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

b1g Womens Waterproof TEVA Afton Womens 16854 9.5 Black Leather Boots Waterproof Tall Knee High Zip 8439940
b1g Womens Waterproof TEVA Afton Womens 16854 9.5 Black Leather Boots Waterproof Tall Knee High Zip 8439940 - 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.


JENNIFER LOPEZ Over the Knee Suede Platform High Heel Boots~Gray~Womens Size 8.5Korean Style New Womens Retro Buckle Strap Block Mid Heels Knight Boots Plus Sz , Women Soft Suede Wrinkles Knee High Boots Side Bow-knot Wedge High Heel Shoes , L.K. Bennett Womens Booties Size 40 10 Black Suede Zipper Closure Slim Heel , adidas usa size 5,5 women suede black winter snow Boots 36.5Clarks Black Crinkled Leather Nikki Star Buckle Ankle Boot 8 New , WOMENS JUSTIN L2667 BROWN PINK SQUARE TOE LEATHER COWBOY WESTERN BOOTS 8.5~1/2 B , Nine West Nesica Black Fashion Casual Dress Pull On Business Heel Boots Size 7Marc Fisher Kabie Black Tall Shaft Low Heel Riding Boots NEWCole Haan Womens Air Petra Strap II Side Zip Casual Knee High Tall Riding BootsDromedaris Ginger Black Leather Snakeskin Patent Ankle Booties Size 39 US 9-9.5Dromedaris Ginger Red Leather Snakeskin Patent Ankle Booties Size 40 US 10-10.5J. Crew MacAlister Brown Leather Ankle Boots Wedge Crepe Heel Size WOMEN'S 8 , Womens Nine West America Vintage sz 7 Leather Shearling Boots , BCBGirls Tall Brown Leather Cowboy Western Boots Side Zipper Womens 10BAlberto Fermani Womens Boots Size 38 8 Brown Leather AnkleBar Iii Women's Dove Ankle-High Boot , Sixtyseven Anthropologie Tan Camel Suede Tall Boots - Size 8/38 Made in Spain , Women Combat Boots Fashion Keen High Cool Retro Style Back Zipper Chain DesignThe North Face Womens Amore II Shiny Radiance Purple/Blue Winter Boots (8) NIBWomens Sweater Top Faux Suede Fur Lined Buckle Combat Block Heel Knee High Boots , Nwob Peeptoe knit elasticated material black color midcalf pull up boots sz 9.5TONY LAMA WOMENS 6.5 B SADDLE VAMP BROWN LEATHER ROUND TOE RIDING COWBOY BOOTS , Dr. Martens Doc Martens Women's Size 8 Brown Leather Ankle Hiking Boots Mens 7 , $228 J. CREW Black FRANKIE Tumbled Leather Ankle Boots Pebbled Zip Booties 9.5 , Marc Fisher Black Suede Wilde Stacked Heel Ankle Boots Bootie NEWSteve Madden Suede Zip Ankle Boots Women Fall Studs Black Praque 8.5US $149.95Aldo Womens Brown Work Boots Waterproof Shoes Size 10.5M Thinsulate Snow Winter , TONY LAMA BROWN OSTRICH BOOTS SIZE 8B ,


More Stories



Tags
Brand New Schutz Black Suede Boots w/ Gold Rhinestones Size 6B RTL $250Handmade OOAK Up-Cycled Boho Gypsy Hippie Embellished Leather Boots True Bohemia , EUC! Very Volatile Women's size 7.5 Ankle Boot Bootie STACKED HEEL Mocha BrownLAUREN RALPH LAUREN Women's "Rossalyn II" Red/Green Plaid Rubber Rain Boots SizeIMNYC Isaac Mizrahi Womens Lynn Black Ankle Boots Shoes 6 Medium (B,M) BHFO 6397Carlos by Carlos Santana Henley Women's Ankle Bootie SZ 9.5M , Diba Suede Ankle Boots/Booties -Beige Size 7 , Franco Fortini Jordyn Black Leather Buckle Accent Side Zip Booties Size 10M , White Mountain Dia' Women's Boot, Black, Size 7.0 6DN4 , New Judith Molly 2 Bootie Women's boots size 6.5Steve Madden Pammie Black Leather Pointed Toe Bootie 8.5 NewWOMENS BOOTS SIZE 10 WIDE TOTES INSULATED WATERPROOF RETAIL$90.00NEWWomen's ACME Cowboy Leather Boots Shoes Size 6.5 M BlackGrizzleez By Zigi Camp Chestnut Brown Suede Moccasin Boots Size 8 New In BoxVasque Breeze 2.0 GTX Gargoyle/African Violet Women's Hiking Boots 6.5M , Sperry Top Sider Walker Fog Women's Burgundy Rubber Rain Boots 5 , Ariat Women's Leather Low Boots/High Shoes 17040 Size 8.5B Eur 39.5Salomon Quest Women's Detroit/Asphalt/Lucite Hiking Boot 6M , New Clarks Women's Boots. Size 7,5 MZARA TULLE ANKLE BOOTS WITH FAUX PEARLS US 7.5 / Euro 38Cole Haan Women's Peacoat Patent Leather Pinch Weekender Loafers 5893 Sz 10.5 BEastland Womens Eden Oxford- Pick SZ/Color.Geox Womens Welidia1 Ballet Flat /- Pick SZ/Color.Jeffrey Campbell Play hOMG Platform Shoes Womens Nude/Silver Trainers SneakersCamper K200284-001 Womens Borne K200284 Fashion Sneaker /- Choose SZ/Color. , Sanuk Chiba Quest Knit - Men's Wome Black/Grey - Men's 8 / Women's 9 , ✿KURU Trina JetBlack Tumbled Leather Comfort Shock-Absorbing Flats 9.5 NEW L@@K! , Propet Women's Washable Walker Shoes D(W)Keen Versatrail Women's Gray Red Hiking Trail Running Shoes - US 10.5 ()Women's womens espadrilles like marsell guidi Flats ,

b1g Womens Waterproof TEVA Afton Womens 16854 9.5 Black Leather Boots Waterproof Tall Knee High Zip 8439940 - digitalcraftmedia.com




Boots
1115260
4939551
6077471
6341010
8312447
11260508
14613755
15137285
16210382