September, 2018 (Volume: 35 / Issue: 9)
In Focus

RALPH LRL LAUREN LRL Espadrilles Blue US Ballet Flats Leather Shoes Espadrilles US 9.5 $110 e51c7ac
RALPH LRL LAUREN LRL Espadrilles Blue US Ballet Flats Leather Shoes Espadrilles US 9.5 $110 e51c7ac - digitalcraftmedia.com

Einhorn ... blasting frackers

Greenlight’s Einhorn slams oil frackers for burning cash

The hedge fund manager, who often unveils short-bets against companies at these events, cited Pioneer Natural Resources as a particular offender

BILLIONAIRE hedge fund manager David Einhorn, who often moves a stock simply by speaking its name, kicked off the year’s most prominent investment conference by laying out a case against oil frackers, arguing these companies drill “lots and lots of holes” and burn through plenty of cash.


Einhorn, who often unveils short-bets against companies at these events, cited Pioneer Natural Resources as a particular offender at the 20th annual Sohn Investment Conference. “We call it the motherfracker,” he said, prompting investors to kick the share price down as much as 5.3 per cent. The company should trade closer to $78 a share, he said, not the $166.50 the stock is trading at now.


“Pioneer is burning cash and its reserves are not growing,” said Einhorn, who runs $11 billion Greenlight Capital, adding “Pioneer ought to stop touting estimates based on stale pricing.” The company is losing 20 cents of present value for every dollar it invests.


Einhorn also mentioned EOG Resources, which he called the “father fracker,” Concho Resources, Whiting Petroleum and Continental Resources.


Last year Einhorn unveiled a short bet against athenahealth at a previous Sohn conference and was the first to underscore problems at Lehman Brothers months before the investment bank filed for bankruptcy.


Einhorn was one of the few investors at the conference who unveiled a short bet, as most other investors put forth ideas that investors can buy and hold.


Leon Cooperman and David Tepper talked about markets and sought to soothe investors fearful that the long-running equities bull market might be over.


Tepper, founder of Appaloosa Management, shocked markets a year ago by warning that investors should not be too long in the stock market. He said that investors should not be “too long bonds, not too short stocks” and warned that investors should be careful with commodity investments.


Investors at this conference, even the billionaires, are told to keep it short and talk no more than 15 minutes. Tepper who didn’t use all of his time joked that he would sell some of his unused minutes to Bill Ackman, who is known for speaking at a breakneck pace to race through dozens and dozen of slides.


Cooperman, who runs Omega Advisors and has long been saying the stock market would continue to climb, stuck by his bullish outlook, saying the stock market can still end higher this year. “If there is a bubble out there, it is not in the stock market,” Cooperman said, adding it may be in the fixed income market.


He pitched a handful of US-based companies including Google, Dow Chemical, Priceline Group and drugmaker Actavis.
Picking up on the pharmaceutical industry theme, Larry Robbins, who runs Glenview Capital Management, touted AbbVie, saying the stock price could double. The company’s price is relatively cheap and management is disciplined, Robbins said.


Even though AbbVie called off a planned $55 billion takeover of Shire late last year, industry analysts are still holding out forecasts that the breakneck pace of mergers and acquisitions in the pharmaceutical industry will continue. The company could be taken over or it could be the one taking over someone else, Robbins said.


Ackman, founder and chief executive of Pershing Square Capital Management LP, talked about his most recent addition to the portfolio: Canadian pharmaceutical company Valeant Pharmaceuticals International Inc VRX.TO, which he called “massively undervalued.” He said companies that buy up others at a steady pace are often misunderstood and said Valeant, which announced plans to buy Salix earlier this year, is an early stage Berkshire Hathaway, referring to Warren Buffett’s company.


Keith Meister, a former Carl Icahn lieutenant who now runs $8 billion Corvex Management, focused on fast food restaurant chain Yum Brands, saying his firm is one of the five largest investors and that the company is Corvex’s second-biggest investment ever. Daniel Loeb’s Third Point said it had taken a significant stake in Yum.


