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

Pink Round Toe Winter Fashion Boots 37 Flat 27383 Waterproof Mid-Calf Flat Shoes for Women- 37 df2d7ea
Pink Round Toe Winter Fashion Boots 37 Flat 27383 Waterproof Mid-Calf Flat Shoes for Women- 37 df2d7ea - 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.


Yellow & Navy Rubber Rain Boots Size 7Indigo Rd. Womens Gerald2 Closed Toe Mid-Calf Fashion, Black Fabric, Size 8.0U.S. Polo Assn..Women's Women's Valley Fashion Boot Black 7.5 M USMid Calf Grey Boot Size 6.5 AU Sexy Winter Faux Leather Round Toe Buckle Shoes , XOXO Womens Annabella Ankle Bootie- Pick SZ/Color.Women Fashion Black Warm Winter Snow Ankle Boots Waterproof Non-slip Shoes- 7.5INC International Concepts Womens Herbii Closed Toe Ankle Caramel Size 6.0 bVnBrown Faux Leather Ladies Boot Size 7 AU Sexy Winter Round Toe Ankle High Heel , Bare Traps Womens danula Almond Toe Ankle Cold Weather Boots Taupe Size 6.0 b4MS2910 Black Ladies Short Ankle Rain Boots 9DailyShoes Women's Western Cowboy Bootie - Ultra Comfortable Chayo-01 Black S...Circus by Sam Edelman Jadyn Ankle Boot Black White Zig zag Animal Print Sz 9.5 MAmerican Living Womens KALLEE Leather Round Toe Ankle Cowboy Blk/Blk Size 6.5Nine West Womens Thomasina Leather Round Toe Ankle Fashion Black Size 5.5 8DMOWHITE MOUNTAIN Randall Women's Bootie Tobacco Size 9.5 7G7pBrinley Co Women's Tisha Ankle Boot, Taupe, Size 7.5 DS5p , Dizzy Womens P-Picabow Rubber Almond Toe Ankle Rainboots Black Size 6.0 mLXCJournee Collection Womens Pixie Peep Toe Ankle Fashion Boots Nude Size 5.5 , BESTON FM37 Women's Stretchy Snug Fit Thigh High Side Zipper Block Heel Boots...Joules Womens FieldWelly Rubber Closed Toe Mid-Calf Rainboots Grey Size 4.0 Q2 , RIVER LADIES LEATHER SHORT BOOTS SIZE 7.5 , Blowfish Womens dundee Closed Toe Knee High Fashion Boots Black Size 10.0 hPLr , Fashion Red Warm Winter Snow Ankle Boots Waterproof Non-slip Shoes for Women-7.5 , Forever Women's Buckle Strap Block Heel Ankle Booties Tan 8.5Fashion Blue Warm Winter Snow Ankle Boots Waterproof Non-slip Shoes for Women- 9 , Bare Traps Womens danula Almond Toe Ankle Cold Weather Boots Black Size 8.0 b0Cape Robbin Benny Smoke Open Toe Block Chunky Clear Perspex Heel Ankle BootieIndigo Rd. Womens finn Fabric Open Toe Ankle Fashion Boots, New Sattel, Size 7.5 , Aerosoles Womens double trouble 2 Closed Toe Ankle Fashion Tan Suede Size 6.5 ,


More Stories



Tags
Steven by Steve Madden Women's Pointed Toe Stilleto Heels Mid-Calf Boots US 6 M , XOXO Womens mauricia Closed Toe Knee High Fashion Boots , Ariat Canyon Ankle Boot Women size 10 BrownRachel Roy Kadirah Platform Ankle Strap Bootie Black / Silver Women's 6 M USBlack/Seethrough 6" High Block Heel 2" Platform Sexy Ankle Boots Size 10Womens Black 1.5" Low Wedge Heel Round Toe Over The Knee Sexy Boot Size 6Red Round Toe Comfortable Winter Mid-Calf Boot Fur On Top/Inside Size 7NEW LADIES Denim Blue Rip 5.5" Stiletto High Heel Over Knee Sexy Boots Size 8.5Privileged Queda Black Patent / Matt Pointed Toe Fur Pom Pom Gold zipper BootiesPRE-Owned Aerosoles Cingle Handed Women Black Bootie 7.5M , BLACK OR RED PATENT LEATHER BALLET PUMPS SIZE 6-16 HEELS-8,5"- PRODUCER- POLANDSporto Women's Boots Round Toe Leather Black Snow Boot Daphne Boot 6MARIAT 13397 LIZARD MOC LEATHER COWBOY WESTERN CLOGS MULES BOOTS WOMEN'S 6.5 B , Vintage Dan Post Golden Spur Western Boots Neolite Heel Red Lizard Size 6 Cowboy , Stuart Weitzman Slip-ons, Womems Size 6.5 , Naot Kirei Mary Jane Flats Metal Grey Pewter Womens Shoes Size US 7 , � Golden Goose Women's Superstar Low Top Sneakers G32WS590 D91 - Authentic , Salvatore Ferragamo Red Patent Leather Ballet Flats Shoes Size 8 1/2SAS WOMEN'S FREE TIME WOMEN'S 9 WW BEIGE IN GOOD CONDITION , CREEPER-214 3" GOTH PUNK ROCK CASUAL T-STRAP MARY JANE CREEPER PLATFORM BOOT , FLEXUS PRIDE-NN - PRIDE Size: - Color: , Rebecca Minkoff Women's Sneakers Becky Embellished Black Velvet 8 NWT $150 , TOD'S WOMEN'S BLACK RIBBED SUEDE LEATHER SLIP ON BUCKLE LOAFERS FLAT MOC SHOES 7 , Bed Stu Darla Women's Black Driftwood Loafer 11MNew Balance 680V4 Sneaker Womens Shoes Mid Heel , New Reebok Womens Print Smooth 2.0 Ultk Pink Running Shoes Size 7NEW Roper Rockstar Square Toe Ankle Boots Brown Womens size 5.5WOMENS SHOE BOX BLACK SUEDE CINCHED ALMOST KNEE-HIGH BOOTS SIZE 37 , Sanita Striped Colorful Rainbow Red Clogs Nursing Shoes Womens Size 41US:6 adidas Originals Women's SAMBA W SNEAKERS RUNS 1/2 SZ BIG FITS LIKE 6.5

Pink Round Toe Winter Fashion Boots 37 Flat 27383 Waterproof Mid-Calf Flat Shoes for Women- 37 df2d7ea - digitalcraftmedia.com




Boots
398510
4305921
5495133
6411660
8821088
9000618
17198702
17587354
18399937