Sohn Conference Picks Disappointing

May 3, 2016 James Heinsman In the News

The Sohn Investment Conference is one of the year’s most respected conference for the

Portrait of David Einhorn courtesy of Insider Monkey

Portrait of David Einhorn courtesy of Insider Monkey

hedge fund investor and wannabes. Fund managers of means come to support a charity and share their predictions for the coming year. However, it seems the crystal balls from last year were not operating at peak performance, with only two of the managers picking winners. And even those investors with winners were underwhelmed by the losers they also picked.

Here is a brief run-down of how our most respected hedge fund gurus made out since last year’s Sohn Conference:

David Einhorn of Greenlight Capital- Going bearish, Einhorn picked Pioneer Natural Resources Co, a fracking company. It did OK, trading at about 2 percent less since Einhorn’s call. Too bad Pioneer was his main bet rather than one of his other calls, such as Whitling Pertoleum which lost 70 percent of its value since last year.

Keith Meitster of Corvex got one right and one not so right. He predicted that Yum! Brands Inc, would eject its China business, and they did. Unfortunately, it did nothing ot improve the share price, which is lower now than when he made the call.

Leon Cooperman made some good picks_ Alphabet Inc is up 29 percent, Dow Chemicals is up 2 percent, and Priceline is up 6 percent. Unfortunately, some of his other picks did not fare as well, with one of them down 90 percent. (Gulf Coast Ultra Deep.) His total winnings were 0.54 percent. Better than losing, we guess.

David Einhorn, Keith Meister, Leon Cooperman, Sohn Investment Conference,

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