Bear Stearns Says There is `No Value Left' for Investors in Failed Funds

(Bloomberg) -- Bear Stearns Cos. told investors in
its two failed hedge funds that they will get little if any money
back after ``unprecedented declines'' in the value of AAA rated
securities used to bet on subprime mortgages.

Estimates show there is ``effectively no value left'' in the
High-Grade Structured Credit Strategies Enhanced Leverage Fund
and ``very little value left'' in the High-Grade Structured
Credit Strategies Fund, Bear Stearns said in a two-page letter.
The second fund still has ``sufficient assets'' to cover the $1.4
billion it owes Bear Stearns, which as a creditor gets paid back
first, according to the letter, obtained yesterday by Bloomberg
News from a person involved in the matter.


Read more at Bloomberg Bonds News

Anaren, Avanir, Caterpillar, Ford, Parametric, Pool: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:10 a.m. in New York.

American Capital Strategies Ltd. (ACAS US) rose $1.80, or
4.2 percent, to $44.80 in trading before U.S. exchanges opened.
The specialty finance company will replace Dollar General Corp.
(DG US) in the Standard & Poor's 500 Index, S&P said in a
statement.


Read more at Bloomberg Stocks News

Cantor Fitzgerald Says It Avoided Losses on Bear Stearns Hedge Funds

(Bloomberg) -- Cantor Fitzgerald LP said it avoided
losses from loans to money-losing hedge funds run by Bear Stearns
Cos. after selling its collateral in the riskiest fund.

Cantor Fitzgerald sold its remaining securities in the High-
Grade Structured Credit Strategies Enhanced Leverage Fund in an
auction yesterday, spokesman Robert Hubbell said in a telephone
interview.


Read more at Bloomberg Bonds News

Capital Strategic Sells $50 Million of Bonds to Hedge Fund Stark, 6 Others

(Bloomberg) -- Capital Strategic Investment Ltd., a
Hong Kong-based investor in real estate, will raise HK$390
million ($50 million) after agreeing to sell convertible bonds to
seven investors including hedge fund Stark Investments.

The investors -- Stark, Lehman Brothers Holdings Inc.,
Citadel Equity Fund Ltd., Perry Principals LLC, Credit Suisse
Group, Harmony Investment Fund Ltd., and SBI E2-Capital
Securities Ltd. -- can convert the five-year 2 percent bonds into
Capital Strategic's shares at 51 Hong Kong cents apiece, 29
percent above the closing price yesterday, the company said in a
statement to the Hong Kong Stock Exchange today.


Read more at Bloomberg Emerging Markets News

How much do shares really cost?

When buying shares you don't just pay the price of those shares there are lots of hidden costs.For example, if you bought a 1 000 Standard Bank shares at R70 each with Standard Bank online, you would pay either 0,7% of the value of the shares, or R89, whichever is the greater. On top of that you would pay UST (Uncertificated Securities Tax) and a Strate (share transaction totally electronic) fee


Read full article at Moneyweb.co.za