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

Skull Women Creepers Ladies Fashion Shoes Punk Style Creepers Ladies Casual localjoes-27800 Boots Platform Shoes 7d26968
Skull Women Creepers Ladies Fashion Shoes Punk Style Creepers Ladies Casual localjoes-27800 Boots Platform Shoes 7d26968 - 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.


Disco Knee High Glitter Stiletto High Heels Boots Shoes Adult Wonder Women sz9 , UNIQUE COOL ATTITUDE WITHOUT LIMITS COWGIRL WESTERN LEATHER BOOTS SIZE US 8 1/2Lamo Navy Blue Suede Button Whipstitched Faux Fur Ankle Boots NEW , Madden Girl Womens Combat Taupe Combat Boots Shoes 7 Medium (B,M) BHFO 3422 , Women's Girls High Top Casual Sneakers Shoes Trainers Ankle Boots School NewPropét Women Sz 7 D Wide Frost Walker Ankle Cold Weather Boots Waterproof BlackClarks Bendables Black Leather Ankle Boots Womens Sz 9 M , Womens Short Fashion Zip Up Buckle Ankle Shoe Boots 2" Wide Heel Brown 6 8 NEW , Fashion Women Round Toe Lolita Bowknot Flats Student Sweet Ankle Boots 3 ColorFashion Women's Sexy Stilettos High Heels Ankle Boots Pointy Toe Shoes Plus Size , Women's BCB Generation Stretch Suede Ankle Booties Size 9M BlackBrown Caramel Heeled Fine Leather Booties Size 7.5 Women's Shoes Newport NewsNWOB B.O.C. Saturn Women's US Brown Latte Plaid Combat Boots Faux Leather Sz 8 M , Women Warm Silver Crystal Fur Fleece Rhinestones Bling Boots Montana West ShoesMadden Girl by Steve Madden Womens Fancie Red Ankle Boots 8 Medium (B,M) 5596Jessica Simpson Boot 8.5 M Kianna Ankle Harness High Heel Brown Side ZipDolce Vita Womens Shoes Size 8.5 Black Solid Leather Mid Calf Boots Casual , ROPER BRAND WOMENS 7 BROWN LEATHER COWBOY BOOTS ROPERSNew Women Autumn Fashion Thick Heel Zipper Boots Casual High heel Ankle Boots , Alberto Fermani Taupe Distressed Leather Chelsea Ankle Boot Bootie 40.5 / 10.5 , Women Slip On Pointy Toe Solid 7cm Mid Block Heel Shoes Buckles Office Chic PumpGalaxy Women Double High Top Casual Sneakers Shoes Trainers Ankle Boot PlateformKhombu Slope Ladies Waterproof Winter Boots Multiple Sizes Grey , NEW Impo Black Faux Suede Ankle Boots Booties Size 10 Floral Embroidery Heels , Rampage New Womens Estafania Black Boots 10 M Shoes NWOBPeacock New Women's Girls High Top Casual Sneakers Shoes Trainers Ankle BootsSanuk SOULSHINE CHILL Womens Mid-High Suede Boots Size 7 Black NEWClarks Ankle Boots Womens Shoe Size 9.5W Black Leather Side Zip Cap Toes B112 , Womens Rain Boots Wellies Rubber Non-Slip Cuban Heels Mid-calf Boots Water Shoes


More Stories



Tags
Botte femme fourrée simili daim semelle anti-dérapant guêtre poilu poil fashion! , ZiGi Soho Kourtlan Black Womens Shoes Size 10 M Boots MSRP $69NEW Womens Brown GNW NICELLE Dress Tall Knee High Boots SZ 8 , Barefoot Freedom Women's Ashton Bootie, Black Leather, 6 W USSC35 Beana2 Flat Ankle Boots, Barrel/Natural, 8.5 US , KEEN 5477-OAKK Brown Leather Mid-Calf Boot Womens Sz 6 /36 , Franco Sarto Womens pebbles Closed Toe Ankle Fashion Boots, Blue, Size 6.0 , PETER MILLAR Womens Purple Leather Tassel Flats Sz 7 M - 231242Bruno Magli Romualda Dark Purple Velvet Loafers Size 39 (9) Original $ 560 +% , Versace 19.69 B1670 AMALFI ABRASIVATO BARK Brogue Women's Bordeaux USBOBS from Skechers Women's Bliss Fashion Slip-On Flat - Choose SZ/ColorAvec Les Filles Renee Ballet Flats 955, Light Grey, 6.5 USAttitudes Paul Mayer 7519 Cap Toe Bow Ballet Flats, Light Pink, 6 M US DisplayDANSKO DEIDRA Women's Black Full Grain Mary Jane Size US 8.5-9BOBS from Skechers 31337 Womens Bobs Plush-Doggie Bowie Flat- Choose SZ/Color. , RAMON TENZA MADISON Women Dorsay Flats (5M, TAUPE) , Aerosoles Women's Map Out Penny Loafer , Calvin Klein Ezma Heart Loafers 196, Black Suede, 6.5 US / 36.5 EU , NIKE Air Relentless 4 Women Athletic Running Shoes Size 7.5 Black/Gray 684042 , Asics Women's Gel-Surveyor 2 Titanium/White/Sharp Green Running Shoe 11M , Vans Sk8 Hi Top Galaxy Floral Single Amputee (Right) Shoe Women size 9 (7.5 M) , Ethnic Vogue Loafers Leather Rhinestone Floral Printed Platform Slip On Shoes , Prada Sport Black Leather Round Toe Loafers Size 37 7 , ANNE KLEIN Collection Boots/Booties Dark Navy Blue Suede Size 9.5 N Used VintageCole Haan Womens Camblesam Closed Toe Loafers, Grey/Coral, Size 6.0WOMENS ADIDAS CRAZY ADV SZ 8.5 GREY OFF WHITE PINK CQ2846NWOB Women's Converse Chuck Taylor Sneakers Gemma Rare VTG Fit Bling Rare SZ 8 , ASICS Womens Gel-Venture 6 Phantom/Coral/Lime Running Shoes Size 9.5 (424255)Madden Girl Womens Black Riding Boots Size 7 (427718)Arc'teryx Womens Acrux FL GTX Waterproof Approach Shoes Graphite Orchid 9 US

Skull Women Creepers Ladies Fashion Shoes Punk Style Creepers Ladies Casual localjoes-27800 Boots Platform Shoes 7d26968 - digitalcraftmedia.com




Boots
609513
2917722
3194491
4413602
4516052
5161727
8053642
12389889
14182378