Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
FierceFinance – David Einhorn, the head of Greenlight Capital, caused quite a stir at the Ira W. Sohn Investment Research Conference last year. He made it known that he was shorting Lehman Brothers, which was trading at $60 at the time. You know the rest of the story.
It’s no surprise that people, including a columnist for the New York Post, were interested in what he had to say at the conference this year. He didn’t deliver the same sort of shocker. Rather, he offered a sober analysis of the Obama Administration’s performance. He basically thinks that the focus on propping up banks hasn’t really done much to the economy as a whole.
Alibaba News Channel – Aggressive government action can hurt the market, but regulators should clamp down on leverage among banks and investors to prevent another credit crisis, veteran hedge fund manager Paul Singer said at a conference.
Singer said the current "anti-capitalist" fervor, inspired by last year’s market meltdown and the ongoing recession, will likely lead to increased regulation. These measures would only prolong the problem, he told some 1,200 hedge fund executives at the Ira Sohn Investment Research Conference on Wednesday.
By the same token, he observed that highly regulated banks fueled last year’s market implosion because they ramped up their use of leverage, or borrowed money, for trading and investments. High levels of leverage in a downturn can multiply losses and throw markets into chaos.
Reuters – Some of the country’s biggest and best-known hedge fund managers on Wednesday shared their best investment and short-selling ideas with an audience of some 1,200 hedge fund executives.
The annual Ira Sohn Investment Research Conference raises millions of dollars for pediatric cancer research, but its high wattage speaker list also moves stocks. Last year Greenlight Capital’s David Einhorn predicted that Lehman Brothers had more troubles than they had let on, four months before the investment bank filed for bankruptcy
Forbes – Aggressive government action can hurt the market, but regulators should clamp down on excessive borrowing by banks and investors to prevent another credit crisis, veteran hedge fund manager Paul Singer said at a conference.
Singer said the current ‘anti-capitalist’ fervor, inspired by last year’s market meltdown and the ongoing recession, will likely lead to increased regulation. These measures would only prolong the problem, he told some 1,200 hedge fund executives at the Ira Sohn Investment Research Conference on Wednesday.
Reuters – Aggressive government action can hurt the market, but regulators should clamp down on excessive borrowing by banks and investors to prevent another credit crisis, veteran hedge fund manager Paul Singer said at a conference.
Singer said the current "anti-capitalist" fervor, inspired by last year’s market meltdown and the ongoing recession, will likely lead to increased regulation. These measures would only prolong the problem, he told some 1,200 hedge fund executives at the Ira Sohn Investment Research Conference on Wednesday.
Bloomberg – At last year’s Ira W. Sohn Investment Research Conference, Greenlight Capital Inc.’s David Einhorn told an audience of hedge-fund managers that Lehman Brothers Holdings Inc. wasn’t disclosing the whole truth about its finances.
Four months later, Lehman filed the largest bankruptcy in U.S. history. The conference attendees who followed his advice got a jump on the rest of the industry. They also got a tax write-off since all the registration fees go to cancer research and an art-therapy program for seriously ill children.
The Bulletin – Hedge fund managers on average lost 18.7 percent of their clients’ money in 2008, for the worst performance since at least 1990, according to Hedge Fund Research Inc. Combine the losses with investor redemptions, and total hedge fund assets have been cut almost in half. TrimTabs Investment Research and Barclay Hedge Ltd. estimated funds held $1.1 trillion at the end of the year, down from $1.9 trillion a year earlier.
One rare bright spot: the resilience of global macro fund managers, who wager on currencies, equities, interest rates and commodities based on their fundamental analysis of world economic trends.
The Age – Hedge fund managers on average lost 18.7% of their clients’ money in 2008, for the worst performance since at least 1990, according to Hedge Fund Research Inc.
Combine the losses with investor redemptions, and total hedge fund assets have been cut almost in half. TrimTabs Investment Research and Barclay Hedge estimated funds held $US1.1 trillion ($1.7 trillion) at the end of the year, down from $US1.9 trillion a year earlier.
One rare bright spot: the resilience of global macro fund managers, who wager on currencies, equities, interest rates and commodities based on their fundamental analysis of world economic trends.
