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

Earth Origins Suede Tall Boots Black Suede Black Tall med 7.5 0ab989c
Earth Origins Suede Tall Boots Black Suede Black Tall med 7.5 0ab989c - 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.


Aldo Aldelima Leather High Heels Boots Size 38 , Alegria Leather Slip-on Sandals w/ Strap Detail - Venice Purple Gleam 38 (8-8.5)Dolce Vita Ankle Bootie Heel - Women's Size 8 BrownFree People Mystic Charms Boot Size 41 , SANDERS Brown Leather Cowboy Boots Womens Size 6 A Style 3022Women's Merrell Radius Mid Waterproof Leather Hiking Boots Walnut/Mist Green 7.5 , The Flexx Leather Peep Toe Sandals - Shoreline Saratoga Black Med 6JUST FAB PATENT LEATHER CHUNKY 4" HEEL BOOT WIDE CALF OR REGULAR CALF , Gorgeous Ladies sz 7 M Dan Post Cowboy Boots , Lucky Brand Gulvan Women's Boots BlackRockport M79339 Leather Riding Boots, Women's - Size 7.5, Black (Broken) , Naturalizer Brenna Ankle Boots - Women's Size 8.5 M, BlackEd Hardy Knee High Black Suede Embellished Foldover Boots Sz 7 , Brand New Steven Madden Brown Gaige Boots Size 6! , Enzy Size 9 Zigisoho Knee high mid calf zip up faux leather heel boots(WORN ONCE , Donald J Pliner Womens Brown Suede Dax Fashion Boots Shoe Size 5 M New!EUC Vintage Leather Red Cap Toe White Stitching Cowboy Boots Size 5 Acme KidsHi-Tec Bandera Mid WP Womens Boots Size 7 , Chocolat Blu- Brown Leather Calf High Zip-up Buckel & Rivet Detail Boots 8 USRefresh Megen-03 Black Zip Knee High Boots Size 8WOMENS DAN POST CHOCOLATE BUFFALO WELLINGTON COWBOY BOOTS DP853 SIZE 7.5B , Lucky Brand Brolley Iron Gray Suede Ankle Boots Excellent With Box Size 6 M , MEN'S MERRELL PERFORMANCE BLACK BOOT NEW, SIZE 9.5 , GUESS CORRIE TAUPE SUEDE,LEATHER,KNEE-HIGH,HEELS WOMEN'S BOOTS-SIZE 6.5Isaac Mizrahi Live! Quilted Tall Shaft Riding Boots ARA2 PICK SIZE & COLOR NW , Merrell Water Resistant Leather Slip-On Shoes - Emma Leather Brown 9.5 , The Flexx Leather Peep Toe Sandals - Shoreline Saratoga Cognac Med 7.5 , NIB Free People/Faryl Robin Pearson Black Vegan Patent Menswear Shoe-Size 9 , Lucky Brand Womens 8.5 HANNIE Pump BLACK BRIDGETOWN Side Zip Grommet Moto Boot ,


More Stories



Tags
WOMEN'S ANA BRADLEY 2 SIDED ZIP UP BOOTS BLACK SIZE 6 NEW IN BOX MSRP$ 100.00PUMA womans used size 9 Shoes , G by GUESS Women's Boots Size 81/2 M Herly Wide Calf Riding Black Zipper , NEW TOETOS PITTS-06 TAUPE BLOCK HEEL SIDE ZIP ANKLE BOOTS SIZE 7Red White Knee High Chunky Heel Boot Wonder Womens Cosplay Super Girl CostumeShoes of Soul Womens Red Buckle Bootie Size 6 , Material Girl Womens Minah Closed Toe Ankle Fashion Boots, BLACK, Size 10.0 7Ij6 , Very Volatile Womens nate Fabric Almond Toe Over Knee, Light Brown, Size 6.0 5rb , Bandolino Bacia Wide Calf Tassel Dress Boots 081, Medium Grey, 7 US , NEW ZODIAC PRINCESS TAUPE SHEARLING CUFF TALL BOOTS SZ 6 M , Sexy Double Fringe Peep Toe Platform Stiletto Knee High Boots Shoes Adult WomenCipriata 'Sabrina' Ladies Suede Twin Gusset Chelsea Boots Womens Ankle Boot , BZ640 CINZIA SOFT shoes brown textile women ballet flatsDANSKO Poland Vtg Brown Suede Madrigal Ankle-strap Clog 37 - US 6.5 to 7Lacoste Women Flats Oxfords Marice 117 4 Caw Fashion Sneakers Lite Grey , Naughty Monkey Women's Miss M Ankle Bootie Western Wine Size 8M NWB , Zee Alexis Womens Monica Ankle Boots Olive 7 M , Shellys London jack platgorm oxford sneakers size 8.5 , Vince Camuto ELLEN Bumble Yellow Ballet Flats 8410 Woman's Size 7 M NEW!Fitflop Slip On Foot Strap Platform Shoes Navy Women Sz 42GH Bass & Co Weejuns Women’s Sz 8.5m Thick Leather Loafer Slip On ShoePW Minor Pleasure II Black - Women's Casual Therapeutic Shoe - All Colors - AllSESTO MEUCCI Vtg Genuine Crocodile Allegator Brown Penny Loafers Flat 6 M ItalyDr SCHOLL'S WOMEN'S ATHLETIC SNEAKERS s 6.5 Genuine Leather FRIDA BLACK , Asics Women's Hyper-Rocketgirl 7 Track Spikes Shoes Sz. 9 NEW G553Y2970 , Dr. Comfort Womens KELLY Diabetic Slide Orthotic Slipper 9W, Black , adidas Edge Lux Clima Women's Grey Two/Grey Ywo/White CG4778 , PUMA Womens Vega SL Ballet Flat- Pick SZ/Color.Animals Leopard Lady Women Sport Comfy Mesh Smart Sneakers Casual Running Shoes , adidas Originals B37983 Womens N-5923 W Sneaker- Choose SZ/Color. ,

Earth Origins Suede Tall Boots Black Suede Black Tall med 7.5 0ab989c - digitalcraftmedia.com




Boots
4827146
7686499
9479448
10584570
10960790
11015455
13250873
13269026
15614239