Pershing Square Letter to Investors

Bill Ackman's Pershing Square Capital is out with a letter to investors describing their efforts with Herbalife (HLF) and their current positioning.  They also allude to a new position that the fund is taking and will be disclosed shortly.  Enjoy:

  193325846 Pershing Square December 2013 Investor Letter by ValueWalk.com

Contrarian - John Templeton Documentary

Bloomberg recently aired the documentary - Contrarian which is about the life of John Templeton.  Enjoy:

Jim Chanos on CNBC talking about new short opportunities

Jim Chanos was recently on CNBC talking about the new opportunities he sees in the market for meaningful downside.  He thinks serial acquirers who aren't growing organically are a good target for shorting.  He wouldn't name names bud alluded that the biotech industry was particularly rife with this problem - makes me wonder if he is short Endo Health Solutions (ENDP) or Valeant Pharmaceuticals (VRX) which would be bold since that is a favorite among many hedge fund managers. Enjoy:

Jim Chanos on CNBC

Jim Chanos was on CNBC talking about why he is still short China and thinks that CAT will be impacted along with hard commodities by poor Chinese demand:

James Dinan on CNBC Part 5

Jamie Dinan of York Capital was on CNBC talking why he is long shippers and has even gone so far as to purchase ships and the equity of the publicly traded shippers for his fund.  The Baltic Dry was up over 100% last month and he thinks ships will follow rates.

James Dinan on CNBC Part 4

Jamie Dinan of York Capital was on CNBC discussing his bullish view on the airline market.  Most of the airlines still trade at something like 5x EBITDA which he thinks is too low.  Post bankruptcy the companies have learned to make money at $95 oil and he thinks the sector looks attractive going forward. He thinks its a continuing show-me story as they execute and the multiple slowly expands:

James Dinan on CNBC Part 3

Jamie Dinan was on CNBC talking about how the corporate M&A environment will stay active in 2014 and beyond and thinks that the low rate environment will continue to add fuel to the fire.