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

Womens Slip On Sexy Creeper Platform 27505 Chic Over The Knee Boots Wedge Heel Slip On Shoes 54e67b1
Womens Slip On Sexy Creeper Platform 27505 Chic Over The Knee Boots Wedge Heel Slip On Shoes 54e67b1 - 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.


L.K. Bennett Womens Booties Size 40 10 Black Suede Zipper Closure Slim Heeladidas usa size 5,5 women suede black winter snow Boots 36.5Clarks Black Crinkled Leather Nikki Star Buckle Ankle Boot 8 NewWOMENS JUSTIN L2667 BROWN PINK SQUARE TOE LEATHER COWBOY WESTERN BOOTS 8.5~1/2 B , Nine West Nesica Black Fashion Casual Dress Pull On Business Heel Boots Size 7Marc Fisher Kabie Black Tall Shaft Low Heel Riding Boots NEWCole Haan Womens Air Petra Strap II Side Zip Casual Knee High Tall Riding BootsDromedaris Ginger Black Leather Snakeskin Patent Ankle Booties Size 39 US 9-9.5 , Dromedaris Ginger Red Leather Snakeskin Patent Ankle Booties Size 40 US 10-10.5 , J. Crew MacAlister Brown Leather Ankle Boots Wedge Crepe Heel Size WOMEN'S 8Womens Nine West America Vintage sz 7 Leather Shearling BootsBCBGirls Tall Brown Leather Cowboy Western Boots Side Zipper Womens 10B , Alberto Fermani Womens Boots Size 38 8 Brown Leather AnkleBar Iii Women's Dove Ankle-High Boot , Sixtyseven Anthropologie Tan Camel Suede Tall Boots - Size 8/38 Made in Spain , Women Combat Boots Fashion Keen High Cool Retro Style Back Zipper Chain DesignThe North Face Womens Amore II Shiny Radiance Purple/Blue Winter Boots (8) NIB , Womens Sweater Top Faux Suede Fur Lined Buckle Combat Block Heel Knee High Boots , Nwob Peeptoe knit elasticated material black color midcalf pull up boots sz 9.5TONY LAMA WOMENS 6.5 B SADDLE VAMP BROWN LEATHER ROUND TOE RIDING COWBOY BOOTS , Dr. Martens Doc Martens Women's Size 8 Brown Leather Ankle Hiking Boots Mens 7 , $228 J. CREW Black FRANKIE Tumbled Leather Ankle Boots Pebbled Zip Booties 9.5 , Marc Fisher Black Suede Wilde Stacked Heel Ankle Boots Bootie NEW , Steve Madden Suede Zip Ankle Boots Women Fall Studs Black Praque 8.5US $149.95Aldo Womens Brown Work Boots Waterproof Shoes Size 10.5M Thinsulate Snow Winter , TONY LAMA BROWN OSTRICH BOOTS SIZE 8BANTONIO MELANI "MACEY" 100% LEATHER BOOTS MADE IN BRAZIL~BROWN~ 7M NEW , womens gray NOCONA cowboy western boots embroidered leather rodeo ranch 7 D W , Women's Shoes Qupid MONTANA 27X Pointy Toe Ankle Boots BEIGE / BROWN SNAKE *New* ,


More Stories



Tags
Ladies Spot On! F50333 Black Synthetic Casual Zip Up Wedge Ankle Boots , Womens short black leather boots. Size 9.5. RUFF HEWN. NEWnew ladies Womens Black Round Toe Sexy Ankle Boots Side Buckles Size 5 , Isaac Mizrahi Navy Blue Quilted Nylon Water Resistant Sleet Duck Boot NEWOlsenboye Brown Western Cowboy Boots Women's Size 11Womens 6.5 M Justin Boots Casual Rustic Brown Leather Cowhide Chukka L0991 WorkReport Moriah Women Round Toe Suede Brown Ankle Boot Tan Size 5.0 FGkvEcco Hobart Brown Leather Knee High Riding Buckle Boots Womens Size 35 M*NEW WOMEN'S FAUX LEATHER DARK BROWN KNEE-HIGH 4 1/2" HEEL BOOTS SIZE 6 1/2 M(B) , Merrell Soren Hiking Trail Women Boots New Size 5.5 7 7.5 9Rue Du Jour Italy Tan Suede Casual Loafers Shoes Womens Size 9.5 M PristineCOBRA SOCIETY Sage Calf Hair & Leather Najet Loafers Shoes 5 6 7 8 11 12NIB FitFlop Women’s Houndstooth Print Superskate Slip-On Loafer Navy 9M Tassles , Clarks Ayla Band Navy Synthetic Nubuck Womens Slip-On Size 11MLADIES SHOES/FOOTWEAR -Cabello shoe 5220 navyNEW WOMEN'S DR. MARTENS 1461 MULTI COLOR GLITTER LEATHER OXFORDS US SIZE 10 , Camper Isadora Womens Ballet Flat /- Choose SZ/Color. , French Sole Womens horizon Closed Toe Mules Blue Size 8.5 , NEW Ceri Hoover Miller Mules Clogs Size 6 , Twisted X Women's Cheetah Print Driving Moccasins Moc Toe Leopard 10 MAndrew Charles 4150003 CAPRETTO MALABAR ORANGE ballerina shoes Women's Orange USRalph Lauren Bethania Knee High Rain Boots Women Brown Gray Plaid Size 8 NIB $79 , Women Adidas CG5462 Superstar Running shoes white orange sneakers , Nike Air Presto Ultra SI Womens Mushroom/ Deadly Pink-Black 917694-200 NewSaucony Oasis 2 Womens Size 8 Running Walking Athletic Sneakers Shoes GWomen's Olive Street Minnetonka BootsWomen's PASSPORT BROWN SIZE 8.5 BOOTS BootsROCK & REPUBLIC EMILE BLACK MID CALF RIVETED BOOTS WOMENS SHOES SZ 6 M NEW $110 , PUMA Women's Fierce Swan Wn's Cross-Trainer Shoe - Choose SZ/Color , Nike Free RN Flyknit Women's Running Shoe 831070 300 Size 10 ,

Womens Slip On Sexy Creeper Platform 27505 Chic Over The Knee Boots Wedge Heel Slip On Shoes 54e67b1 - digitalcraftmedia.com




Boots
6173896
10857955
14210121
14293882
14728701
15543134
16629714
18458498
19023396