Random Interesting Stories This Morning
By:
TraderMark Tuesday, February 19, 2008 10:15 AM
Some interesting stuff on Bloomberg this morning....
I like to talk about how computers really run the Street nowadays... a
few interesting facts I did not know- Hedge fund assets have swelled to $1.87 trillion, almost four times more than in 2000, according to Chicago-based Hedge Fund Research Inc.
- Referring to the slowing economy, he said ``the effect is going to be very muted by the fact that a large part of the participants right now don't really care whether the market is going up or down.''
- Citadel Investment Group LLC -- Kenneth Griffin's Chicago- based hedge fund named to suggest a stronghold in volatile markets -- uses mathematical models and advanced computer systems to make investments that translate into about 5 percent of U.S. equity trading. (Citadel is one of the most amazing stories ever; a story about them here - but I did not realize they literally own 5% of all trades, wow)
- D.E. Shaw & Co., which oversees $35 billion, relies on automated, 24-hour-a-day strategies that exploit shifts in asset prices around the world. The New York- based fund accounts for between 1 percent and 2 percent of trading at the NYSE.
No surprise with the Chinese storms but
inflation is now highest in China in 11 years. Keep in mind this is WITH price controls rampant in this society; and also keep in mind food is a huge proportion of expenses for the vast majority in this country. We hear about the rising middle class in China constantly, but the great majority are still rural poor.
- China's inflation accelerated to the quickest pace in more than 11 years after the worst snowstorms in half a century disrupted food supplies.
- Consumer prices rose 7.1 percent in January from a year earlier, the statistics bureau said today, after gaining 6.5 percent in December. That was more than the 7 percent median estimate of 23 economists surveyed by Bloomberg News.
- Food prices soared 18 percent after blizzards paralyzed transport systems and destroyed crops.
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