Readings: Oil Bubble, Hedge fund trends, Akshaya Tritiya gold sales
- Paul Kedrosky: Oil Just Out-Bubbled the Tech Bubble
- Deutsche Bank: 2008 Alternative Investment Survey
Over 30% of investors are holding cash, and most commonly at levels somewhere between 5% and 10% of their own hedge fund portfolios. While we have seen investors take a “wait and see” approach to the hedge fund market over the last two quarters, 53% of investors holding cash now plan to eliminate their cash holdings by March 2009. This would suggest a renewed willingness to make allocations to hedge funds.
The Middle East/North Africa and Russia both appear as choices on the survey for the first time and investors expect them to perform well. Notably absent from the top are Asian regions, which were favored in our last two surveys.
For the first time on our survey we asked investors about their opinions on India-focused hedge funds. 25% of investors plan on increasing allocations to this space.
Economic Times
May 7: Gold sales may rise 40% this Akshaya Tritiya
This Akshaya Tritiya day, south India’s biggest gold buying festival, jewellers are expecting a whopping 35-40% growth in sales over last year’s all India sales of close to 780 tonnes. Industry experts attribute it to increasing popularity of the festival among the people and rising disposable incomes. Gold prices which have fallen after hitting an all time high in March is also expected to boost demand for the yellow metal.
May 8: There’s no big rush for gold on Akshaya Tritiya Day 1
The retail demand for gold on the auspicious event of Akshaya Tritiya in the Hindu calendar, that spans two days this year (May 7-8), is reportedly about 50% lower than the previous year, according to traders estimates.
Gold sales may cross around 5 tonne in the next two days, Mr Kothari said, though clear estimates would emerge once jewellers take stock of their inventories.
Predictions are tough, even one a 1-day time frame. Especially with ‘experts’ involved. 
