in their credit portfolios (due to subprime) and in an attempt to lower their risk profile, coupled with being afraid to (or simply unable to) mark to market their credit portfolios, were forced to sell other more liquid assets (i.s., stocks) in order to raise cash and "de-lever."
Gerade bei Blumbärch gesehen
Sentinel Management Seeks to Freeze Redemptions (Update1)
By Jenny Strasburg and Katherine Burton
Aug. 14 (Bloomberg) -- Sentinel Management Group Inc., a Northbrook, Illinois-based money manager, has asked regulators for permission to halt investor withdrawals.
The firm contacted the Commodity Futures Trading Commission for approval to halt redemptions ``until we can honor them in an orderly fashion,'' according to an Aug. 13 letter to clients.
The firm managed $1.6 billion as of last month, according to a filing with the U.S. Securities and Exchange Commission. Sentinel's investments include short-term commercial paper, investment-grade bonds and Treasury notes, according to its Web site.
``Investor fear has overtaken reason and has induced a period in which most securities have simply ceased to trade,'' according to the client letter, which does not specify which funds are affected. ``We are concerned that we cannot meet any significant redemption requests without selling securities at deep discounts to their fair value and therefore causing unnecessary losses to our clients.''
Eric Bloom, the firm's president and chief executive officer, didn't immediately return a call seeking comment. An assistant who declined to be named said the CFTC hasn't granted the firm's request yet.
www.bloomberg.com/apps/...20601087&sid=a6W7XECOfjPg&refer=home
run on the bank nicht zu groß wird.
Permanent
Permanent
``Investor fear has overtaken reason and has induced a period in which most securities have simply ceased to trade,'' according to the client letter, which does not specify which funds are affected. ``We are concerned that we cannot meet any significant redemption requests without selling securities at deep discounts to their fair value and therefore causing unnecessary losses to our clients.''
"Die Investoren sind zu dumm den wahren Wert zu erkennen (den kennen nur die Manager), also lassen wir sie nicht raus!" Wessen Geld ist da eigentlich investiert. Wer raus will so rausgelassen werden. Das ist freie Marktwirtschaft.
Zum Glück bin ich nicht in so einer Bude investiert.
"Die Investoren sind zu dumm den wahren Wert zu erkennen (den kennen nur die Manager), also lassen wir sie nicht raus!" Wessen Geld ist da eigentlich investiert. Wer raus will so rausgelassen werden. Das ist freie Marktwirtschaft.
Zum Glück bin ich nicht in so einer Bude investiert.
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