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

Jeffrey Campbell Womens Black Cienega Boots Over The Knee localjoes-27793 Boots Taupe Black Size 5.5 New cc9bb6e
Jeffrey Campbell Womens Black Cienega Boots Over The Knee localjoes-27793 Boots Taupe Black Size 5.5 New cc9bb6e - 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.


TEVA AFTON WOMEN BOOTS LEATHER BROWN US 6Diba Womens West Lake Distressed Stacked Heel Casual Ankle Boots Shoes BHFO 3257Marc Fisher Taite Saddle Brown Leather Riding Boots NEWWomen's Harley Davidson Abriana Boots Black Leather D83534 Genuine Leather NewNew Womens Ahnu Himalaya Cocoa Chocolate Brown Waterproof Suede Faux Ankle Boots , Delman Womens Fleet Knee High Fashion Boot Shoes, Black Calf, US 8New Franco Sarto Brandy Leather Black Boots Size: 8.5M467774L Ladies Ovation Blizzard Winter Boots NEW , Ralph Lauren Sarilla Over the Knee Boots Leather & Fabric Size 11Guess Irris Oxford Women's Leather Booties Sizes 6.5M NewH by Halston Black Ruched Suede Sarah Heel Boot 5 NEW , Anthropologie Kelsi Dagger Brown Peep Toe Perforated Bootie 6.5 Portobello NIBTommy Hilfiger Womens Arcadia2 Taupe Snow Boots Shoes 7 Medium (B,M) BHFO 5831Lucky Brand Gwenore Tan Suede Tie Zip Booties Boots Ankle Shoes Womens Size 10Bottes REQINS Cuir Noir façon Python T 37 TRES BON ETATMarc Fisher Brown Leather Novice Peep-toe Ankle Bootie NEW , Womens Basic Booties Ankle Boots Pointed Toe Stiletto Slim Heel Suede Sexy Chic , Women's Stretch Faux Suede Over The Knee Boots Flat Thigh Plus Size 34-43 Shoes , Dr. Martens Women's Vegan Castel Gunmetal Fashion 8 Eye Boots 22765029Ladies Boulet Sz9.5C Black Torino Calf Leather Western Boots New In Box!!Brian Atwood Fragola Patent Leather Ankle Boots Booties Heels Shoes Size 7.5 , Steve Madden Womens 'Reggiee' Knee-High Boot , Laredo women's Western Boots Black 12" W/CHOC Olay 80170 size 6 NEWZARA NEW AW17 FAUX SUEDE NAVY BLUE ZIPPED FLAT OVER-THE-KNEE BOOTS REF. 6022/201Women's sz 10 B JUSTIN Black Exotic Western Cowboy Boots L 2660 - NICEZARA NEW WOMAN CUT-OUT ANKLE BOOTS HIGH-HEEL BLACK 35-42 REF.7142/301 , Authentic CHRISTIAN DIOR Black Lambskin Leather Ankle Boots Booties 37.5 ITALYNIB MAXMARA Black Leather Tall ROSA Boots Sz 39.5 80623 , Isola Shoes Size 6.5 M Womens New Odin 6406023 Ash Grey Suede Ankle Boots NWB ,


More Stories



Tags
Adrienne Vittadini Nanni Brown Womens Shoes Size 7 M Boots MSRP $129Sporto Ellie Grey Suede Quilted Waterproof Snow Midcalf Boots 9.5 Sale , Laredo Black Leather Roper Cowboy Western Boots Women Size 5.5 M Style 22741 USA , Nine West Womens Ballico Suede Ankle Bootie- Pick SZ/Color. , ECCO Women's Black Ankle Boots Women's European Size 41 / US 10 - 10.5Bandolino “lnput” Women's Boots size 7 M Black Patent & Suede Leather KneeHi ❤️madden girl Koorset Peep Toe Tassel Ankle Boots 167, Black, 5.5 US / 35.5 EU , Frye MISMATCH Womens 7 6.5 B Melissa Button NEW $367 Leather Riding Boots ffJack Rogers Chloe Classic Rain Boots , Olive , American Rag Womens ADA Closed Toe Knee High Fashion Boots, Black, Size 7.0Vince Camuto New Men British Tan Sergio Boots / Shoes , Women's Hi--Tec Skamania Waterproof Grey Violet Hiking Boots, Size 9.5 WD , LADIES SHOES/FOOTWEAR - Naot Primrose black shoe , Callisto Pringle Espadrille Bow Tie Flats, White, 9 USNIB MUI MUI Oxford Shoe with Crystals Heel AUTH , NIB $595+ ALEXANDER WANG Ingrid Croc Effect Leather Brogues Ivory Malt Shoe 6.5 , AV114 FENDI shoes blue patent leather women ballet flatsFRYE Dylan Slip-On Fashion Sneakers Size 9 Womens Vintage Ash Leather NewWomen's Fashion Breathable Sneakers Casual Athletic Running Walking Sports Shoes , Skechers Womens Empire - Spring GlowPRADA Flats Logo Cap Toe Red Patent Leather Women 39 / 9Womens Nike Air Huarache Run Ultra DB 898634-700 Brand NewVolt Size 7 , Brand New Altra Women's Paradigm 1.5 Running Shoe U.S. size 6.5 w MintNew Womens Reebok ROYAL COMPLETE 2LCS WHITE / RED CN7428 UNISEX SIZE TAKSERose Lady Women Sport Shoes Sneakers Casual Ultralight Walking Running Shoes , Fashion Womens Hidden Wedge Heels High Top Loafers Casual Spring Sneakers Shoes , Women's NEW DOCKSTEPS WOMENS LOAFER Flats , Women's Brown Knee High Boots 8 Boots , Hot Sale New Womens Shoes Warm Winter Slip On Pleated Pu Leather Knee High Boots , Spring Step Women's Teomina Wedge Slingback Black Leather Slingbacks ,

Jeffrey Campbell Womens Black Cienega Boots Over The Knee localjoes-27793 Boots Taupe Black Size 5.5 New cc9bb6e - digitalcraftmedia.com




Boots
160936
5859472
8022039
10807161
13081234
14474390
14882585
18457099
18688317