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

$149 GUESS DAILIE SHORT DAILIE WESTERN BOOTIES SHORT BLACK LEATHER BOOTIES SIZE 6.5 fdb68b6
$149 GUESS DAILIE SHORT DAILIE WESTERN BOOTIES SHORT BLACK LEATHER BOOTIES SIZE 6.5 fdb68b6 - 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.


B MAKOWSKY Hark Khaki Brown Leather Boots Calf High Heels Womens Shoes Sz 10Franco Sarto ILENA Ankle Boots - Women's 12 - Suede - Gray - Slip-onHal Rubenstein Black Hair Calf & Suede Ankle Boot Bootie 9.5 W NEWLL BEAN Wo's 6M Burgundy Maroon Quilted Sherpa Lined Winter Duck Knee Boot , SANUK~STEVIE Sidewalk Surfers Boots Brown/Hot Pink Yoga mat US 7 /38 NIB , Ladies/Womes Beige Boots Stilettos/Shoes Size 5,6,7,8,9,10 , North Face 7 / 38 Boots Janey Black Suede Faux Fur Winter 200 g Insulated j52 , Enzo Angiolini Womens Franses Leather Open Toe Ankle Fashion, Black, Size 9.0 WYBrown Fabric Suede Like ZIP Up George Boots 8 1/2New Womens TSUBO Kemma Black Leather Ankle High Heel Fall Winter Boots Booties , Naturalizer Jango Leather Tall Riding Boot Straps Zip SADDLE TAN 7W NEW 573-386 , REBECCA SANVER Bottes Daim et Cuir Noir lanières Cuir T 36 TBE , ANDRE Bottes à Talons Daim bleu pétrole T 39 TTBE , New $149.00 LUCKY BRAND Black Leather Chunky Heel Double Zipper Moto Boots Sz 6 , WOMENS HARLEY DAVIDSON BLACK LEATHER BOOTS STOCKSIZE 5.5US 36EURPour La Victoire Black Suede Ankle Boots Shoes Size 6.5FREE POSTAGE NEW Nude Beige Nine West Suede Leather Boots 6 , Gorgeous 4" Platform White Velvet Faux Fur Platform Knee Boots Glam Club 6-14 , NIB - SAFE T STEP Women's 'WW BRENNA' Black BOOTS - 7 WRebels TRAVIS Brown Ankle Motorcycle Boot Women’s 6.5 M Studded Black Straps NEW , ZARA SHINY HIGH HEEL ANKLE BOOTS 39-41 REF. 7130/101 , Marc Fisher Black Suede Fringe Sade Ankle Boots NEW , NEW - Splendid 'Hamptyn" Almond Toe Bootie - 8.5 , Roper 'Emma' Floral Embroidered Western Ankle Boots, Women's Size:8.5 (R3)Barbara Bui Womens Shoes Size 37.5 7.5 Black Solid Suede Ankle Boots CasualWomen leather knee high square low heels ladies chaussure winter casual bootsRag & Bone Womens Shoes Size 36 6 Brown Textured Suede Leather Ankle BootsStuart Weitzman Brown Suede Criss Cross Front Hook & Loop Bootie Boot Size 8.5 , Regarde Le Ciel Brown Gray Leather Suede Platform Ankle Boot Heel Shoe 40 10


More Stories



Tags
Women's Rain Boots Lady Rubber Black Swirl Plaid Rain Boot , Brinley Co Women's Peeta Pump, Pink, 11 Regular USdennisa-3 Mid Calf Synthetic Zipper Low Heel Women's Casual Boots Cognac 5.5- , ShoeDazzle Whisper Women's Brown Lame Cuff Suede Boots Size 9 M , IKRUSH Womens Shia Studded Thigh High BootsSperry Top-Sider Saltwater Gray Wool/Navy Rubber Rain Boots Women’s Size 11 M , Lyric Culture Black Leather Jumpin Jack Flash Mod Ankle Boot 10 SALE , Adidas Easy Five Boot 'Black Silver' Leather Womens New (Size 7US) ultra air gelSexy Hollow Out Knee High Boots Womens Stiletto High Heel Roman Shoes Plus SizesRoper Women's Studded Western Boot, Black, 8.5 M US , Stuart Weitzman Mid Calf Tall Stacked Heel Zip Up Black Suede Boots 7.5M A++ , Born New Antonia Black Womens Shoes Size 11 M Boots MSRP $115XOXO Masterson Riding Boot, Women's Size 8.5 M Wide Calf, Tan , NIB G by Guess Women Gabryel Black/Gray Elegant Shoe Bootie sz 6.5 , Stegmann Woolfelt Polyflex Navy Womens Clogs Size 9.5MJCREW Gemma Canvas Ballet Flats $138 Shoes 7 neon flame pink f1164 NWOB brightSam Edelman Brina studded flats size 7SANDRO FLAT MULES WITH CHAIN DETAIL SIZE 39 Original PriceLanvin Paris Leather Ballet Flat Shoes Size 38 , Yosi Samra Women's Samara Ballet Flat Pewter Metallic Leather Flats , Nike high top shoes sneakers purple spray paint hologram Women Sz 6.5 , NEW Womens Asics Hyper Rocketgirl SP 4 Track Shoes White/Kiwi - Choose SizeChic Womens Glitter Sequins Diamante Bling bling Slip On Loafers Platform Shoes , adidas Womens Running Pure Amp Jacket - Choose SZ/Color , NIKE LAB G Series leather slip on flats gray metallic comfort walking hiking 7.5 , Women's SAS Roamer Chestnut Women's Shoes FlatsGladiator Womens Platform Punk Ankle Boots High Block Heels Sexy Nightclub ShoesWomens Sexy over the knee high Boots slim heels stocking stretch shoes Lady New , Sanita Women's Koi Dulce Clog Light Blue 42 M US , Nautilus Women's Steel Toe Static Dissipative Work Oxford

$149 GUESS DAILIE SHORT DAILIE WESTERN BOOTIES SHORT BLACK LEATHER BOOTIES SIZE 6.5 fdb68b6 - digitalcraftmedia.com




Boots
394694
5084586
6390328
12522538
14308516
14791409
14980315
18786813
18898687