Andacco Eldro Womens Comfortable Flat Leather Sandals Made In BrazilFitFlop Black Sequins Superskate Slip on Loafer Shoes 9 41 New2018 SANDRO Agata Pointed Leather Ankle Tie Flats Sz 37 6.5 7 , Womens Fly London Pump Office Ballerina Work Wedge Heel Luxor Black Shoe US 5-12CROCS STRETCH SOLE FLAT WALU BUSY DAY SLIP ON ALICE SHOE~Black Grey Pink~W 7~NWT , Juicy Couture New Womens Anita 9.5 M Platino Dust Metallic Suede Flats Shoes , Ladies Van Dal Shoes - Cagney , Loeffler Randall Beige & Black Pony Hair Pointed Flats SZ 6.5B , Free People OXS Tennis Shoe Size 38 EURO $288Skechers Go Step Distinguised Womens Comfy ShoesMarc Fisher Womens Keisha B/W Patent Loafers Shoes 6 Medium (B,M) BHFO 9810 , Skechers Womens Rodessa Comfortable Slip Resistant Work ShoesPlanet Shoes Ally J Womens Soft Leather Comfortable Flat Casual Shoes , Scholl Orthaheel Cooma Womens Comfortable Shoes With Adjustable Strap , Womens Lacoste Shoes White Silver Carnaby EVO 118 6 SPW White Sneakers NEW , Aerosoles Women's Size 8 Spin Cycle Comfort Ballet Flats Soft Gold Combo Shoes$350 Vince d'Orsay Flats Reptile Embossed Taupe, Sz 39.5 US 9.5 , Manolo Blahnik Red Leather Bow Accent Ballet Flat Shoe Size 37.5 7$370 PRADA Brown Pebbled Buckle Driving Mocs Loafers Womens Shoes 37 7G.H. Bass & Co. Womens Wynn Velvet Casual Round Toe Mules Flats BHFO 5444PRADA | Pointy Ballet Flats w/ Button Detail – Size 36.5 M , Arcopedico LS 1151 Black Womens Fabric Comfort ShoesWomen's Pikolinos Brown Cutout Oxfords Sneakers Sz 39 US 8.5-9ZARA NEW WOMAN LEOPARD PRINT FLATFORM SNEAKERS SHOES 35-42 REF.5407/301Planet Shoes Lux Womens Comfort Lightweight Slip On Casual Shoes , Mephisto France Match Runoff Ivory Walking Comfort Shoes Oxfords Womens sz 7.5 MDansko Ellie Black Leather Slip On Shoe/Sneaker Women's sizes 36-41/6-11 NEW!!!SAS WEAVE BLACK WOMEN'S BLACK SLIP ON LOAFER SHOES NEW IN BOXFitFlop Deep Plum Purple Suede Loaff Slip on Mule Clogs Shoes 9 41 New


More Stories



Tags
NWOT Men's Black Temp Rated -5 Degree Fleece Lined Nylon Boot Vinyl Upper Sz 9 , NEW Womens Fashion Boots Shoes Buckles Knee High Military Combat Motorcycle HOTSanita Maddox Women's Wedge Booties SZ 6.5New QUPID green black brown lattice back zipper ankle boots 6m ladies $40 nice! , 2018 women snow boots waterproof calzado mujer winter sapato feminino women's , PUMA Smash V2 L Perf Women's Sneakers Woman Low Boot Basics NewMarc Fisher Black Suede Serenity Peep-Toe Ankle Bootie NEW , Ladies Boots Grosby Raven Black Knee High Boot Stretch Black Size 6-11 , Franco Sarto Idrina Heeled Ankle Bootie Brown Suede Size 6.5 , Roxy Womens Montes Winter Boot- Pick SZ/Color.Ariat Women's Terrain Pro Shoe Boot Color Shadow  7 B Wore for about 1 Hr.French Sole Womens Onstage Pointed Toe Slide Flats , NAOT Eden Taupe Soft Leather Slip-on Shoes Clogs 38 - US 7Enigma Women's Zip Up Ankle Buckle Wedge Fashion Boots Taupe BC600 , Ecco Size 10 10.5 Eur 41 INTRINSIC KARMA Purple Sporty Flats New Womens ShoesDr.Martens 4 Eyelet Charlotte Cherry Womens ShoesNEW Kennel & Schmenger Embellished Jewel Malu Ballet Flats Black Suede 6.5 UK4No21 8610 Embellished Jewel Oxford Flats, Black, 7.5 US / 37.5 EU , Womens Dark Green Metallic Leather Studded Flat Mule SlidesNIB Bed Stu Women's Rose Leather Oxford Shoes in Tan Rustic Mason size 7 , Eastland Women's Sunrise Boat Shoe Tan 8 B(W) US , JOE N JOYCE Malaga Valencia Espadrilles - Blue Beige , Merrell Women's Freewheel MOC Fashion Sneaker, - Choose SZ/Colorvt33482 Shop Art woman's black sneakers , Wmns Nike Free RN Motion Flyknit 2017 FK Strap Womens Running Shoes Pick 1 , Womens High Top Hidden Heels White Sneakers Zip Side Casual Sport Shoes HOT I564Women's BED STU Desi Shoe Flats , Women's 2nd Amendment Women's-Canvas-Shoes-Free-Shipping BootsWomen's Aerosoles suede bo BootsDearfoams Women's Terry Moc Toe Clog Slipper Black Microfiber Terry Slippers ,

RALPH LRL LAUREN LRL Espadrilles Blue US Ballet Flats Leather Shoes Espadrilles US 9.5 $110 e51c7ac - digitalcraftmedia.com




Flats
3102343
4967529
5775685
7510766
9262903
11133349
11181372
13366254
14640190