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Top hedge fund managers recommend longs and shorts at annual charity event.
The 22nd annual Sohn Investment Conference yesterday featured seventeen investment managers, two celebrity appearances, and one bright university junior taking the stage at the Lincoln Center in New York City.
Managers presented their best investment ideas for the coming year in between presentations by various medical organizations that have been helped by the Sohn Conference Foundation, which raises money for pediatric cancer research in honor of Ira Sohn, a Wall Street professional who died of cancer at the age of 29.
The auditorium was well populated as managers pitched their long or short positions. The day's presentations began with a short cameo from Stanley Druckenmiller who poked fun at his pick last year to buy gold and sell stocks. Later David Einhorn pitched shorting Core Laboratories peppering his presentation with cartoons and Debra Fine urged attendees to invest in the Teletubbies... or rather, in the company that owns the franchise.
See the complete list of ideas below (in order of presentation):
Manager
Idea
Thesis
| Keith Meister, managing partner and CIO of Corvex Management | Long CenturyLink (CTL) | Meister sees CTL as a "credit investment with equity upside" due to its high dividend payouts, which should become more secure with the merger. Corvex filed a 13D in the company yesterday showing a close to 5.5% stake, and Meister hopes to eventually install Level 3 CEO Jeff Storey as head of the combined company. |
| Debra Fine, founder and president of Fine Capital Partners | Long DHX Media (DHX) | Children's content is more universal than adult content and has a quicker "refresh cycle," meaning it is able to adapt to changes arising from the dominance of online video. DHX has prudently been buying "dead"... |