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TABLE -Hedge fund managers' investment picks from Sohn conference
May 8, 2017 / 6:16 PM / 7 months ago

TABLE -Hedge fund managers' investment picks from Sohn conference

 (Adds picks from Gundlach, Gerstner, Resnick and Robbins)
    NEW YORK, May 8 (Reuters) - Below is a table listing some of
the hedge fund managers who spoke at the Sohn Investment
Conference in New York, in order of appearance, and the
investment ideas they presented. 
    
 INVESTOR       FIRM         STOCK/BOND/     NOTES 
                             CURRENCY        
 Keith Meister  Corvex       Bullish on      Said
                Management   CenturyLink     CenturyLink/Level 3
                LP           Inc             merger is "game
                                             changing," revealed
                                             Corvex owns 5.5
                                             percent of
                                             CenturyLink.
 Debra Fine     Fine         Long DHX Media  Pegged DHX Media's
                Capital      Ltd             fair value at
                Partners LP                  C$20-C$30. 
 Bill Ackman    Pershing     Pitched long    Ackman has owned
                Square       investment in   HHC shares for some
                Capital      Howard Hughes   years. Said South
                Management   Corp            Street Seaport is
                LP                           highly valuable.
                                             Cited tax
                                             efficiency,
                                             excellent locations
                                             in United States.
 Chamath        Social       Bullish on      Said there was
 Palihapitiya   Capital LP   2022 Tesla Inc  “incredible
                                             opportunity” in
                             convertible     2022 Tesla
                             bonds           convertible bonds
                                             and that the
                                             company could
                                             capture 5 percent
                                             of the global car
                                             market and be worth
                                             hundreds of
                                             billions of dollars
                                             in a decade.
 Davide Serra   Algebris     Short U.K.      Warned on UK
                Investments  bonds, Long     inflation and said
                             Unicredit       that is one reason
                                             UK bonds are
                                             overvalued. Says
                                             Brexit will cost
                                             equal to 7 percent
                                             of GDP over the
                                             next 8 years.
 Cliff Robbins  Blue         Investors       Said undervalued
                Harbour      Bancorp Inc     relative to peers;
                Group LP                     scope for
                                             significant growth
                                             in net income and
                                             franchise value
                                             with new capital.
 David Einhorn  Greenlight   Short Core      Shares hit six-week
                Capital Inc  Laboratories    low in volume spike
                             NV              after Einhorn said
                                             Core Labs' share
                                             price way
                                             overvalued. He said
                                             oil prices are
                                             unlikely to rally
                                             sharply, expected
                                             to hit Core Lab's
                                             business.
 Jeffrey        DoubleLine   Long emerging   "When emerging
 Gundlach       Capital LP   markets ETF     markets outperform
                                    , short  the S&P 500, active
                             the S&P 500     is outperforming
                             ETF, and        the S&P 500,"
                             leverage it by  Gundlach said. 
                             using borrowed  
                             money           
 Brad Gerstner  Altimeter    Reiterated      Millennials travel
                Capital      support for     more than parents;
                             United          airlines a secular
                             Airlines        growth story.
                                             
 Josh Resnick   Jericho      Short Frontier  Said Frontier has
                Capital      Communications  aggressive
                Asset        Corp            accounting
                Management                   practices, massive
                LP                           debt load, dying
                                             business and bad
                                             customer service. 
 Larry Robbins  Glenview     Long DXC        On DXC: Good
                Capital      Technology Co   management, good
                Management          ,        acquisition of HPE
                LLC          Chemical        by CSC,
                             company FMC     partnerships with
                             Corp        ,   innovative
                             Quintiles IMS   companies, tax
                             Holdings Inc    reform could help.
                                             On FMC: Bought good
                                             assets from Dow and
                                             DuPont, among
                                             others. Transaction
                                             was advantaged to
                                             FMC. Also good
                                             lithium battery
                                             business that could
                                             split off. On Q:
                                             Significant
                                             synergies between
                                             Quintiles and IMS.
                                             Good for potential
                                             market share
                                             growth.
 
 (Compiled by Jennifer Ablan; Editing by Meredith Mazzilli and
Bill Rigby)
  

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