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

Women's Boots Over Toe The Knee Thigh High Boots Open Heel Toe Lycra Pull On Chunky Block Heel 7f534b7
Women's Boots Over Toe The Knee Thigh High Boots Open Heel Toe Lycra Pull On Chunky Block Heel 7f534b7 - 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.


Marc Fisher Justice Faux Suede Side Zip Tie Back Ankle Boots Womens 5.5 M Taupe+ , Womens pull on Mid Calf boots Platform Hidden Wedge Heel casual Snow Boots Shoes , Charlotte Ronson Dimphy Women's Black Scallop Edge Bootie , Skintone 3"High Wedge Heel Round Toe Ankle Boots Front Strap Size 10Ethnic Womens Round Toe High Top Hollow Out Holes Breathable Ankle Boots SandalsCusica Dusica Womens Shoes Size 38 8 Black Solid Mid Calf Winter Boots CasualBrand new Gorgeous Pleaser Purple Patent Stiletto Knee high boots size 10 , Kenneth Cole Reaction Womens Brown Tall Zip Up Gina Riding Boots Size 7 NIB , OLD NAVY FAUX SUEDE BLACK PERFORATED PEEP TOE 3 IN HEEL LOW BOOTS BOOTIES 9 , Columbia Women’s Brown Leather Fleece Lined Winter Boots Size Sz 9 M , $99 size 11 Baretraps Addye Taupe Suede Ankle Booties Womens Winter ShoesLUCKY Brand Joelle Western Bootie Size 8 Women's Slip On Boot Brown Pointed Shoenew Brown Womens 1.5 Low Hidden Wedge Heel Side Bow Knee Sexy Boot Size 9Plenty by Tracy Reese Hurley Suede Mid Calf Boots Date Brown 40M 10 NIB $240 , Dingo 17694 Brown Scroll on Black Shaft Western Boots Womens 7 1/2 M Very GoodMinnetonka Womens Venice Brown Moccasin Boots Shoes 6 Medium (B,M) BHFO 8530 , Black High Knee Leather Boots Size 37 EU Vero Cuolo , Oscar Sport Cristina Black Hair Boots Size 39 Made in Italy , Connie-10 Pointy Toe Thigh High Over the Knee Chunky stacked Heel BootsVince Camuto gray leather platform ankle boots side zipper sz 6 BDailyShoes Western Womens Slouch Mid Calf Ankle Strap Buckle Cowboy BootsANIMAL PLATFORM CASUAL CREEPER SHOE FUNKY TABBY CAT COMFORT FLAT WALKING GREEN , B Makowsky Nellie Brown Suede Oxford Wedge Boot Booties NewWomens Over the Knee Toe Thigh High Stiletto Heels Boots Breckelles Beverly-15 , Knee High Boot | Faux Suede Slouch Upper | Pointy Toe | Thin Stiletto Heel Boots , Totes Women's Joni Snow Black Waterproof Boot - Size 9 Wide - WNB , Women Knee High Boots Zip Stilettos Heels Patent Leather Platfrom Fashion ShoesNEW LEOPARD ANIMAL PRINT WEDGE BOOTIE SIZE 5.5, 6, 6.5, 7, 7.5, 8, 8.5, 9, 10 , Torrid Trendy Brown Knee High Riding Style Boots Size 13 Wide Width NEW


More Stories



Tags
New Bellissimo New Maria Womens Wedge Knee High Boots , Women's Fling Brooke Brown Leather Western Fashion Knee High Boots Size 10 BMichael Antonio MULTI-COLOR Patch SUEDE Fashion BOOTS , Womens North Face 9.5 9 1/2 Primaloft 200 Gram Insulated Winter Grip Snow Boots , BOTTILLONS FEMME PIKOLINOS T 38 ROUGE TOP QUALITE TBE A ACH IMM FP RED MOND , Ivanka Trump Womens Lettie Gray Suede Pointed Toe Ankle Boots Shoes BHFO 3998 , Fergalicious Womens tootsie Suede Almond Toe Knee High Fashion Doe Size 8.0 VrNAOT Women's Black Leather Zip Heel Ankle Boots Size 36 (Fits like 5-6)Karen Scott Women's Flynne Block-Heel Booties Black Size 5.5 M , LAUREN Ralph Lauren Women Knee High Equestrian Boots Size 5.5 B Brown LeatherRock and Candy Women's Spraypaint Combat Boots Tan Brown Size 6 M , Kenneth Cole New York Otto Nubuck Lug-Sole Bootie Sz 7.5 In brick color PlatformSam Edelman PENNY dark brown riding boots 6.5 WIDE NEW WITHOUT BOX , CLARKS Women's Everlay Kennon Mary Jane Flat, Black Leather, 8 W USRockport Women's World Tour Oxford Black US Size 10.0MSTEVE MADDEN WOMAN BALLET FLATS SHOES CASUAL FREE TIME SUEDE CODE ELEANORR , Lacoste Women Flats Oxfords Carnaby Evo 118 6 Fashion Sneakers White , NEW IN BOX WOMEN'S US 7 8 9 DR. MARTEN'S 1461 VIRGINIA LEAD 3 EYE OXFORD SHOES , MIU MIU PRADA Cute Classy Donna Suede Bow Loafers , New Moschino Black Leather Logo Ballet FlatsWomen's Oxmox Italian Designer 101 Flat slip on shoesBCBG Max Azria MA-CLOE RUST ballerina shoes Women's Brown USNIB Tory Burch Crab Flat Espadrille Loafer Shell Blue Dusk/Whte Striped Sz 10.5M , JCrew $268 Kiki Leopard Calf Hair Ballet Flats Sz 8.5 Grey Brown F5512 AVL , Converse Women's Chuck Taylor All Star Dainty Ox Black 8 B(M) USNEW BALANCE 644 Absrob Trail Hiking Sneakers Running Brown US 8B women , SKECHERS WOMENS GO STEP-DECK WALKING SHOES 14414/BLACK/WHITE , Women's Brown Tall Boots BootsWomens Low Block Heel Shoes Round Buckle Pull On Patent Over The Knee Heel Boots , Kenneth Cole New York Women's Kalvin Midtop Pull-ON Sneaker - Choose SZ/Color

Women's Boots Over Toe The Knee Thigh High Boots Open Heel Toe Lycra Pull On Chunky Block Heel 7f534b7 - digitalcraftmedia.com




Boots
2372213
5339385
5681192
6057236
6814267
7092144
17830899
18204283
18353884