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Ira Sohn Conference 2016: The Live Blog

Ira Sohn Conference 2016: The Live Blog
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Ira Sohn 2016 is minutes away from kicking off; the event is scheduled to begin at noon EDT.

To see a full schedule, click here.

Tune in here to find updates as Benzinga reporters receive them live at the event. Or visit #sohn2016 on Twitter to get the unfiltered feed from everyone on Twitter.

Times below are in Eastern.

5:55pm Conference has come to a conclusion.

5:45pm Chanos On MTN Group Short: Lots Of Competition, 62% Of Rev. Comes From S. Africa And Nigeria

5:43pm Jim Chanos Short MTN Group Ltd (ADR) (OTC: MTNOY)

5:39pm Jim Chanos Talking About A Mining Company Hurt By Commodities Crunch, Has Not Unveiled Name Of Co.

5:38pm Jim Chanos Now On Stage At Sohn, Talking Mining Boom And Bust In Sub Saharan Africa; Highlights A Mining Company

5:32pm GM Shares Up ~1.7% After-Hours Amid Positive Einhorn Comments At Sohn

5:30pm Einhorn Sees More GM Share Buybacks Coming, Says EPS Can Hit $5.00

5:27pm Einhorn Now Talking General Motors Company (NYSE: GM), Says Co. 'Financially Healthy'

5:26pm Einhorn: Caterpillar Will Trade At Half Current Price

5:25pm Einhorn: We Don't Think Caterpillar Will Hit Bottom Until 2018, Foresees $2.00 Annual EPS Then (BZ Note: Caterpillar TTM diluted EPS currently at $3.50/share)

5:23pm Einhorn Highlights Caterpillar Rail Business, Says It's 20% Of Revenue And Has More Downside

5:21pm Einhorn Says Some Caterpillar Equipment Standing Idle Due To Low Oil Prices

5:20pm Einhorn On Caterpillar, Believes Resource Rev. Will Fall Further And Recover Less Than Wall St. Expects

5:19pm Caterpillar Shares Volatile Amid Einhorn Presentation, Down ~1.3% After-Hours

5:17pm Einhorn Discussing Caterpillar, Says Coal Industry Faces Bankruptcy

5:15pm Einhorn: Market Thinks Caterpillar Inc. (NYSE: CAT) Business Is At A Bottom; Presentation Language Suggests May Be Short, Not Confirmed

5:14pm David Einhorn Walks On Stage At Sohn Conference

4:54pmFisher done with presentation. David Einhorn of Greenlight Capital up next.

4:45pm Fisher thinks the market is way too optimistic about Europe's future. Says Germans will never allow a stimulus.

4:38pm Adam Fisher says one trade idea is to go long European rates, short Japanese rates. Says the world won't work without debt.

4:33pm Idea contest winner finished. Adam Fisher up next.

4:27pm Sohn idea contest winner is unveiled: Student short thesis on DexCom, Inc. (NASDAQ: DXCM). Winner says key catalyst to DexCom short thesis is a future revenue miss. Shares fall 2% on presentation.

4:09pm Schreiber adds that the electric vehicle is a risk to the Saudi economy long-term. Says as the U.S. has become more energy independent it has become less attractive to guarantee Saudi security.

4:01pm Zach Schreiber takes stage. Says we've reached the "end" of the bull market, adds he likes the long USD/short Saudi real trade.

3:27pm Gundlach off. Break for 30 minutes.


Gundlach says utilities are low risk.

3:19pm Gundlach says Mortgage REITs have stable P/Es.

3:18pmGundlach says to sell the utility index and go long mortgage REITs.

3:11pm Gundlach takes stage. Says "Yen has taken off like a scalded dog on the upside."

2:57pm Jeff Gundlach is up next in ~10 minutes.

2:55pmHe says his largest currency allocation is gold. Done presenting.

2:45pm Druckenmiller says Fed raising odds of tail risk they are attempting to avoid.

2:42pm Duquesne's Druckenmiller says Fed has borrowed more from future consumption than ever before, says this is the least dependent Fed in history. He's warning against a "radical" dovish Fed.

