Ira Sohn Lights Up Wall Street and Twitter
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Maybe as a sign that the stock market really is back in fashion, today's Ira Sohn hedge fund conference (#sohn2013) in New York is the top trending item on Twitter.
Stock ideas from the conference, which is dedicated to supporting innovative initiatives to cure and treat pediatric cancer, have been coming in fast and furious Wednesday afternoon from some of Wall Street's top names, including: David Einhorn, Jeff Gundlach, Bill Ackman, Paul Singer, Kyle Bass, Stanley Druckenmiller and Steven Eisman.
A quick run-down:
- Paul Singer said developed countries, including the U.S. have long-term insolvency risk. He said there is no safe haven in today's markets.
- Kyle Bass commented on Japan. "You have to be shitting me, you're adding a ponzi scheme to a ponzi scheme." He also touted Dex Media, Inc. (NASDAQ: DXM) saying the equity will trade at 5x the current price in 3 years.
- Li Lu was positive on Korean large caps like Samsung and Hyundai Motor. He also noted Korean preferred trade at a discount
- Keith Meister said he owns TW Telecom Inc. (NASDAQ: TWTC) and Level 3 Communications, Inc. (NYSE: LVLT) and believes the two should merge. He said he owns 6% of TW Telecom and plans to file a 13D shortly. He owns 3% of Level 3.
- Bill Ackman reiterates that he likes Procter & Gamble Co. (NYSE: PG). He calls it one of the best businesses in the world. Ackman said Procter & Gamble is under-earning and never fully integrated Gillette.
- Stanley Druckenmiller sees a bull market in Japan and expects stocks to head higher. He sees an end for the commodity super-cycle given rising supply and falling demand from China. He said Google (NASDAQ: GOOG) was his biggest holding.
- Steven Eisman was very positive on U.S. housing while negative on Canadian housing. He likes Forestar Group (NYSE: FOR) and said it is worth at least $30/share. He was also positive on homebuilders like Lennar (NYSE: LEN) and Pulte (NYSE: PHM). In addition to being bullish on Colony Financial, Inc. (NASDAQ: CLNY) and Fortune Brands Home & Security (NYSE: FBHS), Eisman said he likes Ocwen Financial Corp. (NYSE: OCN) saying it is mis-priced. Eisman said Ocwen is the best way to play housing and sees a lot of upside in the stock.
- David Stemerman was negative on South Africa
- Jim Chanos said hard disk drive is a value trap. Stocks impacted: Seagate Technology (NYSE: STX) and Western Digital Corporation (NYSE: WDC).
- Jon Jacobson of Highfields Capital says he is short Digital Realty Trust Inc. (NYSE: DLR). He said the stock is worth about $20 per share versus its current price of $69. He was also cautious on AT&T (NYSE: T) and Linn Energy (NASDAQ: LINE).
- Cliff Robbins said he sees a perfect storm for M&A and is bullish on CACI International Inc. (NYSE: CACI). Robbins also said he is bullish on Akamai (NASDAQ: AKAM).
- Jeffrey Gundlach said, "I recommend taking all your money out of any bank." He also doesn't seen an end to QE from the Fed. He also said if you want to buy stocks because of QE go to Japan. Gundlach also repeated his short on Chipotle Mexican Grill (NYSE: CMG).
- David Einhorn was bullish on Oil States International Inc. (NYSE: OIS). He said if JANA is successful in pushing the company to split its Accommodations business and form a RIET the stock could be worth $155/share.
Stock ideas from the conference, which is dedicated to supporting innovative initiatives to cure and treat pediatric cancer, have been coming in fast and furious Wednesday afternoon from some of Wall Street's top names, including: David Einhorn, Jeff Gundlach, Bill Ackman, Paul Singer, Kyle Bass, Stanley Druckenmiller and Steven Eisman.
A quick run-down:
- Paul Singer said developed countries, including the U.S. have long-term insolvency risk. He said there is no safe haven in today's markets.
- Kyle Bass commented on Japan. "You have to be shitting me, you're adding a ponzi scheme to a ponzi scheme." He also touted Dex Media, Inc. (NASDAQ: DXM) saying the equity will trade at 5x the current price in 3 years.
- Li Lu was positive on Korean large caps like Samsung and Hyundai Motor. He also noted Korean preferred trade at a discount
- Keith Meister said he owns TW Telecom Inc. (NASDAQ: TWTC) and Level 3 Communications, Inc. (NYSE: LVLT) and believes the two should merge. He said he owns 6% of TW Telecom and plans to file a 13D shortly. He owns 3% of Level 3.
- Bill Ackman reiterates that he likes Procter & Gamble Co. (NYSE: PG). He calls it one of the best businesses in the world. Ackman said Procter & Gamble is under-earning and never fully integrated Gillette.
- Stanley Druckenmiller sees a bull market in Japan and expects stocks to head higher. He sees an end for the commodity super-cycle given rising supply and falling demand from China. He said Google (NASDAQ: GOOG) was his biggest holding.
- Steven Eisman was very positive on U.S. housing while negative on Canadian housing. He likes Forestar Group (NYSE: FOR) and said it is worth at least $30/share. He was also positive on homebuilders like Lennar (NYSE: LEN) and Pulte (NYSE: PHM). In addition to being bullish on Colony Financial, Inc. (NASDAQ: CLNY) and Fortune Brands Home & Security (NYSE: FBHS), Eisman said he likes Ocwen Financial Corp. (NYSE: OCN) saying it is mis-priced. Eisman said Ocwen is the best way to play housing and sees a lot of upside in the stock.
- David Stemerman was negative on South Africa
- Jim Chanos said hard disk drive is a value trap. Stocks impacted: Seagate Technology (NYSE: STX) and Western Digital Corporation (NYSE: WDC).
- Jon Jacobson of Highfields Capital says he is short Digital Realty Trust Inc. (NYSE: DLR). He said the stock is worth about $20 per share versus its current price of $69. He was also cautious on AT&T (NYSE: T) and Linn Energy (NASDAQ: LINE).
- Cliff Robbins said he sees a perfect storm for M&A and is bullish on CACI International Inc. (NYSE: CACI). Robbins also said he is bullish on Akamai (NASDAQ: AKAM).
- Jeffrey Gundlach said, "I recommend taking all your money out of any bank." He also doesn't seen an end to QE from the Fed. He also said if you want to buy stocks because of QE go to Japan. Gundlach also repeated his short on Chipotle Mexican Grill (NYSE: CMG).
- David Einhorn was bullish on Oil States International Inc. (NYSE: OIS). He said if JANA is successful in pushing the company to split its Accommodations business and form a RIET the stock could be worth $155/share.
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