Top Hedge Fund Managers at Ira Sohn Investment Conference

//Top Hedge Fund Managers at Ira Sohn Investment Conference

Top Hedge Fund Managers at Ira Sohn Investment Conference

Hedge Fund Elite Gathered at Lincoln Center for 17th annual Ira Sohn Conference

At Ira Sohn, Ackman defended JC Penney and put his chips on Ron Johnson

The World’s Top Hedge Funders Presented Their Top Pics Today
Investors are gathering at Lincoln Center in New York City today for the highly-anticipated 17th annual Ira Sohn Investment Conference where top hedge fund managers will share their investment views and picks.
Today’s conference lineup includes Bill Ackman, Dwight Anderson, Dan Ariely, David Einhorn, bond god Jeffrey Gundlach, Jonathan Kolatch, Philippe Laffont, John Lykouretzos, Steve Mandel, Larry Robbins, Kenneth Rogoff, John Wilder and Meryl Witmer.
Closely-followed hedge fund manager John Paulson, who famously bet against the subprime housing market, will make his debut appearance at the conference today.
We will be live-blogging throughout the event, so be sure to refresh this page for updates.

12:35 — Larry Robbins
12:50 — Jonathan Kolatch
1:05: Dwight Anderson
1:20 — Meryl Witmer
1:35 — Rockefeller University – Marc Tessier-Lavigne and Sandy Simon
1:50 — Intermission
2:20 — Philippe Laffont
2:35 — John Wilder
2:50 — Jeffrey Gundlach
3:05 — David Einhorn

David Einhorn of Greenlight Capital presented some interesting ideas, such as Amazon’s profitless revenues being a riddle, buying Apple to benefit from their sales to Chinese consumers (he suggested it could be a trillion dollar company), and the weak position of U.S. Steel.
Speaking about Apple, Einhorn considered it one of the most misunderstood stocks out there, despite being very widely held.  Greenlight’s founder made the point that Apple isn’t a hardware company, rather it’s a software company that lodges its operating system and products in a high-margin device.  To use Apple’s iOS, iTunes, App store, and the rest one has to buy an Apple product.
3:20 — Michael Price and The Sohn Investment Contest Winner
3:40 — Companions in Courage – Pat LaFontaine
3:55 — Intermission
4:30 — Dan Ariely
4:45 — Stephen Mandel
5:00 — John Paulson
5:15 — John Lykouretzos
5:30 — Bill Ackman

At Ira Sohn, Bill Ackman Defends JC Penney, Pins Hope On New CEO Ron Johnson
Giving the closing speech at Wednesday’s Ira Sohn Conference, Pershing Square’s Bill Ackman defended his massive investment in J.C. Penney.  Calling it a “contrarian” idea, Ackman noted that J.C. Penney’s weaknesses are the stock’s greatest opportunity, as shares in the department store suffered their biggest loss in 40 years after missing expectations in their latest earnings.

5:45 — Closing remarks


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