Thursday, May 22, 2014
NYU is out with their latest MBA student investment newsletter - Evaluation. In this issue they interview Marc Lasry, Dr. Edward Altman, Julia Bykhovskaia, Nick Wells, Stuart Kovenksy, Allan Brown, and Max Holmes. They also share the finalist student pitches from Stern's Stock Competition. The pitches were on: ULTA, URBN, and AAPL.
Thursday, May 15, 2014
Jim Chanos walks through why he is short Green Mountain and Soda Stream and is long Starbucks.
Jim Chanos was on CNBC today and gave an update on why he is still short CNBC. They are starting to see cracks in luxury goods and gambling in Macau.
Leon Cooperman was on CNBC today and walked through his thesis on Monitise. He thinks if they get to 200m subscribers they could earn 0.15 per share and it should be a 30x or so multiple business. He thinks this business could displace some of the existing financial players. In this light MasterCard and Visa have been aggressively investing in Monitise. He thinks if they go from 20m to 200m customers he will make a lot of money.
Leon Cooperman was on CNBC today as part of his appearance at the SALT Conference. He walks through his favorite stock picks. He likes Monitise, AIG, Citigroup, Actavis, Thermoelectronics, Sprint, SiriusXM, and Sandridge Energy. They think AIG gets to mid 60s in the next few years as they get to 10% ROE. He also talked about why he sold GM. He also shared his thoughts on TimeWarner Cable which is their way to get exposure to Comcast (due to the acquisition). They also like Dollar General. Omega exited Apple at $650 and invested in Qualcomm they then went back into Apple in the low $500s and think its worth mid $600s.
Leon Cooperman was on CNBC today. He was talking about his thoughts on the market. He thinks the fair multiple on the market is 16x which is fair valuation. He thinks David Tepper has changed his view on the markets due to concerns with the ECB. Leon thinks the market is fairly valued today so there is not a huge risk of a correction. Omega does not have a lot of excess cash as they are pretty fully invested. He doesnt see any signs of recession.
John Burbank was on CNBC today after his appearance at the SALT Conference. In this clip he talks about what he sees as the risks in the market and why he has been hedging those. He thinks we could have a bear market solely due to behavioral factors since the fundamentals are pretty strong.
John Burbank the founder and head of Passport Capital was on CNBC today after speaking at the SALT Conference yesterday. He walked through his thesis on VIPshop Holdings (VIPS). He has been long since the IPO in 2011. Their internal earning numbers are 60% above Wall Street consensus. He thinks investors underrate China and thinks that the Chinese ecommerce market is bigger than in the U.S.
Wednesday, May 14, 2014
Wednesday, May 7, 2014
David Einhorn rocked the financial markets on Monday evening when he presented his short thesis on ATHN. Below please find his presentation along with some speaking notes.
Larry Robbins presented at the recent Ira Sohn conference in New York. He is long on HUM, WLP, and MON. Below please find his slide deck. Enjoy:
Below please find Bill Ackman's lengthy slide presentation from the recent Ira Sohn conference on FNMA and FMCC:
Tuesday, May 6, 2014
Monday, May 5, 2014
The fine students at Columbia Business School are out with their latest issue of Graham & Doddsville. In this issue they interview: Philippe Jabre, Arnold Van Den Berg, Eric Rosenfeld, & Kevin Byun. There is also some student pitches from the 2014 Pershing Square Challenge on: ALLE, CVC, CCL, and a Nasper's stub trade. Enjoy:
Thursday, May 1, 2014
Third Point Capital is out with their Q1 2014 letter to investors. In the letter Dan Loeb walks through his investing thesis on Dow Chemical, Softbank, and IHI. He also talks about his thoughts on the economy and how he likes the US economic growth going forward. Enjoy: Third-Point-Q1-2014.pdf