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

Franco Sarto Womens Shoes Ankle Size localjoes-27116 Size 7.5 Brown Solid Man Made Ankle Boots 73ed971
Franco Sarto Womens Shoes Ankle Size localjoes-27116 Size 7.5 Brown Solid Man Made Ankle Boots 73ed971 - 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.


Nine West Solset Womens Shoes Size 8.5 Dark Brown Leather Ankle Boots Casual , Blowfish Malibu Tall Black Leather Side Zip Women's Boots Sz 6 motorcycle Boots , Bearpaw Womens Shoes Size 6 Brown Solid Suede Sheepskin Wedge Booties , Zara leather suede fur lined ankle boots/booties-navy blue-sz 6.5- Excellent UC , NICKELS WOMEN'S BEIGE/TAN NICE BAD WEATHER BOOTS SZ EST 6.5* IN VERY GOOD+ COND. , 'OTOT' Knee High fashion Boots womens size 7 M Tan genuine Leather glove soft , Black Leather Mid-Calf Pull up Boots Square Toe Block Heel 9.5 M NaturalizerPADORA BY CHARLES BY CHARLES DAVID CB207-K4 ANKLE BOOT BLACK 6 Mnew Womens black glittery 4"Block High Heel Over Knee slouch Sexy Boots Size 8NIB Very Volatile Yorker Booties Sz 8.5 Size New Womens Shoes Stone Boots , Bare Traps Womens lainey Suede Almond Toe Ankle Cold Weather, Black, Size 7.5 g6 , NEW Henry Fererra CLARITY Black Plaid Waterproof Rubber Ankle Rain Snow Boots 9 , Northside Women's Carrington Snow Boot, Dark Brown, Size 10.0 kppLWomens Ladies New Fashion PU Rabbit Fur Pearls High Heel Ankle Boots Shoes RainbBCBG Generation Crest Black Leather Zip Up High Heel Ankle Boots Womens 7B 37.5New Women's Knee High Boot Navy Blue Shoes Fur Lined Winter Snow Ladies size 8 , JUSTIN Roper Boots Size 6.5 B Women'sFergalicious Womens Caroline Closed Toe Ankle Fashion BootsMaterial Girl Shoes Size 8.5 M Womens New Mamiee Black Fashion Boots , Sporto Mimi Black Synthetic Mid-Calf Boots Women Size 10 M NewFranco Sarto Limber Womens Shoes Size 9.5 Brown Suede Ankle Boots Booties , Betsey Johnson Mayson Boot Size 7.5 Gray Distresses Ankle Shoe Leather Heels , Dolce Vita Womens Shoes Size 7 Black Solid Suede Wedge Booties CasualLeather Suede Shoes Boots Women Size Eur 37, Size 7, Length 24,5-25 Cm , NEW Ladies RED 5"Stiletto High Heel Pointy Toe Ankle Sexy Boots Size 8.5 , HELLY HANSEN Womens 6" Bergen Waterproof Steel Toe Composite Plate Work Boot 8.5 , La Canadienne Womens Boots Leather Size 4 M Black BrownIsaac Mizrahi Womens Shoes Size 8 Black Solid Knee High Boots CasualNIB Rampage Black Boots Faux Suede 7.5 ,


More Stories



Tags
Tony Lama Womens Boots *See Description for Details* , Michael Antonio Hadiya (Whiskey) Women's Dress Pull-on Boots - US 8.5 , Isaac Mizrahi Live! Gored Leather Mid Shaft BootsIsaac Mizrahi Leather Ankle Boots Buckle Detail TINKER PICK SIZE & COLOR NWPuma Maddalena Womens Boots Gore-Tex Brown Leather 301747 03 D106Women's Blue Lizrard Skin Cowboy BootsFranco Sarto Womens Heathrow Gray Ankle Boots Shoes Size 6.5 Medium , Clarks Coll Shore Black Leather US Womens Size 10 M Ankle BootsCOLE HAAN WESTERN LEATHER STUDDED MULE WOMEN SIZE US 7B HOT VINTAGE BRAZIL , MARC JACOBS - Ankle Charms Sandals Womens Shoes sz 40 / 10 USED , VINCE - ROBIN SNAKESKIN LEATHER ESPADRILLE FLAT SZ 11 RETAIL $225 , NEW $128 Anthropologie Embroidered Bow Ballet Flats Size 6.5 Black , Gentle Souls GS02020EB Womens Brynn Mary Jane Flat- Choose SZ/Color. , Joshua Saunders Mesh Bow Black Slip-on Sneaker Size 40 , Fashion Womens Rhinestones Strap Flats Mules Thongs Leather Detachable ShoesDolce & Gabbana Women Orange Leather Cork Crystal Shoes Sz EU39/US8.5Stuart Weitzman Studsalot Embellished Suede Loafers,Brown,US size 9.5 mediumNew Balance Womens W630lp5 Dragonfly/Icarus Running Shoes Size 7.5 (366397) , New Nike Revolution 2 Watermelon Athletic Shoes- Size 8 , BRUNO MAGLI Burgundy 100% Suede 'Corduroy' Embossed Loafers- 9AA - MINT - w/BoxWomen Fashion Real Mink Fur Sequins Slip On Flat Casual Loafers Shoes Size , New Naot 41 US 10 Bordeaux Leather Mary Jane ShoesSesto Meucci Women's Stina White / Black Patent Fashion Flats Size 6.5 M , David Tate Women's Nadine Perforated Espadrille, Black Calf, Size 9.0Nike 749180-004 Womens Core Motion TR 2 Mesh Cross Training Shoe Sneaker , Suede Creeper Star White Black Women Men Casual Shoes,Ladies Rihanna shoesUnder Armour Women's Street Precision Sport Low Sneakers in Gray Size 7.5 M US , Women's Saucony Escape Trail Grey Tea Citron Running Shoes US Size 7Women's High Boots BootsWomen's Rampage Ashlee Leather Faux Fur Boots Beige Size 8 M

Franco Sarto Womens Shoes Ankle Size localjoes-27116 Size 7.5 Brown Solid Man Made Ankle Boots 73ed971 - digitalcraftmedia.com




Boots
3916058
7351287
9224879
9264938
9449385
10242365
11137507
13470922
16975247