"Muddle Through", Mortgage-Backeds, And "Markets Are Dangerous" - SALT Day 1 Post Mortem

While the headlines are being made by David Tepper's "markets are dangerous" comments, there was plenty more bearish, bullish, and everything in between as the Skybridge Alternatives (SALT) Conference on day 1.


Via Bloomberg:

Appaloosa’s David Tepper:

Tepper nervous about markets with Central Bank complacency;


ECB “better ease” in June

Trian’s Ed Garden:

Expects there will be “huge material change” at Pepsi;


has major problem with Pepsi “bureaucracy”;


Pepsi CEO made “huge” mistake

York’s Jamie Dinan:

Sees Ukraine as big risk;


sees European equities 6-12 mos behind;


calls European credit “gift that keeps on giving”;


event-driven strategy working well

Highbridge’s Scott Kapnick:

Sees opportunities in Europe;


European banks will start to sell assets

Jana’s Barry Rosenstein:

Says no cos. “are safe today” from activists;


Jana working with Walgreen behind the scenes after Alliance Boots deal;


sees “tremendous upside” for WAG;


sees possibility for tax inversion deal

Structured Portfolio’s Don Brownstein:

Plans to start mortgage banking business;


says don’t count on great speed for Fannie, Freddie reorg

Axonic’s Clayton Degiacinto, Seer Capital’s Philip Weingord:

Axonic, Seer Bet on Mortgage Litigation Opportunity;


Both addressed the opportunity to buy mortgage bonds that are the target of litigation

Former Greek Prime Minister George Papandreou:

Says Greece “muddling through”


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