Ira Sohn Conference Picks And Pans Summary

Tyler Durden's picture

In what was perhaps the most uneventful Ira Sohn book-talking conference in years, some of the biggest hedge fund names came, and as expected, talked their book. There were few surprises, perhaps with the exception of David Einhorn who may have pulled an Ackman and revealed his disdain for Pioneer Natural Resources, which sent the name and the fracking sector lower if only briefly. Indicative of the broader state of the "market" Einhorn was also the only person who pitched a short.

Einhorn's problem, perhaps in line with all those who hated Chesapeake in 2012 is that he still thinks fundamentals matter when in reality a money-losing corporation can exist in perpetuity if it merely finds enough yield-starved junk bond investors - those who bought the Greek 5 year bonds a year ago shoud suffice - to fund the endless cash drain with other people's money.

It remains to be seen if the Pioneer will now surge in an attempt to force squeeze Einhorn, the way Icahn did with Herbalife over Ackman's infamous short.

Corvex' Keith Meister pushed for a breakup of Yum Brands Inc. and Jeffrey Gundlach pitched buying Puerto Rican bonds.

The following table is a 1 minute summary of what all the market participants pitched or panned.

Curious for more? Both Reuters, and WSJ's Moneybeat did a comprehensive update for those who still believe alpha exists in centally-planned markets.

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ted41776's picture

we reverse mortgaged some folks

HedgeAccordingly's picture

well.. Bill Gross.. thinks its all coming to and end.. "

Bill Gross Says End Of Historic Bull Market Is Near"

quintago's picture

Cooperman? Did you say Cooperman? His calls are ridiculous.

Weaponized Innocense's picture
Weaponized Innocense (not verified) quintago May 4, 2015 6:51 PM

In a rigged market.... Mind u when u say that ....

Downtoolong's picture

a 1 minute summary of what all the market participants pitched or panned

Even one minute listening to these overated and overpaid egomaniachal market gurus talk their positions (and/or positions they want you to buy into so they can become your counterparty) is a bit too much like sticking your dick in a meat grinder.

No thanks. If I want to watch self flagellation, I’ll do it myself.

AIIB's picture
AIIB (not verified) May 4, 2015 6:58 PM

Oh great! an Ira Sohn thread to top off my Janet Yellen money counterfeitting day!


It can only get better if Einhorn, Rosenstein Meister, Cooperman, Gundalch, & Ackerman are chiming in...


FFS ~ There are less jews on FIDDLER ON THE ROOF

Farmer Joe in Brooklyn's picture

I thought the same when I read the list of soeakers...

It's like a "who's who of jews".

AIIB's picture

Jesus tapdancing Christ...


1. Prolly 5 out of every 6 articles on ZH are about some MSM, banking, political, or legal brouHAHA...

2. MOST of them are about some 'malfeasance' being perpetrated in that sector

3. Jews control 80% of ALL those power nodes


FFS ~ WTF do they expect any of the comments to focus on (unless they presume all ZH readers to be total IDIOTS ~ which may have somewhat of a margin of truth to it, but, PROLLY NOT, I presume what would normally be categorized as IDIOTS as PAID SYCHOPHANTS ~ knowing that there's actually an 'industry' in that & all)...

stant's picture

We need a new battle of trafalger

mastersnark's picture

Because Spain and France are doing something other than being overrun with Africans...?

Loucleve's picture

Cooperman..........Ultra Deep Gulf Royalty Trust.  owns 5,000,000 shares.

looks like some kind of FCX vehicle.  came public mid 2014 at $2.

Its 84 cents, and they just filed an 8K delisting notice.

suck it up Leon.