2:33pm VR Capital done presenting. Stan Druckenmiller is next.

2:20pm VR Capital likes Greek bank stocks.

2:17pm Smith says Westrock worth $71/share by end of next year, concludes presentation.

2:11pm Smith says Westrock (NYSE: WRK) is a defensive company and is undervalued; adds dividend has room to increase.

2:08pm Smith says Depomed is substantially undervalued.

2:07pm Smith says Depomed did not engage with Horizon Pharma (NASDAQ: HZNP), took highly aggressive 10% poison pill.

2:05pm Smith says Depomed management wants more M&A, has attractive assets, adds Depomed is attractive to strategic acquirers.

1:59pm Starboard's Jeff Smith talking Depomed (NASDAQ: DEPO) on stage, says company has lack of experience in Phase 3 trials.

1:18pm Sohn on a break.

1:14pm Palihapitiya says Amazon turned $18B cost into $200B value.

1:11pm He adds Amazon will be $1.5 trillion business by 2025.

1:09pm Social Capital's Chamath Palihapitiya says Bezos continues to disrupt market.

1:03pm Social Capital's Chamath Palihapitiya talking, Inc. (NASDAQ: AMZN), says he's extremely confident in Prime. Says Facebook and Twitter can't build same infrastructure.

1:00pm Social Capital's Chamath Palihapitiya presenting now.

12:56pm Khourney says Hyatt worth $79, adds drivers of growth are adding hotels to system.

12:55pm Long Pond's Khoury highlighting comments from Warren Buffett that an ideal business is one that takes no capital but grows, hinting Hyatt does this.

12:54pm Chanos says SolarCity gets into financial trouble by 2018. Says he made a mistake covering Sunedison Inc (NYSE: SUNE).

12:53pm Chanos on Tesla: "I think they will definitely need to raise capital."

12:49pm Jim Chanos says he's short Tesla Motors Inc (NASDAQ: TSLA) and SolarCity Corp (NASDAQ: SCTY).

12:46pm Long Pond Capital's John Khoury at Ira Sohn Discussing Hyatt Hotels Corporation (NYSE: H), sees 65% upside.

12:42pm Long Pond's John Khoury next up to present.

12:40pm Waters sees bank taking losses on unfinished projects.

12:39pm Block says Bank of the Ozarks will take losses via large bets, doesn't require personal guarantee from developers.

12:37pm Chanos says investors are valuing Cheniere on a "hoped for" income stream.

12:34pm Block calls Bank of the Ozarks business model "ass backwards."

12:33pm Chanos talking Cheniere Energy, Inc. (NYSE: LNG) on CNBC now, discussing bear case.

12:29pm Block talking Bank Of The Ozarks Inc (NASDAQ: OZRK). Stock down 10 percent. Block says bank has $6.3 billion unfunded off balance sheet, adds it can come under severe pressure.

12:27pm Carson Block takes stage.

12:24pm Larry Robbins discussing Anthem/CIGNA deal, said merger likely to go through. "Even if the deal doesn't close the stock still goes higher.

12:23pm Glenview's Robbins says even if Anthem (NYSE: ANTM) deal doesn't close, stock will go up; believes market pricing in 1/3 chance merger closes.

12:21pm Valeant shares fall as Kynikos' Chanos says he's still short Valeant Pharmaceuticals Intl Inc (NYSE: VRX).

12:15pm Larry Robbins discussed Thermo Fisher Scientific Inc. (NYSE: TMO), said he's been in the name for 13 years. Called the stock volatile but with "boring and stable" fundamentals.

12:09pm Behind the scenes at Ira Sohn, Kynikos' Jim Chanos tells CNBC's Scott Wapner he is still short Alibaba Group Holding Ltd (NYSE: BABA) shares.

12:08pm: Robbins says he won't have anything action to discuss in his presentation, instead will focus on "The Benefits of Hanging On."

12:05pm: Glenview's Larry Robbins taking the stage as first presenter at Ira Sohn.

Posted-In: Carson Block Jim Chanos Kynikos CapitalNews Short Sellers Events Trading Ideas Best of Benzinga


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