Sohn San Francisco Offers Predictions for Investing

October 6, 2016 James Heinsman Hedge Fund News

Chamath Palihapitiya 2016, Photo courtesy of Cmichel67.

Chamath Palihapitiya 2016, Photo courtesy of Cmichel67.

The Sohn Investment Conference’s San Francisco branch held its seventh annual meeting this week. The conference is co-sponsored with CNBC, and is not only the first cousin of the prestigious Sohn New York gathering, but also raises funds to fight pediatric cancer.

The conference opened with the “Next Wave” panel discussion in which rising stars in the hedge fund industry who have recently begun new ventures discuss their latest picks. Included as recommended bets were a languishing jewelry chain and a biotech company.

Chamath Palihapitiya, founder and CEO of Social Capital, said that he was supporting an enterprise cloud software company known as Workday.  He predicted that the $18 billion company will be worth $100 billion in ten years.

Carson Block, a short seller, said he is placing a bet against a “quite aggressive” small cap construction contractor. The company, Tutor Perini, based in Los Angeles, is headed by ex-Miramax studio investor Ronald Tutor. The market value of the company’s stock is worth $1 billion now, up more than 30 percent this year.

“From our perspective nothing has fundamentally changed from this company since it was bouncing around at $15 a share,” said Block. Tutor Perini’s stock has been selling for $22.20 a share.

Carson Block, Chamath Palihapitiya, CNBC, San Francisco, Sohn Investment Conference,

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