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

Womens Rhinestone Sneakers strappyleather Punk Hot Sneakers hidden hidden heels high heels top shoes 305b10c
Womens Rhinestone Sneakers strappyleather Punk Hot Sneakers hidden hidden heels high heels top shoes 305b10c - 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.


Nike Force Sky Hi Hidden Wedge Sz 6.5 , NIKE AIR MAX 90 ULTRA 2.0 FLYKNIT WHITE PURE PLATINUM WMNS SIZE 10.5 881109-104Womens Nike Free Rn 2017 Running Wolf Grey Trainers 880840 002 , Rieker L7121 Eike 21 Sneaker - Women's Size 9.5 BlackPuma Sky II Hi SF Texture Puma White/Puma Black Women's 362872 02 SZ 8Sperry Top-Sider Women's Gold Authentic Original 2-Eye Boat ShoeReebok Cross Fit Womens Running Shoes Size 7.5 Athletic Trainers , Skechers You Rise Women's Comfort Walking Fitness Slip on Trainers Grey , NIKE women's LUNARGLIDE 8 Running Shoes Training 843726-101 White/Black size 8ASICS GEL-Resolution 6 Clay Court White - Womens - Size 12 BASICS Women's GEL-Craze TR 4 Training Shoe , New Balance 580 Black Patent Leather WRT580MT Women's SZ 7.5 , Puma Sky II Hi SF Texture Puma Black/Puma White 362872 01 Women's SZ 7.5Nike Womens sz 12 Lunarepic Flyknit Running Shoe Bright Crimson/White/Pink BlastNike Women's Kaishi 2.0 Running Shoes size 7 style 833666-400 , MBT Sport Black Leather Toning Rocker Walking Shoes Women’s Sz 10 Men’s 8 (sh82) , NIKE Womens 'CK Racer' Blue/Gray/Pink Running Sneakers Sz US-8.5 / EUR-40Vans Authentic Platform 2.0 Maroon White Womens Suede Trainers , Womens Z-COIL Gray Leather Slip On Pain Relief Comfort Shoes Size 9.5Skechers Go Walk Joy Pivotal Burgundy Womens Trainersadidas Duramo 9 Black White Grey Women Running Casual Shoes Sneakers B75990NIB NIKE AIR MAX 90 EZ BLACK WHITE ATHLETIC RUNNING SHOES 6Y = Size 7.5 WOMENSara Women's Barb 30771 LoaferNike Women's Air Max Sequent Running Shoes (8 B US) , K-Swiss Womens Hoke CMF Casual Shoe- Select SZ/Color. , ADIDAS SUPERSTAR 80s CF CQ2448 BLACK slip on vans logo fashion spring 2018 velcr , AIR JORDAN 14 RETRO Linen XIV 2005 Ferrari Women's 8.5 Rare , New Balance KL580URG:Classic 580 Elite GREY/Baby-Blue Casual Sneaker Youth/Women , Nike Roshe One Flyknit Voltage Green/White-Lucid Green Women's 704927-305 SZ 10


More Stories



Tags
LADIES BLACK WELLINGTON WITH TOP BUCKLE STYLE - X1169Roper Ladies Black Fashion Tall Side Zipper Boots 09-021-0524-0370 US Sz 7.5 , LADIES SALE SPOT ON HIGH WEDGE HEEL ZIP UP FASHION CASUAL ANKLE BOOTS F50029 , Nwob Pink color fringe midcalf zip back boots sz 7.5 suede skid proof soles flat , New Kamik Size 9 Leopard Print Rain Boots , Charles Albert Studded Black Boots New With Box Size 8 FREE SHIPPING$495 BCBG BCBGMAXAZRIA Women Hughes Over The Knee High Boot Shoe, Charcoal, US 6BareTraps Women's Bette Snow Boot Mushroom 7.5 M US Mushroom Size 8.5 6LleMATISSE Womens Black Tall Riding Boots Size 7Women's Halogen Ginger Taupe Leather Extended Calf Knee High Boots Sz 5.5 M NEWDKNY DONNA KARAN KNEE HIGH BLACK LEATHER TALL RIDING STYLE BOOTS 7.5 M SPAINAcme Dingo Cowboy Boots Tan Brown Womens Size 7.5 N Narrow Cowgirl Vintage Shoes , Carlos by Carlos Santana Womens twilight Closed Toe Ankle Fashion, doe, Size 5.0 , $139 size 6.5 INC Hadli Black Over Knee Heels Boots Women's Shoes , JANET & JANET Black Leather Gold Studded Open Toe Ballet Flats Bow 9M 39EU NEW!!Women’s Jeffrey Campbell Black Leather Clawd flat slip on shoes.US 8B. ExcellentLADIES SHOES/FOOTWEAR - Cabello 341 shoe black , 3.1 Phillip Lim size 39 D'orsay Devon Nude Flat Shoes Caramel Leather u.s. 8NIB $298+ Tory Burch Minnie Embellished Convertible Strap Ballet Flat Shoe 9 MNaot Women's Moana Flat Shiraz Leather/Volcanic Red Leather/Violet Nubuck 35 ... , Womens New Balance/Dual Comfort Gray/Purple Fashion Sneakers Sz. 7.5 M , Platform Shoes Round Toe Hidden Wedge Heel Fashion Sneakers Athletic Size Womens , Sam Edelman Women's Augusta Ballet Flat Light Gold Leather Size 8.5 M US , Vince Metallic Leather "Robin" Espadrilles Flats Size 7 $225 , ZARA NEW WOMAN SS18 TWO-TONE FLAT SHOES REF:6520/301Saucony Women's Ride 10 Running-Shoes - Choose SZ/ColorAravon Women's Bromly Ghillie Flat Sandal, Taupe, 10 2E USNike FLEX EXPERIENCE RN 6 Women's Size 11 Black Athletic Running Shoes F4-196 , Women's Salvatore Ferragamo Saba Twinkle Loafers Flats , Women's TBS Juline Navy Flats ,

Womens Rhinestone Sneakers strappyleather Punk Hot Sneakers hidden hidden heels high heels top shoes 305b10c - digitalcraftmedia.com




Athletic Shoes
1322084
1381487
3439769
5426991
6935911
8861244
9754625
13042420
13582159