August 12, 2008
"Commodity Mania"
"Are investors driving
commodity prices or is it simple supply & demand?"
Some observers attribute the soaring commodity prices to institutional fund inflows into commodities, arguing that the surge of such funds, often called speculative or hot money, has led to large price jumps in everything from gasoline to gold jewelry to bread and clothing around the world. Others contend that financial contracts such as futures, options, swaps and ETFs enable farmers, producers, processors and merchants to hedge/manage much higher volatility in the commodities sector.
Our panel will discuss wherein lies the probable truth and will look to answer the questions and concerns that have resulted, including:
- Have the economic booms in India and China; the developing infrastructure in places like Dubai; and the rising popularity of biofuels produced by corn and other crops increased demand
- Have "hoarding" commodity exporting nations or other environmental factors, as well as panicking farmers, traders and consumers resulted in a decrease in supply?
- Will regulation come into play that will influence how investment in commodities takes place as well as who can invest in them?
- What are the potential remedies to price spikes and where can they be found
- Is there a valuation problem…are we getting valuations right?
- Is the securitization of commodities a contributing culprit to rising commodity prices?
- Is the commodity bubble an early warning for the commodity meltdown – should we expect that there will be a commodity financial crisis?
Opening Remarks:
Christopher Earley,
Ph.D., Dean, School of Business, University of Connecticut
Moderator:
Dr. Shantaram Hegde, Finance Professor, University of Connecticut (our academic partner)
Panel:
Panos Ninios, Managing Director, Head of Energy Research, Plainfield Asset Management
Steve Matthews, Commodities Strategist, Tudor Investment Corporation
Virginia R. Parker, President, Parker Global Strategies
Menachem Sternberg, Chairman & CEO, Eagle Trading Systems, Inc.
Closing Remarks:
Benjamin (Ben) Allensworth,
Senior Legal Counsel, Managed Funds Association (MFA)
Please reserve your place early to join the Connecticut Hedge Fund Association members and guests for this event on August 12th.
| When: | Tuesday, August 12, 2008 |
| Time: | 5:30pm to 8:30pm |
| Where: | Delamar Hotel, 500 Steamboat Road, Greenwich, CT |
| Cost: | CTHFA Members: No Charge Non-Members: $150.00 UCONN Students: First 20 UCONN Students to Register are Free! ($75/ea after) |
June 21, 2008
1st
Annual Hedge Fund Charity Pro-Am Golf Tournament
All
proceeds donated to The Hole in the Wall Gang Camp
Each Golfer played with PGA Tour Professionals from the field of the 2008 Travelers Championship and each received:
| • |
1 Round (18 holes) of Golf at The Course at Yale – 1 of the 50 Top Classical Golf Courses in the US |
| • |
Breakfast, lunch and on course refreshments |
| • | Gift Package Valued at $500 |
| • |
1 Pro-Am Participant Badge valid for Grounds Admission all week (June 16 – 22) at the 2008 Travelers Championship at TPC River Highlands |
| • |
1 Pre-Tournament Practice Round at TPC River Highlands |
| • |
2 Pro-Am Pairing Party Invitations Sunday, June 15 |
| • | 2 Pro-Am Reception Invitations Wednesday, June 18 |
| • | 5 Daily L&T Infotech Sponsor Club Tickets each valid any one day Wed. – Sun., June 18 - 22 |
| • | 1 Lot Weekly Parking Pass Wed.-Sun., June 18 - 22 |
Individual entries were $2000 per golfer and foursomes were $8000. Sponsorship opportunities are always available. 100% of all proceeds from golfer entry to go directly to The Hole in the Wall Gang Camp. Only 48 spots were available for this tournament, come play with a pro, all while helping a great cause.
The Hole in the Wall Gang Camp was founded by Paul Newman in 1988 and is located in Ashford, Connecticut. Their program enables children with cancer and other serious illnesses to enjoy a quality camping experience. Camp attendance offers a critical experience in the life of a seriously ill child, providing the opportunity to participate in swimming, boating, horseback riding, crafts, sports and discovering along the way that they are able to do more than they every thought possible.
| When: | Saturday, June 21, 2008 |
| Location: |
The Course at Yale (Ranked in the Top 50 Classical Golf Courses in the United States) |
January 30 - "Investing in Climate Change"
Climate change may be the most important issue of our time, and has taken center stage at the World Economic Forum and most recently at the UN’s Climate Change Conference in Bali. The Connecticut Hedge Fund Association together with the Yale University Center for Business and the Environment, our academic partner from Yale University, have organized a symposium of insurance and investment leaders to explore risks and opportunities as well as the new Green Exchange trading platform established by a NYMEX-led consortium of leading financial institutions. This event is being made "Carbon Neutral" through the purchase of emission offsets.
| Welcome Remarks: | Thomas R. Sullivan, Commissioner Insurance Department, State of Connecticut |
| Opening Remarks: | Win J. Neuger, Commissioner Insurance Department, State of Connecticut |
| Panel Discussion: | |
| Moderator: | Bradford S. Gentry,
Co-Director, Center for Business and the Environment at Yale; Co-Director and Director, Research Program on Private Investment and the Environment |
| Panel: |
Paul J. Ezekiel, Global Head of Carbon Trading for Credit Suisse Andrew Ertel, President & CEO, Evolution Markets LLC Benjamin Block, Senior Analyst, Renewable Energy Strategy, Ardsley Partners Martin Whittaker, Director, Environmental Finance Strategy, Mission Point Capital Partners |
| When: | Wednesday, January, 30, 2008 |
| Time: | 5:30 pm to 8:30pm |
| Where: | Delamar Hotel 500 Steamboat Road Greenwich, CT Click here for directions |
| Cost: | CTHFA Members: No Charge Non-Members: $150.00 Yale Students: First 20 Yale Students to Register are Free! ($75/ea after) Yale Alumni (SW CT & NY): $75.00 |
December 11 - Holiday Wine Tasting
The Connecticut Hedge Fund Association will ring in the holiday season with a networking reception for its members and supporters on December 11th at the Delamar Hotel in Greenwich. We hope you will all save the date and make plans to join us as we look to toast the year passed and look forward to an exciting 2008!
