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

WOMEN ANKLE BOOTS STILETTO WOMEN HIGH HEEL SUEDE SUEDE STILETTO STUDDED DETAILS SHOES SIZES 3-8 2ff3ede
WOMEN ANKLE BOOTS STILETTO WOMEN HIGH HEEL SUEDE SUEDE STILETTO STUDDED DETAILS SHOES SIZES 3-8 2ff3ede - 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.


Justin Womens Classic Western Boot Sz 6 B Brown Tan Pull On Cowboy Everyday , NWOT No Parking Women Over Knee Boots Size 8.5 Gray Faux Suede , Steve Madden Women's Leather Black Riding Boots Size 7M , Kamik Leopard Print Boots Rainboots Rain Farm Chore Gardening Muck Womens Size 6 , 14 UNION BROWN GENUINE LEATHER BOOTS SIZE 6 MADE IN MEXICOShoes8teen Womens Ladies 10" Winter 3 Button Boot with ToggleBottes Femme Talon Compense 38 Suedine Simili Cuir Daim Noir SUEDE BYTKISSNIB XOXO Glorius Black Ankle Boot in Women's Size 7.5BWoman's brown Ankle Boots Size 10 , Brinley Co Women's Sutton Pump, Taupe, 7.5 Regular US , Not Rated Womens Captain Country Black Ankle Boots 6 Medium (B,M) BHFO 2952Call It Spring Metaponto Ankle Boots 996, Bone, 7 US / 37.5 EU , NWOT VINCE CAMUTO Ankle Boot Bootie 8.5 M Black Flat Leather Boots , Unze London Womens Zipper Riding Boot size 7 Faux Leather Knee-High Bootie CHOP , Rocket Dog Camilla Black Boot Shoe Size 9.5 , Nike Winter Hi 2 Boots Brown and Pink Snow 317244-261 Women's Sz 7 M , Gianni Bini Booties Boots Size 7LADIES BOOTS SIZE 9 1/2 MED , Steve Madden Womens Tala Black Nubuck Booties Shoes 10 Medium (B,M) BHFO 5906east 5th brown faux leather booties vegan boots shoes size 9.5 w zip upNaughty Monkey Womens In Lyne Taupe Suede Booties Shoes 6 Medium (B,M) BHFO 0223UNBRANDED BLACK QUILTED KNEE HIGH BOOTS FLAT HEEL WOMEN SIZE 7.5M , BOTTES FOURREES DAMES GRISES BRILLANTES - STYLE ANORAK - - 39 - TB état , womens winter boots faux leather black fur dollhouse sz 7 , Ladies Preowned Albee Madden Girl Brown W/Buckle Pull On Fashion Boots Size 8.5New Zara Shimmery High Heel Stretch Ankle Boots , Knee High Boots Womens 9.5 US Winter Fluffy Sportique Brown Suede Warm Excellent , Born Flex Copper Sandals 10 EUC - many pairs will combine shippingWomens Boots Black Women's Shoe Size 9.5 ,


More Stories



Tags
WOMANS CHECKED PATTERNED FASHION WELLINGTON BOOTS , Rampage Emerynn Tall Boot - Women's Size 6.5 M, Black , Steve Madden P-Laura Brown Suede Leather Zip Winter Boots Size 7.5Vintage Women's Black Leather Boots w/ Buckle Size 8 1/2 NSteve Madden Arren Women US 10 Brown Taupe Suede Heeled Bootie Ankle Boots , Born Gray Branbury Fringe Boots. Size 7.5.Ellie Shoes Women's 421-Groove Engineer Boot, White, Size 8.0GUESS Womens 7 M Guyana Black Knee High Platform Boots Croc Zip Stiletto HeelsCole Haan D15559 Women's 16" Boots 5.5 MNew LUCKY BRAND Sz 6 Sesame Brown Ecoch Ankle Boots Bootie ShoesWomens Gray 1" Low Heel Round Toe Combat Strap Sexy Mid-Calf Boot Size 7.5 , Charles by Charles David Women's Gunter Fashion Boot, Black, Size 8.5 qpnuRoper Womens Cowboy Boots Black Short Faux Leather Fashion Pointed Toe Size 8 , $140 STEVE MADDEN BLACK LEATHER ANKLE BOOTS SZ 10MLifeStride Womens Watchful Fabric Closed Toe Ankle Fashion, Dark Brown, Size 6.5 , Patron Perugia, All Leather, Womens Size 8, Boots Tan Western Cut OutEasy Street Womens jem Closed Toe Ankle Fashion Boots , Klogs USA Women's Mission Clogs Navy Tooled 6 MDIEPPA RESTREPO Lady Sand Nubuck Tan Natural Leather Block Heel Ankle Boot 10/40 , Kiss 200-16 Black Leatherette Platform Foldable Ankle Boot Shoe Zipper Front , CLARKS Women's Wave.Run Slip-On,Black,9.5 M US , Ladies Van Dal Low Wedge Smart Shoes Diana , Nine West Womens Uala Fabric Walking Shoe- Pick SZ/Color. , Skechers BOBS Women's Plush-Chambray Ballet Flat - Choose SZ/Color , Freebird By Steven Womens FB-Nola Slip On Mule Shoes , NIKE AIR MAX GOADOME TAN WOMENS BOOTS 916807-200 NEW SIZE 8.5Propet Stability Walker Strap - Black - WomensAerosoles With Pride Women Round Toe Synthetic Brown Knee High BootPredictions Women Casual Dress Shoes BlackNike Air Max 1 Print Cherry Blossom Womens 528898-102 White Blue Shoes Size 11.5 ,

WOMEN ANKLE BOOTS STILETTO WOMEN HIGH HEEL SUEDE SUEDE STILETTO STUDDED DETAILS SHOES SIZES 3-8 2ff3ede - digitalcraftmedia.com




Boots
142209
2043368
7475322
7628519
8685825
9504386
14559633
14840307
16759876