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

Nine West elastic 'Leeto' black man made toe elastic man bootie pointed toe heel 8.5M 1449f42
Nine West elastic 'Leeto' black man made toe elastic man bootie pointed toe heel 8.5M 1449f42 - 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.


Dolce By Mojo Moxy Black Boots, 9.5STORMERS WINTER LINED LADIES 7 BOOTSROUTE 66 Womens BLACK FAUX SUEDE/FUR KNEE CUFF Wedge Heel Boots Size 9 EUC , Skechers 6.5 Dark Coffee Brown Leather Retro Style Chunky ShoesGabriela Rocha Brown Mid-calf Boots ,size 9� EXCELLENT � CLARKS® 74466 Women's High Heel Ankle Bootie Boot Brown Sz 8.5 M , WOMEN'S Black TOP MODA* HIGH-chunky HEEL ANKLE BOOTS SZ8Brown Apple Bottom Boots, Size 8.5 , Women's Antonio Melani Sz 9 Brown Leather Boots. WB55 , George Women's Suede Mid Calf SEXY High Heels Stilettos Boots Size 10 , VAN ELI TWO WAY WEAR Boot GRAY Suede Leather SZ 8 49.99Women's Rampage Brown Sz 7 Western Boots. WB57 , WILD DUCES EDDIE MURAN "DAWN" Women's Zip Up Ankle Boot Sz 6.5 M Brown StudsShoe Cult By Nasty Girl Women Boot Sz8Kamik Womens Size 7 Fashion Rain boots Dark Brown Nice Rubber SolesAerosole Central Ave Boots Booties 8M Brown , Columbia Cascadian Summit Gray/Black Boots' Size 8NEW WOMENS ANDIAMO SAND RODEO BOOTS SHOES SIZE 9.5M 9.5 MA NEW DAY Target Velvet Floral Peacock Ankle Boots Heels Women’s Size 8.5 , BRAND NEW WOMENS DARK BROWN ANDIAMO SANDIE BOOTIES BOOTS SIZE 6W 6 WVince Camuto "Daysha" Black Suede Leather Round Toe Wedge Booties 8 B , American Eagle High Boots Size 6 Womens Black , NEW WOMENS BIJOU BLACK KWON BOOTS SIZE 6 MVintage Town And Country Brown Suede Short Boots Women’s Size 8Ralph Lauren brown knee high boots size 7.5 womens , DONNER MOUNTAIN BLACK INSULATEDONNER MOUNTAIN BLACK INSULATED WINTER BOOTS 9 MVera Wang 4" Spike Heeled Buckle Fur Lined Black Ankle Boot 7 M OLIVIAGuess Womens Black Leather Size 7.5 Boots Knee Length WORN HEELSTalbots Black Genuine Leather Brazilian Heeled Ankle Bootie- Size 9.5N ,


More Stories



Tags
Nocona Cream White Leather Cowboy Western Boots Womens Size 4.5 B USA , Truffle Rylee Buckle Detail Ankle Boots Black Patent MM1 Women's UK:7/EU:40/US:9Women's 5.5 5-1/2 G by Guess black tall riding boot heel Harvest , ENZO ANGIOLINI "Eero" Black Upper Leather Women Riding Boots Sz 7.5 NEW , Style & Co. New Astarie Brown Womens Shoes Size 8.5 M Boots MSRP $99.99 , Colin Stuart Black Leather Tall Stiletto Heel Boots Silver Chain 8.5 Knee HighCape Robbin Metis-1 Burgundy Stars And Stripes Ribbed Knit Over-The-Knee Boots , Volatile Women's Wesley Boots, Black, Size 7.5 , TEVA BISON BROWN DE LA VINA ANKLE WATERPROOF LEATHER BOOTS, US 7/ ~ NIBTecnica Moon Boot W.E. Low Nylon Boots - Women's Size 6, BrownShï by Journeys Womens 971088 Almond Toe Knee High Fashion Boots , NEW Women's BOGS Auburn Rubber RAIN BOOTS, Black, Sz 10 M (41)Suede I.N.C Boots Ladies 9B Brand New , MONEY WHISTLE LADIES CLARKS BLACK GRAIN LEATHER FLAT COMFY ZIP UP ANKLE BOOTSNina Payne Womens Desi Slides Shoes Ivory Bronze Size 36 New , $160 EASTLAND CHANDLER 1955 White Patent Designer Penny Loafers 8.5 , Columbia Womens Powder Summit II Mid 6.5 USCall It Spring Womens MOILLAN Round Toe Ankle Fashion Boots, TAUPE, Size 11.0 63 , women over ankle boots rivet studded buckle platform bockle side zipper shoes , Dansko NARROW Professional Black Oiled Leather - size US 12 - was $125 , NEW BALENCIAGA STUDDED BLACK SOFT LEATHER BALLET BALLERINA FLAT SHOES 37 C/7 C , new $595 Giuseppe ZANOTTI white/green ALL SEQUINS ballet flats shoes - cute , J.CREW EMBELLISHED SATIN SLINGBACK FLATS SIZE 8M FADED BLOSSOM G7995 , Nine West Women's Telly Suede Fashion Sneaker - Choose SZ/Color , Nike Womens Cortez 72 Running Trainers 847126 001 Sneakers Shoes , SKECHERS Shape-Ups Women 8.5 Walking Shoes Fitness SN11800 Beige Brown Athletic , New Balance Big Kids' Girls' 574 HERITAGE SPORT Running Shoes Pink KL574HKG a , Women's Baffin Women's Chicago Snow Boot Boots , Women's Tahari Finn Women's Boots Black BootsTommy Hilfiger Tommy Stud City Sneaker Womens Navy Suede & Synthetic Trainers ,

Nine West elastic 'Leeto' black man made toe elastic man bootie pointed toe heel 8.5M 1449f42 - digitalcraftmedia.com




Boots
2063663
8154062
10995506
12759231
13401184
15713466
16060762
18054938
18183109