| When: | Tuesday, December, 11, 2007 |
| Time: | 6:00 pm to 8:00pm |
| Where: | Delamar Hotel 500 Steamboat Road Greenwich, CT Click here for directions |
| Cost: | CTHFA Members: No Charge Non-Members: $125.00 ACG Members: $50.00 |
The Return of Volatility and the Credit Crisis
The summer of 2007 will go down as one of the most volatile in history. With this as a back drop, the Connecticut Hedge Fund Association, together with the University of Connecticut School of Business will host a symposium to examine the return of volatility, the credit crisis, and global markets.
The venue will be the historic NYSE building on Broad and Wall and a panel of top hedge fund managers from AQR, Angelo Gordon, and Pequot Capital have been assembled.
| Panel: |
Steven Zamsky, Managing Director, Pequot Capital Michael Mendelson, Director of Global Trading Strategies, AQR Capital Management Jonathan Kane, Managing Partner and President, The Patriot Group Bruce Martin, Managing Director, Angelo Gordon & Co. |
| When: | Thursday, October, 11, 2007 |
| Time: | 4:30 pm - 5:00 pm - Registration 5:00 pm - 6:30pm - Panel Presentation
6:30 pm - 7:30 pm - Cocktail Networking Reception |
| Where: | New York Stock Exchange 20 Broad Street New York, NY 10005 |
| Cost: | CTHFA Members: No Charge Non-Members: $150.00 |
4th Annual Hedge Fund Regatta
Thursday, July 12, 2007
The Connecticut Hedge Fund Association has sponsored 2 Boats in the 4th Annual Hedge Fund Regatta in New York’s North Cove to benefit the New York Harbor Sailing Foundation. Last year’s crew performed so well during our maiden voyage that this year we decided to sponsor two boats. If you would like to skipper a boat or serve on our crew, please contact the Connecticut hedge Fund Association at 203-319-1902.
Real Estate & Irrational Exuberance
The unprecedented rise in US Home prices from 1998 to 2006 has lead to an environment of irrational exuberance in the mortgage loan sector the likes of which have seldom been seen before. Much of the new lending has taken place in the sub-prime market which may be starting to show signs of collapse.
- Is the US real estate “bubble” ready to burst or will home prices continue to their perilous assent?
- Will a collapse of the sub prime market lead to US and global recession?
- Are savvy investors navigating these treacherous waters and uncovering alpha generating opportunities?
Please join the Connecticut Hedge Fund Association and the Yale School of Management Investment Management Club as we explore these vital questions with our panel of experts.
| Moderator: | Brian Sullivan, Host, Bloomberg Tevelvision's In Focus |
| Panel: |
Steven Zamsky, Managing Director, Pequot Capital Robert Shiller, Professor, Yale University Owen Lamont, Portfolio Manager, DKR Capital James Wong, Managing Director and Head of Investor Relations, Paulson & Co. Omair Sharif, Vice President & Economist, RBS Greenwich Capital |
| When: | Tuesday, June, 26, 2007 |
| Agenda: | 5:30 pm - 6:00 pm - Registration 6:00 pm - 7:30pm - Program 7:30 pm - 8:30 pm - Cocktail Networking Reception |
| Where: | Delamar Hotel 500 Steamboat Road Greenwich, CT Click here for directions |
First Annual World Hedge Fund Forum
March 5 - 6, 2007
Click here for complete details
How Would Hedge Fudns Behave in a Crisis
Systemic Risk Yesterday and Today
The stock market crash of 1987 and the bond market paralysis of 1998 severely tested global financial systems. In the case of 1998, it was decisive action by the New York Fed and others that staved off global financial disaster.
Today, investor interest in absolute return investment management is fueling the rapid growth of the $1.3 trillion hedge fund industry. By using leverage and trading more frequently, hedge funds’ impact on global financial systems far exceeds their stated assets under management. In addition, the rise of hedge funds has corresponded with the astonishing growth of the Credit Derivative Market.
Are there new systemic risks that are not fully appreciated, and are current financial systems equipped to handle any new crisis?
| Opening Remarks: | John Thain, CEO, New York Stock Exchange |
| Moderator: | Eileen Rominger,
Co-Director, Center for Business and the Environment at Yale; Co-Director and Director, Research Program on Private Investment and the Environment |
| Panel: |
Art Samberg, Founder & Chairman, Pequot Capital William McDonough,Vice Chairman, Merrill Lynch, Former President, New York Federal Reserve Hung Tran, Deputy Director, International Capital Markets Department, IMF Blythe Masters, J.P. Morgan Chase Investment Bank Michael Mendelson, Director of Global Trading Strategies, AQR Capital Management |
| Date: | Wednesday, October 11th |
| Location: | New York Stock Exchange 20 Broad Street New York, NY 10005 |