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

Chic Carved Women's Wing Tip Carved Block Heels Shoes Wing Brogues 5935 Bootie Ankle Boots Pumps 360b603
Chic Carved Women's Wing Tip Carved Block Heels Shoes Wing Brogues 5935 Bootie Ankle Boots Pumps 360b603 - 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.


Womens Stiletto High Heels Pointed Toe Zip Fur Lined Over Knee High Boots US4-12Womens low heels mid-calf boots Winter side zippers fashion tassels warm shoes2019 Women Leather Mid Heels Ankle Boot Pointed Toe Cross Strap Knight Shoes SZVery Versatile Boots Size 5.5 Gray Fashion Heels Women Cowboy Multi-color , Womens Suede Wedge Heels Zip Casual Ankle Boots Shoes Warm Vogue Shoes A2570Casual women faux suede cuffed over knee boots stiletto heels platform pull on , Women Winter Warm Fur Hidden Heels Mid Calf Boots Platform Pull On Fashion Shoes , Easy Street Steff Mid Heel Shooties Womens Shoe Boots Mid HeelWomens Mixed Colors Rivet Pointed Toe Ankle Riding Boots Med Block Heels Shoes , fashion Womens Tassels Faux Suede pull on Flats Casual Shoes Ankle Boots , Womens Low Heels Ankle Boots Back Zip Round Toe Casual Shoes Block Fashion G363 , Womens Punk Buckle Military Riding Boot Flats Zip Over Knee High Boots All US Sz , Women Fringe Boots High Fashion Slouch High Heel Boot Stylish Shoes All US SizeRed Camel Brown Suede Boots Leather Fashion Ankle Cowboy Ocala Size 8.5 M , NEW Candie's Women's Fold Over Slip On Fur Ankle Boots Low Cahootstone Size 8.5Women Metal Buckle Punk Retro Mid-calf Riding Combat Boots Zip Shoes Plus SizeNEW Womens Platform Round Toe Riding Ankle Boots Warm Creepers Casual Shoes E837Women Casual Pointed Toe Stiletto High Heels Solid Zip Matte Leather Ankle BootsFashion Womens Slouch Boots Non-slip Block Heels Buckle Strap Casual Shoes SZ , SZ4.5-13 Platform Hidden Wedge Mid Calf Boots Slouched Pull on Womens Shoes New , Earth Origins Emerald Wide Women’s Nubuck Black Leather Ankle Boots sz 7D , Sexy Womens pointy toe Faux Suede Stiletto Over the Knee Thigh Boots Party Shoes , Clarks Brown Leather Side Zip Short Boots Sz 10 ~*~ EXCELLENT , Womens Round Toe High Block heel Zip Knee Boot SHoe Denim Buckle Denim Party , Naturalizer N5 Comfort Krypton Ankle Boots Moccasin Truffle Taupe 7.5 , goex womens sz5.5 boots hiking/outdoor sel adhesive straps brown leather italianWomens Winter Fur Trim Faux Suede Block Chunky Heels Snow Mid-Calf Boots X187 , Nicole Women's Distressed Leather/Suede Winter Heels Zipper Boots Size 8 MLolita bowknot zip ankle Chic boots womens High Block heel sweet shoes US4-10.5


More Stories



Tags
Women Winter Fashion Black Ankle Snow Boots Waterproof Wedge Platform Shoes- 10 , 360828 Women's Shoes Size 7 M Black Suede Boots H.S. TraskBP Tan Boots Round Toe Wooden Chunky Heel Short Vintage Ankle Boots Size 13mNIB Steve Madden Grey "Yogi" Boot 7 MensSperry 9173626 Top-Sider Hikerfish Linen Leopard Moc Toe Boots Women's U.S. 7 MWomen's Classic Knee High Rain Boots SIZE 6 CORAL , BCBG Craftee Brown Womens Shoes Size 6 M Boots MSRP $118 , Bare Traps Ragini Dark Brown Suede Water Repellant Faux Fur Boot 11 Newmadden girl Barbiee Pull On Ankle Boots 990, Pewter, 8.5 USMARCO TOZZI Women's Boots Ankle Boots Ankle Boot Boots Wedge Heel Brown NEW , ✿MIA HERITAGE Tan Suede Oiled Leather Straps 2.75" Heel Zip Boots 7.5 NEW! L@@K!WILD DIVA Loren Mermaid Green Blue Sequin Stretch Stiletto Ankle Boots BootiesJessica Simpson Womens Pacifika Pointed Toe Mid-Calf Black LXPTSC Size 8.5 2cY , Bakers Leather brown High Heel Boot sz 6.5TOD'S WOMEN'S LEATHER LOAFERS MOCCASINS NEW HEAVEN LACCETTO SCOOBY DOO GR 6EF , Tory Burch Sachet Pink Marion Quilted Soft Nappa Leather Sneakers SIZE 8.5M , Women's Asics Gel Flux 2 Athletic Running Shoes Size 7.5 (T568N)Josef Seibel Sina 11 Womens Size 8-8.5 US/39 EU Asphalt Fashion Sneakers ZV-408Brand New In Box Clarks Women's Wave RunVionic Womens Action Emerald, Dark Grey 10 Wide - NEWWomen's Nike Free 5.0 TR Fit Print Running Shoes Size 7.5 , NEW Steven by Steve Madden Rose Gold Peyton Metallic Leather Sneaker 7.5Women's Nature Breeze Bridget-02Hi Womens Shoes Boots , Women's Toru Burch Flats 7.5 Flats , Women's Marc Fisher LTD Womens Vashi Boots , Women's dr martens Boots , Women's New-Look - Bottine femme T.38 Boots , Womens Faux Suede Knee High Boots Zipper Retro RIding Pointy Shoes ZipperLEATHER NURSING SHOES WITH ANTI SLIP OUTSOLE MEDICAL FOOTWEAR 9112W Wide SizingADIMX adidas Performance Womens Pure Boost X TR Zip Cross-Trainer Shoe

Chic Carved Women's Wing Tip Carved Block Heels Shoes Wing Brogues 5935 Bootie Ankle Boots Pumps 360b603 - digitalcraftmedia.com




Boots
148093
3284888
3367827
8933477
10641021
11547282
15628514
18406345
18870752