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

Nike 53 air max zero womens womens zero size 9 brand new cdca21a
Nike 53 air max zero womens womens zero size 9 brand new cdca21a - 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.


Reebok Sublite Train 4.0 Womens Running Shoes Fitness Gym Trainers Shop Soiled B , Ralph Lauren Polo Tennis Shoes Casual Pink & Orange Sneakers Women's Size 5.5 USFreebird By Steven 927 Casual Shoes - Women's Size 7 M, Rose GoldNew Balance WW496KM3 Athletic Shoes - Women's Size 6.5 B, Charcoal/PinkSteve Madden Gopi Sneaker - Women's Size 6.5 - Black/White , Ryka Devotion Walking Shoe - Women's Size 7.5M, Grey/Pink , New Balance WW877SB Sneakers-Women's size 10 D GreyRebels Size 7.5 M Cash Grey Snake High Top Sneakers New Womens Shoes , Vans Sk8 Hi Reissue 'Bandana Stitch' Black White New (US10 Womens) Max Skate Air , New Women's Dr Scholl's Freedom Walking Athletic Shoes Size 6 Wide Black W32New Balance LD5000v3 Track Spike Shoes, Women's Size 11.5 B, Orange/Yellow , Dr. Scholl's Anna Sneaker - Women's Size 6.5M, Grey/Aqua , New Balance Women's 501 Ripple Sole Shoes Blue with GreyWomens Nike Air Max Siren Print 749511-400 Soar/Deep Royal Blue New Size 6.5 , ASICS GT-2000 5 Running Shoes - Women's Size 8.5 - Pink Glow/White/Dark PurpleNew New Balance Womens Pink Tennis Shoes Size 6 , Propet TravelActiv Woven Sneakers-Women's size 7.5(2E) MidnightSkechers Women's BOBS Sport Squad Tough Talk Sneaker , Hot New Custom Werewolf Sneakers Classic High Top Women's Canvas Shoes Authentic , Propet Women's Tour Walker II StrapVans SK8 Hi MTE Sneaker Boot Suede Purple Parisian Hiking Skate Shoe Women's 5 , New Vans Sk8 Hi MTE Women Size 5 Tan Denim Leather Suede Coriander Hiking Shoe , ASICS Womens Fuzex Tr Black/White/Silver Running Shoes Size 8.5 (344621) , WOMEN'S FILA EXODUS COOL MAX ® COLOR:DARK SHADOW/GREEN/PURPLE , Merrell Womens Size 8.5 Trail Hiking Sandal Shoe , Asics Aaron SYN sneaker shoes trainers sneakers casualHot New Custom Wolf Sneakers Classic High Top Women's Canvas Shoes Authentic!!New Balance Women's Size 7.5 WLZANTDB Zante Peach Athletic Shoes ZU-548 , ASICS GEL-Cumulus 18 Running Shoes, Women's - Size 8.5, Blue/Yellow


More Stories



Tags
New Maurices Womens Sheryl Gray Suede Classic Slouch Knee High Riding Boots Sz 65 M Ladies Womens Franco Fortini Leigh Boots Brown Ankle Zip Leather Buckle HighJosef Seibel Bridgit 66192 Brown Leather Zipper Bootie Ankle Boots Sz 9.5 / 41 , WOMENS WELLIES WELLINGTON RAIN KNEE HIGH LADIES WELLY BOOTS SHOES SIZE , Seychelles Women's Black Suede Zip Slanted Roper Heel Ankle Boots Size 7.5BX756 J. K. ACID shoes black leather women ankle boots , $199 BCBG BCBGMAXAZRIA Womens Aubrey High Heel Bootie Shoe, Charcoal Sde, US 10 , L Women Peep Toe Side Zipper Ankle Boots Sandals Stilettos High Heel Party ShoesGabriella Rocha Women's Black Leather Suede Ramsie Zip Boots Size 8.5Clarks Artisan Womens GTX Mid Gore Tex Boots Sz 7.5 Buckle Zip Strap Hiking , Marc Fisher Women's Alright Ankle Black Boots Size 10M , Koolaburra Grey Leather/Shearling Boots size Euro 38 - US 7Antonio Melani Size 9 M HARDINE Brown Leather Ankle Boots New Womens Shoes , Women's Enzo Anciolini Sayin Gray Leather Tall High Boots Size 7 M , $160 size 9.5 Kelsi Dagger Brooklyn Huron Boots Black Leather Heels Ankle shoes , Franco Sarto Dalton2 Flat Slip-On Mules, CoccoB.Makowsky Hudson MINT! gray leather ankle boots, removable harness 8M, 2-stylesWomen's Shoes Mimmu Black Leather Shiny Slip On Italian Oxfords Size 41 EUNew JCREW Gemma Cap Toe Flats G0878 $118 Pale Petal Pink 8 NEW , Prada Blue, White & Silver Brocade Flats With BowNEW Dansko Women's Martina Stone Gray grey So Comfy Mule 38 7.5 8 $155 SALE!! , GREEN BAY PACKERS ~ Women's White CANVAS TENNIS SHOES ~ Size 9 ~ EUCNew Balance 1064 Running Shoes Women's Walking Cross Train Multi-Color Sz 10 B , New J. CREW Red Suede Ankle-Strap D'Orsay Flats Sz7 Made in ItalyDr. Scholl's Women's Madison Fashion Sneaker , Skechers for Work Women's 76510 Compulsions Indulgent ShoeNew Balance NBGW1006GRP Womens nbgw1006 Golf Shoe D US- Choose SZ/Color. , Fitflop F Sporty Mirror Toe Sneaker Womens White Leather Trainers Size 4-8 , New Puma 189528-06 Speed 600 Ignite 2 Black Women's Running Shoes 9 USSaucony Women's Koa ST Running-Shoes - Choose SZ/Color ,

Nike 53 air max zero womens womens zero size 9 brand new cdca21a - digitalcraftmedia.com




Athletic Shoes
219935
2384617
2689179
3944092
4931808
5353963
5881349
7890192
18193268