- Marketwatch: Indonesia and India are emerging markets to watch
According to researchers CLSA Asia-Pacific Markets, Asia’s infrastructure is growing at dramatic rates. Most investors are looking at China, where infrastructure spending is growing at about 60%. Both India and Indonesia are growing at even faster rates.
India has been the second-biggest spender on infrastructure in Asia over the past year.
A rogue trader at MF Global Ltd. rang up $141.5 million in losses on the broker’s account this week . . .
An entry-order system that should have blocked the trades failed, the company said.
Mr. Dooley had bought a few thousand lots of wheat futures contracts on the Chicago Board of Trade, MF Global said. The price of wheat has surged in the past month because of constraints to global supply and swelling demand from China.
MF Global’s chief executive, Kevin Davis, said Mr. Dooley did not have nearly enough cash to support such a big position, and the computer system should have nixed the trade.
Blame the damn IT guys!
Dellacamera, 54, is a hedge-fund manager with years of experience in vulture investing, the strategy of buying assets at distressed prices in an effort to profit when prices recover.
He is one of several investors — among them Goldman Sachs Group Inc., the world’s biggest securities firm; private equity firm Equifin Capital Partners; and billionaire Wilbur Ross — seeking to make money from the collapse of the subprime mortgage market while helping borrowers hold on to their homes.
Dellacamera says . . . he is planning to raise $1 billion from investors willing to bet there’s money to be made from the mortgage mess, one loan at a time.
Gotta hand it to GS: making money on the way up & on the way down!