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

Karl Lagerfeld Mirla Ankle Boots Brown Leather Karl Women’s 9 ❤️ Leather M - Luv ❤️ 6104ea0
Karl Lagerfeld Mirla Ankle Boots Brown Leather Karl Women’s 9 ❤️ Leather M - Luv ❤️ 6104ea0 - 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.


MATISSE Womens 8 Medium Brown Leather Tapestry Western Cowboy Boots Riding , VTG WOMENS OLD WEST COWBOY LEATHER BROWN BOOTS SIZE 8.5 , Sperry Top-Sider Women's Size 6 Gosling Navy Waterproof Rubber Boots NEWCarlos by Carlos Santana Women's Rodeo Clogs Leather Western Brown Size 6.5 , Enzo Angiolini EASAYLEM Black Leather Side Zip Tall Riding Boots Size 7.5M , Elizabeth & James Heel Booties size 10Womens A2 by Aerosoles ankle boots - size 6M - Ground RoleVTG WOMENS TONY LAMA COWBOY LEATHER IVORY BOOTS SIZE 5.5 B , Snowland Sherpa Lined Faux Fur Patchwork Boots Womens Size 7 Snow Vintage , Dr. Marten's Men's Brown Leather Loafer Slip On Shoes 2B18 - US 6 () , VTG WOMENS UNBRANDED COWBOY LEATHER SUEDE BROWN BOOTS SIZE 10 NDEXTER WOMEN'S BROWN LEATHER-RUBBER / WATERPROOF DUCK / BOOT / SHOE SIZE 7 , Gianni Bini Women's Brown Leather Textured Buckle Riding Boots Sz 8.5Nice~ ENZO ANGIOLINI Zayra Black Leather Riding Boot Women's 7 M - Inside Zip02-164 Women's David Tate Bolero Riding boots size 5.502-162 Women's David Tate Bolero Riding Boots size 5.5Naya Wyoming Ankle Boot - Women's Size 7.5 M, BlackNew Womens Jaclyn Smith Erica Riding Boot Style 30616 Black 403A-C dr , Keen Warm Dry waterproof insulated Leather Slip-on Mocs Shoes Womens Size 9.5 , $79 New Chinese Laundry Wiz Size 8.5 M Gray Heels Women's Bootie Boots , Ultra Mid Calf Brown Leather Cowgirl Boots SZ 7 MKeen Boots Ankle US Brown Suede Knit Cuff Pull On Walking Rubber Sole Womens 9.5 , NEW! Covington Women's Jennifer Boots Chocolate , Tommy Hilfiger Leather Womens 7 Boots Mid Calf Moto Chunky Cleated BrownSTEVE MADDEN BLACK SUEDE LEATHER MID CALF WOMENS BOOT 7 1/2 FLAT HEELXhilaration Black Wedge Heel Faux Suede Tie Buckle Zip Ankle Boots Size 10 , Skechers Mad Dash Tan Womens Boots Size 6 NEW , NEW! Roxy Women's Tomahawk Fall/Winter Boots Black 177G z , Lavorazione Artigiana Brown Leather Women's Boots Sz 37.5 US 7 Donna Carolina ,


More Stories



Tags
Sexy Canvas ankle high stiletto boot size 7.5 , EMU AUSTRALIA "STINGER" Women's Sz 5M Brn. Suede Boots W/Sheepskin Fleece Lining , MINNETONKA Women’s 6.5 Tall Slouch Moccasin Fringe Boots EUC , SMOKY MOUNTAINS Cowboy LeatherBrown Young Woman SIZE 4 D Boots Shoes , Jessica Simpson Womens Deonne Brown Suede Booties Shoes 7 Medium (B,M) BHFO 2189 , Bare Traps Tommy Tan Brown Buckle Detail Riding Boot New , Ryka Red Wine Suede Water Resistant Tangent Faux Fur Boot NEW , Bare Traps Womens Sesame Closed Toe Ankle Fashion Boots Dark Brown Size 10.0 QBearpaw Hickory Fur Lined Womens Winter Boots Size 9Blowfish Frappe Birch Womens Side Zip Ankle BootsNancy Li By Summer Rio BF5001 Black Suede Casual Hidden Wedge Ankle BootieSARTORE Tan Western Studded Women Boots , CODE WEST Sz 7.5 M Black Leather Lizard Skin Inlay Cowboy Boots Shoes For WomenGUESS High Top Faux Fur Trimmed Shoe Shoes Suede Booties Boot Boots Ankle 6.5BC Union Booties - Women's Size 6, Olive/Gold ExoticEarthies Clare - Women's Ballet Flat Spicy Red - 7 MediumWomen's Paul Green Leo Suede Espadrilles Shoes Size 5 /US 6.5VANELI DONAT SNEAKERS WOMEN'S US SIZE 9.5 M PADDED , Lanvin Women's Orange Ballerina Patent Leather Elastic Ballet Flats Size 39New!! MIU MIU Patent Leather Suede Strappy Sandals Size 7.5 $675-(P31)FRYE Women's Sienna Buckle Ballet Flat Dark Taupe Suede 9 M US , Cole Haan Women's GrandEvOlution Shortwing Oxford - Choose SZ/Color , NEW HALSTON HERITAGE WOMENS TAYE METALLIC MULE - BRONZENew Balance Women's WW669V1 Walking Shoe - Choose SZ/Color , Puma Ikaz Mid Sneaker Ladies Shoes High Trainers Leather Casual shoes NEW , Superga S007AU0_2095_032_FUXIA sneaker Women's - colour Pink US , Women's Reebok Classic White Casual Cool Walking Sneakers Sz. 37.5/7 MINT! , Women's tory burch shoes 6 new FlatsNew Mia SNOWSTORM Women's Black Suede Boots Faux Shearling 8.5 & 10 MSRP $80 NIB , HeartSoul Women's Zone Clog Multi Heart/White/Red Synthetic Clogs

Karl Lagerfeld Mirla Ankle Boots Brown Leather Karl Women’s 9 ❤️ Leather M - Luv ❤️ 6104ea0 - digitalcraftmedia.com




Boots
96306
413451
2384348
5823633
8443736
8750781
11764132
13368720
18529962