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

Korean style Round 3 On Color Women's Wedge Round Toe Platform Wedge Heels Pull On Ankle Boots 3c837a7
Korean style Round 3 On Color Women's Wedge Round Toe Platform Wedge Heels Pull On Ankle Boots 3c837a7 - 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.


NIKE YOUTH BOOTS CHENUMO WS (GS) 324533-061 Youth Size: 5, 5.5, 6 DEADSTOCKReebok Classic CL Leather Clean Exotics Women's Shoes Black/Chalk V68796Womens Snow Boot Nylon Short Fur Rain Winter Quilted Snow Warm Boots US 5-10The North Face Women's 9 Primaloft 200 Gram Insulation Brown Boots Waterproof , Bare Traps Paramount Black Tall Shaft Riding Boot NEW , My Hero Academia All Might Cosplay Shoes Boots Custom MadeNew! 8100 Melrose Black Leather 3 Buckle Biker Platform Mid Calf Boot , b4b COLUMBIA Minx Slip II Womens 8 / 39 Omni-Heat Pull-on Waterproof Snow Boots , Women Casual Fashion Sneakers Wedge Heel High Top Shoes Black White 5405_ICGUESS WOMEN'S DAKODA RIDING BOOT SIZE 6.0 GREAT DEAL , MARC JACOBS shoes heels rain pink boots 38 8 , H by Halston Grey Leather Pointed Toe Rachel Wedge Boot NEW , Hokkaido-3 Over Knee Thigh High Snake Skin Pointed Toe Stiletto Heel Boots , Steve Madden Pammie Black Leather Pointed Toe Bootie 8.5 NewZara Women Kitten heel mules with bow US7.5,EU38, 7236/201Franco Sarto Brown Distressed Leather Domino Ankle Boot 9 NEW , The North Face Thermoball Women's Size 8 BLUE Micro Baffle Winter Boots (A01) , Isaac Mizrahi Wilder Cognac Brown Leather Ankle Boot NEW , Vintage Woman's Brown Ankle Boots Size 7.5 Booties , Bumper Belle-04 Suede New Women Round Toe Fur Shearling Foldable BootVictoria's Secret Colin Stuart Winter Fashion Fur Boots Sz. 7New Palladium Tan CAMO ARMY PAMPA HIGHT Boots Canvas Casual Desert Shoes 38 US 7Alberto Fermani Brown Suede Chunky Heel Ankle Boots Size 39 9 , Women Casual Fashion Sneakers Wedge Heel High Top Shoes Black White 5405_0C , BCBG Womens Hans Light Brown Pull-on Equestrian Fashion Cowgirl Knee High Boots , BCBGeneration 9 Black Suede Laser Cut High Heel Ankle BootsWomen High Heels Stilettos Pointy toe Leather Knight Over Knee Thigh Boots ShoesEddie Marc Buckle Heel Boots Coffee with Buckle Size US 9Nine West Women's Black Tall Boots Silver Buckle Knee High M Dipper Size 8 M


More Stories



Tags
Mossimo Supply co. ankle booties black women high heels size 7 Flawednew ladies Black 3"High Heel Round Toe Mid-Calf Sexy Boot Size 8.5 , Naturalizer black suede boots buckles wide shaft 7 1/2 M LN fall school careerNine West Women's Counter Boot,Black Leather,10.5 M US , Montana West Fringe Collection Boots BST-035-CFBrown Fluevog Angel Ankle Boots 7Pull-on Shining Sequins Pointy Toe Women Ankle Boots Cloth Kitten Heel ShoesCobb Hill Womens Nicole Leather Bootie - Black Size US 6W NWOB , Teva Foxy Leather Ankle Boot Woman's Size 6 , NEW Womens KENNETH COLE Black Leather Jenny Boots 6 7 7.5 8 8.5 9 9.5 10 11 $99 , Women's New Leather Cowgirl Western Biker Boots Snip Brown Sale , L37 Spange Ballerinas Space Leather Rosa Cream 182037 , Womens Fly London Yadu Cupid Rug Ankle Strap Wedge Heel Summer SandalsGentle souls shoes Brielle size 7.5 NWB , NEW DANSKO WOMEN'S PROFESSIONAL SLIP-ON CLOG BLACK SCRIBBLE 42 12 MEDIUM $135 , Rocky 4EurSole Womens 5.5 6 36 Nursing Clog Shoes Marble Patent Leather Black , NIB $275 Tory Burch LUDLOW Kendrick Patent Croc Print Driving Driver Loafers , TOD'S Women's Leather Suede Loafers Moccasins Snakeskin Metal Buckle Heeled Sz 7MANOLO BLAHNIK Women's Shoes 38 7.5 Metallic Gold Leather Bow Pointed Toe Flats , Prada Navy Suede Pointy Toe Espadrilles Size 9.5Women Sequined Shoes Casual Shoes Sport Fashion Walking Swing Wedges Shoes SizeNIB BALENCIAGA Leather Loafer Espadrille Flat Shoe Multi Color 37 - 7Skechers BOBS From Womens B-Loved - Rise & Sparkle , NEW Sperry Top-Sider Women's Acklins Boot shoes Sz. 7 , Nike Air Max Run Lite 5 Running Women's Shoes Size 6 , Skechers Women’s Sz 10 Shoes Flex Air Cooled Memory Foam High Energy Lilac New , Women's Aetrex Women's Brianna Mary Jane FlatsWolverine Women's Xpedite A-Line SR Closed Back Clog Black Leather ClogsNike Air Max Sequent 3 Women's Violet Dust/Neutral Indigo/Obsidian 08993501NEW WOMENS HOKA ONE ONE BONDI 5 RUNNING SHOES - 7 / /3 - AUTHENTIC- $150

Korean style Round 3 On Color Women's Wedge Round Toe Platform Wedge Heels Pull On Ankle Boots 3c837a7 - digitalcraftmedia.com




Boots
1976467
5034486
5242388
6334496
7808724
16524901
17994719
18298669
18746827