Article Reviews, Trading, Valuation

Ira Sohn Conference 2014: Summary of Calls

I was reading about the Ira Sohn Conference (May 5, 2014) that just ended. Some quick notes on the speakers and their ideas

  • MichaelNovogratz (Fortress Investment Group)
    • Long Brazil if President Dilma loses election
  • ChrisShumway (Shumway Capital)
    • Short Chinese Yuan (CNH)
    • Long Moody’s
  • JeffreyGundlach (Doubleline Capital)
    • Short S&P Homebuilders ETF (XHB)
  • PhilippeLaffont (Coatue Management)
    • Long Liberty Global Plc ($100 target)
  • Larry Robbins (Glenview Capital Management)
    • Long Humana, WellPoint
    • Long Monsanto
  • Zach Schreiber (PointState Capital)
    • Short WTI crude, offset with long Brent
    • Long Valero, Marathon Petroleum
  • James Grant (Grant’s Interest Rate Observer)
    • Short Valeant Pharmaceuticals
    • Long Gazprom
  • BillAckman (Pershing Square)
    • Long Fannie Mae, Feddie Mac
  • Paul Tudor Jones
    • First implied rate hike in US rates in July 2015, June 2016 for Europe. Don’t short bonds until 3 months before each rate hike.
    • No interest rate volatility likely means that there is no fx volatility.
    • “Macro trading has probably been as difficult as I have ever seen it in my career.”
    • “It’s gotten to be very difficult when you depend on price movement to make a living, and there is none.”
  • Mariko Gordon (Daruma Capital Management)
    • Long Electronics for Imaging (EFII), target $75
    • Long HB Fuller (FUL), target $70
    • Long Pacira Pharmaceuticals (PCRX), target $150
  • David Einhorn (Greenlight Capital)
    • Short AthenaHealth ($50 target for bull case, $14 target for bear case)



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