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

Kali 10 Sonya Women's Knee High 7 Buckle Faux Leather Boots Sonya (Adults 6 7 8 9 10 11) a57490e
Kali 10 Sonya Women's Knee High 7 Buckle Faux Leather Boots Sonya (Adults 6 7 8 9 10 11) a57490e - 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.


MARKET 22 Palmer black rounch Mid-calf boots shoes 37.5/ 7Bare Traps Tommy Taupe Wide Calf Buckle Detail Riding Boot NEW , Vogue Womens Lady Winter High Block Heel zipper Buckle Ankle Boot Shoes Booties , Bearpaw Maggie Navy Blue Suede Sheepskin Winter NeverWet Ankle Boot 8 SaleMarc 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 ShoesCharlotte Ronson Dimphy Women's Black Scallop Edge Bootie , Skintone 3"High Wedge Heel Round Toe Ankle Boots Front Strap Size 10 , Ethnic Womens Round Toe High Top Hollow Out Holes Breathable Ankle Boots SandalsCusica Dusica Womens Shoes Size 38 8 Black Solid Mid Calf Winter Boots Casual , Brand new Gorgeous Pleaser Purple Patent Stiletto Knee high boots size 10Kenneth 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 Shoes , LUCKY 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 Good , Minnetonka Womens Venice Brown Moccasin Boots Shoes 6 Medium (B,M) BHFO 8530 , Black High Knee Leather Boots Size 37 EU Vero CuoloOscar Sport Cristina Black Hair Boots Size 39 Made in ItalyConnie-10 Pointy Toe Thigh High Over the Knee Chunky stacked Heel Boots , Vince 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 GREENB Makowsky Nellie Brown Suede Oxford Wedge Boot Booties New , Womens 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 ,


More Stories



Tags
Hunters Boots Luxury Shearling Insoles, Natural, 6 Womens 5 Mens NEWWomen’s Short Brown Leather Cowboy Boots Size 7Pink Faux Suede Leather Knee High Pointed Toe Boots Size 6.5 , Unze London Womens Zipper Riding Boot size 6 Faux Leather Knee-High Bootie CHOP , LADIES WOMEN'S FLAT ANKLE BOOTS WINTER SHOES FAUX SUEDE UK SIZE Fm-1L4L by Lust for Life Womens Racy Black Over-The-Knee Boots 7 Medium (B,M) 9545Bella Vita Talina II Tall Harness Boots, Black/Super Suede , Women Over Knee High Boots Leather Slouch Suede High Heels Platform Zipper ShoesCoconuts Faulkner Black Leather Riding Boots Women's size 6 1/2M BrazilNIB! KENNETH COLE Hil Brazil Knee-Hi BOOT 10 M $198Dansko Buffy Ankle Boots 37 / 6.5 - 7 Black Leather Ruched Slouch Side Zip , Womens Velvet Chunky Pointy Toe Mid Calf Boots Casual Oxford British Shoes , Aquatalia Women's Yvanka White Combo Flats 6.5MLADIES EASY B EX-WIDE LEATHER SHOES WITH STRAP (2 COLOURS) ELIZABETH , Naturalizer Women's Insert Slip-On Loafer,Brown,11 M USALEXANDRE BIRMAN SAPATILHA NATURAL GOLD SNAKESKIN POINTY FLATS US 9.5Prada Sport Ladies Grey Sparkle Sneaker 3E6327 New In BoxNew Prada Pantofola Scollata Khaki Slip Ons EU SZ 38 $695NIKE Womens Air Max Thea White Running Training Athletic Shoes Size 11.5 IP-84Sketchers Women's Bungee Slip On White Brown Sole Casual SN 21140 Size 7 , BASKET ASH T40 CUIR CHAINES GOTHIQUES ABE A ACH IMM FP RED MOND RELAY A VOIRFILA Women's Northampton Trail Running Hiking Shoe Pick Size Grey/Blue Pre-owned , WOMEN'S OASICS HYPER-ROCKET GIRL SP5 CLEATS-WHITE/MALIBU BLUE- SIZE 11 , NEW CLARKS WOMENS AYLA FORM - WOMENS SHOES - BLACK SYNTHETIC , MIU MIU Cracked Leather Blush Pink Glitter Embellished Ballerina Flats SZ 8.5 M , PUMA Women's Basket Heart Wn Sneaker - Choose SZ/Color , Vans Womens Authentic Low Pro Velvet Black sz 5 NIB , $69.00 Cloud Steppers by Clarks Sillian Firn, Leopard Print, US 5, MSkechers Women's Bikers-Hyphen Light Brown 49466/LTBR New , Dirty Laundry by Chinese Laundry Women's joon Fashion Black Satin Size 8.5 9Uf

Kali 10 Sonya Women's Knee High 7 Buckle Faux Leather Boots Sonya (Adults 6 7 8 9 10 11) a57490e - digitalcraftmedia.com




Boots
623972
3783424
4821550
7939691
9797292
12189868
12518487
12989541
14722568