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S&P: 'Sooo...I Don't Know If You Know This But -40 Isn't So Good'

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S.&P. said the outlook for $500 million in debt of the Citadel Kensington Global Strategy Fund and the Citadel Wellington fund was negative and it warned that the ratings could be further downgraded if their actions and "market conditions fail to result in lower volatility and performance stabilization." S.&P. also said it was watching the pace of redemptions.
"The downgrade reflects Kensington/Wellington's negative performance in September and October of this year," said Daniel Koelsch, a Standard & Poor's credit analyst. He said their performance was inconsistent with "BBB+" ratings.
Accordingly, the funds' credit ratings were cut to BBB/A-3 from BBB+/A-2.
Mr. Koelsch noted in a statement that the year-to-date performance of Kensington/Wellington was approximately a negative 39.5 percent as of Oct. 31.

S.&P. Cuts Its Ratings on 2 Citadel Hedge Funds [Dealbook]


If You Love China So Much Why Don't You Marry It? a thing people, knowing his position on the country, have probably asked Jim Rogers before.  And don't think he hasn't thought of it! Unfortunately, the investor is spoken for. Having said that, Rogers is thrilled at the prospect of his daughters', ages 4 and 9 years-old, marrying one of China's native sons and is currently accepting applications from potential suitors. The US has become world's biggest debtor nation in history, while China, Japan and South Korea are the major creditor nations. If the renminbi can be exchanged freely in the world, "I prepare to invest in China for 100 years," Rodgers added. The smart investor keeps all Chinese shares for his young daughters: nine-year-old Happy Rogers and four-year-old Little Bee, and welcomes Chinese men as his potential sons-in-law. "He must be very intelligent, older than my daughter, and have had a wide variety of experiences in life, and a great career will be a plus," he said at the forum. A Chinese student among the audience said he would try his best to meet the demands; the investor immediately gave his business card to the young man, which triggered laughter at the scene. Investor Jim Rogers to wed his money and daughters to China [WCT]