The October edition of Hedgebay Trading Corporation’s monthly index has shown that the purchase of hedge fund assets is being driven by two prevailing sentiments among investors, creating a two-tier hedge fund market. The Hedgebay Global Hedge Fund Secondary Market Index reveals a wide discrepancy between the highest and lowest prices at which secondary market users were willing to trade […]
Crude Oil inventory surprisingly increased last week by 1,762,000 barrels to 337,676,000 barrels. Inventory is down 5,956,000 from 13 weeks ago and is now up 25,727,000 barrels from a year ago. We are at the 87th Percentile in barrels in storage, and we are at the 96th Percentile based on the 23.91 days of usage in storage. Distillate inventory increased […]
The International Energy Agency (IEA) released its annual World Energy Outlook (WEO) this week — a report I always anticipate eagerly. Hey, it’s like Christmas for energy geeks. The IEA found coal in its stocking though, after a report the previous evening in the UK’s Guardian newspaper cited unnamed whistleblowers alleging the agency had been distorting its true view on […]
“We welcome the work of the Swedish Presidency in producing the compromise text. There have been significant concerns expressed about the original text of the Directive by Member States, by other stakeholders such as pension funds and the affected industries, and in a number of independent studies including one commissioned by the European Parliament, and we appreciate the time and […]
The South Florida Benefit for Hedge Funds Care is being held Thursday, December 3, 2009, from 7 p.m. until 10 p.m. at the The Betsy Hotel South Beach, coinciding with the Basel Miami Beach art show. The South Florida Benefit for Hedge Funds Care hopes to unite hedge funds, investors, local luminaries, and the financial and art world, for an […]
The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness (CCMC) reaffirmed its position on reforming America’s capital markets and outlined actions the administration, Congress, and the business community must take to help restore and strengthen our nation’s capital markets. The Chamber again called for modernizing the regulations governing our capital markets in a way that puts the economy, jobs, […]
The U.S. Department of Justice released the names of the eight defendants who were arrested yesterday, 5th Nov, 2009: 1. Zvi Goffer, who formerly worked at The Schottenfeld Group LLC (Schottenfeld), a broker dealer in New York, and currently operates a trading firm called Incremental Capital (Incremental), in New York; 2. Arthur Cutillo, an attorney at the law firm of […]
The Alternative Investment Management Association (AIMA) – the global hedge fund industry association – has reiterated its support for the registration of hedge fund managers in the U.S. and for the reporting of systemically relevant information by larger managers to national authorities in the interests of financial stability. The move comes as the bill (sponsored by Rep. Paul Kanjorski) that […]
George Town, Grand Cayman – The Cayman Islands signed a Tax Information Exchange Agreement (TIEA) with the Netherlands Antilles on 29 October 2009 whilst attending the CFATF Plenary, held in Curacao. The agreement, which is Cayman’s fourteenth, was signed on behalf of the Cayman Islands by Attorney General, the Honourable Samuel Bulgin, who was Cabinet’s authorised signatory. Mr Bulgin said: […]
Knight Capital Group, Inc. today announced that Knight Libertas has established a Global Emerging Markets Sales team based in Greenwich, Conn., Hong Kong and London. Effective immediately, the following have joined the institutional fixed income broker-dealer: Augusto Castilho, Eamon Tubridy, Alfredo Viegas and Elena Antonova in the U.S.; Alesandro Gherzi, Alisa Mujagic, Nipun Ramaiya, Darren Reiss, Richard Segal and Will […]
Paul N. Roth and Marc E. Elovitz of Schulte Roth & Zabel LLP., commented on the areas the SEC has been focusing on recently. Hedge fund advisers continue to be a significant priority for the Securities and Exchange Commission (the “SEC”) in its rulemaking, enforcement, and examination efforts. “The purpose of this article is to identify and discuss recent areas […]
The production decline rates for six examples of declining net oil exporting countries were all in the single digit range, and all but one were less than 5%/year. Continue reading
Stock Market Investing: The action of the equity markets over the last couple of weeks has been, to say the least, suspect. Today, the averages are testing support at the 50-day moving average and the uptrend line that goes back to March, the beginning of this Fed induced, government sponsored rally. For your edification I will highlight just a few […]
Chris Nelder, logi Energy-China: The Vampire Squid of Commodities, Part One
Against a GDP growth rate of 8-8.5%, the stagnant supply picture means that China’s demand for oil imports will grow from 4 mbpd today to over 10 mbpd by 2020. China now constitutes 7.5% of global GDP and 9% of global oil demand, which will soon grow into the teens. Continue reading →