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

Dansko Black localjoes-22658 Leather Black Women Slip On Shoes Size 22665 US 10.5-11 733d3a5
Dansko Black localjoes-22658 Leather Black Women Slip On Shoes Size 22665 US 10.5-11 733d3a5 - 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.


dansko 38 mary jane womens shoes , Hospital Women's Leather Fur Lined Wram Nurse Work Boots Nursing Shoes US4.5-9.5 , Dolce & Gabbana sneakers, unisex, burgundy color, size 40NEW Reebok Women’s Club C 85 Leather/Suede Retro Shoes Sneakers Pink White Green , Sanita Professional PU Womens Clogs Womens Shoes workshoes shoes antislip - NEWDr. Brinkmann 320555 Mules Women Scuffs & Mules shoes slippers applications NEW , Helle Comfort Ela Black Womens Slip on SandalsNurse Mates Libby Clogs - Women's Size 11 W, White , Womens Flats Leather Skidproof Nursing Shoes Hospital Nurse Footware Work ShoesMBT Womens Kipimo Mules Size 8 Brown Suede Floral Cut Outs Comfort Slip On Clogswomens loafers slip on low heel casual elastic cord round toe shoes popular new , Women's Dr Scholls The Original Wooden Black Sandals Slides Mules Size 7 M 37Iron Age Womens Black Leather & Nylon Walking Work Steel Toe Shoes Size 7.5 NEW , Women Steel Toe High Top Antislip Anti Puncture Working Safety Winter Warm BootsEasy Works By Easy Street Appreciate Slip On Work Shoes Leather Womens ClogsDunlop Women casual shoes, BEAGLE Art of travel: AT535, Made in Japan, Slip on , Alegria Black Dream Fit Leather and Neoprene Slip-ons - Dena Delicut SZ 7 , Aravon Hillary Rockport Mary Jane Black Shoes Womens 9.5 D Wide Wedge , Red Wings Women's Shoes WHITE Nursing 7B USA Made , RED WING Leather Steel Toe Loafers Women’s Sz 6.5 B Non Slip Work Shoes $110Cape Clogs Women's Black, Multicolor Flower Power Clogs ~Size 40/(US)9 ~ NWOTSanita Womens Tooled Leather Clogs Sz 36 5.5 6 Mule Slip On Shoes ArcKeen Utility PTC Slip-On II - Women's Size 9 BlackNWOB $127- DANSKO "CLOVER" WORK WONDERS Leather MARY JANE SHOES Womens 37 6.5 -7 , Summer Womens Work Safety Occupational Steel Toe Breathable Anti Puncture ShoesDANSKO LEATHER OCCUPATIONAL NURSING SHOES CLOGS WOMENS SIZE 40 NARROW , **Dansko Vinnie Clogs, Women's Size 38 (US 7.5-8), Black , Women Breathable Antislip Anti Puncture Occupational Steel Toe Work Safety ShoesNew Womens Occupational Slip On Slip Resistant Loafers Work Nursing Flats Shoes ,


More Stories



Tags
Womens Faux Fur Tactical Mountain Waterproof Knee High Walking BootsSKECHERS Taxi - Accolade Booties - Women's Size 9 - BlackParade Brown Leather Boots Size Side Zipper Women's Size 7.5NWOB BAMBOO MONTEREY-50 Faux Leather Knee High Side Zipper Riding Boot Size 6.5 , Ladies Spot On Ankle Wellington Boots X1215 , Hush Puppies Women Burnt Orange The Collection Kustomized New / No Box Size 6Vans Authentic Red White Canvas Unisex Skate Trainers Shoes , Women Knee High Buckled Horse Motorcycle Riding Military Black Boots , Vogue Womens OL Pointy Toe Rivet Side Zip Slim Heel Court Ankle Boots US4-11 NewG. By Guess Women's Black Leather Mid Calf Boots Size 9M , NEW VINCE CAMUTO SIGNATURE Andres Chocolate Brown Leather Riding Boots SZ 7.5Tommy Hilfiger Womens Freddo Closed Toe Mid-Calf Rainboots Black Size 10.0 xVmLaredo Women's Kelli Leather Cowboy Boots Size 10 Western Brown Cowgirl , Shoe Republic LA SAPHIRE Black Peep Toe Ankle Boot Heavy Silver Studs Hardware , JCrew Collection $178 Academy Leather Loafers Sz 8 Highland Mist Shoes G8298 AVL , OSCAR DE LA RENTA BLACK LEATHER BUCKLE & TASSEL DETAIL LOW HEEL SHOES Sz 10M , Hogan Women's Shoe Pull Up Trainers Size 37 Slipper Shoes SALE NEW , Womens Walking Cradles Shoes Hayden Black Medium Width Comfort $135 Retail , 100% AUTHENTIC Miss Blumarine sneakers size , Sperry Top-Sider Women's Angelfish Stripe Boat Shoe Sand 7.5 M USMOVING SALE TOD'S WOMEN'S LEATHER SNEAKER SHOES NEW 38.5 $525 M-WIDEAhnu Women's Tola Casual Shoes Merlot 1012954-MER , Nike Air Max 1 SE Running X Fit White/Confetti/Gold 881101-100 Size 6 NWOB , Adidas Aspire adiwear Women’s Sports Shoes White/Peach NWBCONVERSE CHUCK TAYLOR ALL STAR SHOES / MULTI COLOR ( SIZE 9 ) WOMEN’S , Women's Prada Spazzolato Leather Flat Flats , Women's Sbicca Women's Chenoa Riding Boot Boots , New Style Women's Pu Leather Mid-calf Pleated High Boots Girls Casual Shoes Hkm , Hot Ethnic Womens Tound Toe Ankle Boot Sweet uhwu Blue Black Fashion Girls Shoesadidas Sambarose W Shoes Black Women B28156 ,

Dansko Black localjoes-22658 Leather Black Women Slip On Shoes Size 22665 US 10.5-11 733d3a5 - digitalcraftmedia.com




Comfort Shoes
1987357
2360514
2703232
3515477
9637937
11364275
13221064
15385760
17701584