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Thursday, May 22, 2014

NYU MBA Investment Newsletter - EValuation Spring 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.

Evaluation May 2014 by marketfolly.com

Thursday, May 15, 2014

Steve Kuhn of Pine River on CNBC

Steve Kuhn the founder of Pine River was on CNBC today and talked about why he thinks bonds are poised to fall. He thinks the right trade is to buy equities that look like bonds: Rock-Tenn, Conagra, and Coca-Cola.

Jim Chanos is short Green Mountain and Soda Stream and is long Starbucks

Jim Chanos walks through why he is short Green Mountain and Soda Stream and is long Starbucks.

Jim Chanos gives an update on his China short thesis

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.

Jim Chanos on why he is short Valeant

Jim Chanos was on CNBC today and talked about why he is short Valeant (VRX). He is short since they are a roll up. He thinks they are doing some aggressive accounting and the insider selling is a key sign.

Jim Chanos on why he is short Sotheby's

Jim Chanos was on CNBC today and shared his thoughts on why he is short Sotheby's. Basically he thinks there is a bubble in the art market.

Leon Cooperman walks through his thesis on Monitise

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 favorite stock picks on CNBC

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 on CNBC part 2

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.

Leon Cooperman on CNBC part 1

Leon Cooperman was on CNBC today talking about why he still thinks stocks are the best asset class around. He doesnt think a bear market is coming about anytime soon.

John Burbank of Passport Capital on CNBC part 2

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 of Passport Capital on CNBC Part 1

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

Jamie Dinan the founder of York Capital on CNBC

Jamie Dinan the founder and head of York Capital was on CNBC today. Later today he is a speaker at the SALT Conference. He thinks there will be a lot more M&A deals in the industrial sector going forward.

Jacob Gottlieb of Visium Asset Management on CNBC

Jacob Gottlieb, of Visium Asset Management, was on CNBC today at the SALT Conference and was explaining why he is finding opportunity in the biotech bounce, and U.S. energy renaissance.

Wednesday, May 7, 2014

Tuesday, May 6, 2014

David Einhorn on Bloomberg TV

David Einhorn of Greenlight Capital was on Bloomberg TV today talking about the markets, Athena Health (his short he presented at Ira Sohn yesterday), the Fed, etc. Quite a lengthy but enjoyable interview.

Monday, May 5, 2014

Spring 2014 Graham & Doddsville

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:

Graham & Doddsville - Issue 21 - Spring 2014

Dan Ariely of Duke University at Ira Sohn

Dan Ariely a professor at Duke University was at Ira Sohn talking about behavioral finance today. Enjoy:

Michael Novogratz at Ira Sohn

Michael Novogratz of Fortress Investments was at Ira Sohn today talking about why he was long Brazil.

Bill Ackman at Ira Sohn

Bill Ackman was at Ira Sohn today where he gave a long 110 slide pitch on why he thinks Fannie Mae (FNMA) and Freddie Mac (FMCC) are significantly undervalued (something like 7x). Enjoy:

Jim Grant at Ira Sohn

Jim Grant was at Ira Sohn today saying he was long Gazprom at 2.5x forward earnings. Good things happen to cheap stocks.

Larry Robbins at Ira Sohn

Larry Robbins of Glenview Capital Management presented at Ira Sohn today. He was long on Humana and Well Point and Monsanto. Enjoy:

Thursday, May 1, 2014

Third Point Letter to Investors

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