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As investment banking is now dead and sell side research is even more useless than it ever was, people are stumped over how and where to get their investing ideas.

As investment banking is now dead and sell side research is even more useless than it ever was, people are stumped over how and where to get their investing ideas.

A hedge fund run by a former bail bondsman? He had a swimming pool in his office? $45 million hedge fund?

Sigh. Read all about Rod Cameron Stringer,43, and RCS Capital.

In a move geared to stop the daily drainage of its currency reserve, Russia is considering "dirty-floating" the ruble. While we are not sure what dirty floating is, but sure like the sound of it, we assume the impact on the ruble will be to send it plummeting.

In a move geared to stop the daily drainage of its currency reserve, Russia is considering "dirty-floating" the ruble. While we are not sure what dirty floating is, but sure like the sound of it, we assume the impact on the ruble will be to send it plummeting.

Investors with $300 million burning a hole in their pocket will be able to pick up the triple hook rated piece of media paper at a 14.5-14.75% yield. We say no way jose.

Well, can't say we didnt see it coming. Portugal was downgraded with impunity by S&P from AA- to A+ on the belief that "the government's structural reform measures relating to the economy and public finances have proven insufficient to bring about convergence with the 'AA' peer group." And what a high quality peer group it is.

Well, can't say we didnt see it coming. Portugal was downgraded with impunity by S&P from AA- to A+ on the belief that "the government's structural reform measures relating to the economy and public finances have proven insufficient to bring about convergence with the 'AA' peer group." And what a high quality peer group it is.

The entire airline space today was getting whacked in early trading. Delta was down over 10%, United was down roughly 9%, and American was down over 20% after the last two announced weak earnings with the major culprits given were a sharp drop in capacity and load factors on the revenue side, and bad fuel hedging on the cost side. American is being punished the most as it noted it still has 45% of its Q1 fuel hedged at $2.58/gallon or $108/barrel.

Bloomberg is reporting that last quarter investors withdrew $152 billion from hedge funds. While i have read about 10 different version of this number (anywhere from $100 to $300 billion) this is amazing considering that virtually every hedge funds has gated redemptions.

Bloomberg is reporting that last quarter investors withdrew $152 billion from hedge funds. While i have read about 10 different version of this number (anywhere from $100 to $300 billion) this is amazing considering that virtually every hedge funds has gated redemptions.

Looks like Mary Schapiro is eager to do something on her first day in office. Instead of focusing on the $1 trillion asset bubble and the thousands of scammers and ponziers, she has decided to go thru Steve Jobs' dumpster and check for old syringes and pill bottles. Enough already - give the man some peace.

In his 2008 self evaluation letter, Richard Perry notes all the mistakes that the markets did last year in not agreeing with his assessment of what sound investments are. Notable among them is the short squeeze in Volkswagen shares, which the 1 Sutton Place resident attributes as the main cause to his -26.8% performance in 2008.

At 9PM Eastern, the Chinese will announce their Q4 annualized GDP YoY change number. The consensus is 6.8% according to Bloomberg. This is a drop from 9% as of the prior reading. As Paul Kedrosky observes, the likelihood for a (much) lower number should not be excluded... 0% China GDP growth was presented as one of the major fat tail events of 2009 which in the current market environment means it is an almost virtual certainty.

The man who had lent Bill Clinton his chopper, was found dead on Monday in an apparent suicide. Patrick Rocca, 41, died from a single gunshot to his head in his home in Holmeleigh, an exclusive residential enclave on the edge of Dublin's Castleknock Golf and Country Club.