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Market Overview

A Quick-And-Easy Guide To All The Calls At Ira Sohn 2016


Wall Street was abuzz Wednesday as traders digested the top picks from some of the country's most prominent money managers.

The Ira Sohn New York Conference had market players and media alike flocking to the city's David Geffen Hall in the Lincoln Center for an annual meeting of some of the most esteemed investment minds.

At the heart of the event is The Sohn Conference Foundation, which "is dedicated to supporting innovative initiatives to cure and treat pediatric cancer."

New York City is just one stop on the map for the Foundation's efforts. Visit to see all the events, including conferences in Hong Kong, India, Tel Aviv and London.

As the event can be quite the whirlwind of market-moving investment and trading ideas, Benzinga has wrapped up some of the most interesting ideas and market reactions.

  • Larry Robins, Glenview Capital - Refrained from discussing what he called "anything actionable," and instead highlighted some of his already-known favorite long picks: CBS Corporation (NYSE: CBS), Flextronics International Ltd. (NASDAQ: FLEX), Laboratory Corp. of America Holdings (NYSE: LH), Thermo Fisher Scientific Inc. (NYSE: TMO), AbbVie Inc (NYSE: ABBV), Brookdale Senior Living, Inc. (NYSE: BKD) and Anthem Inc (NYSE: ANTM) amid its deal with CIGNA Corporation (NYSE: CI).
  • Carson Block, Muddy Waters - A known and often times referred to as "infamous" short seller, Block discussed a downside idea in Bank Of The Ozarks Inc (NASDAQ: OZRK). He highlighted the company's "extreme concentration" on real estate lending and suggested it would need to raise capital this year and next.
  • John Khoury, Long Pond Capital - Hyatt Hotels Corporation (NYSE: H) was the sole idea Khoury discussed, calling the company "a high quality name in the hotel sector" -- a sector which he described as "out of favor as an asset class." Shares of Hyatt rallied about 3 percent amid Khoury's call.
  • Jeffrey Smith, Starboard - Smith talked long ideas in Depomed Inc (NASDAQ: DEPO) and WestRock Co (NYSE: WRK). He suggested Westrock shares could hit $71 by the end of 2017; the stock closed Wednesday down 1.5 percent at $38.95.
  • Jeffrey Gundlach, Doubleline Capital - Gundlach stayed broader, but did offer a couple ETF picks: iShares FTSE NAREIT Mortgage ETF (NYSE: REM) as a long and Utilities SPDR ETF (NYSE: XLU) as a short.
  • David Einhorn, Greenlight Capital - Consistently one of the headliners of the Sohn event in years past, Einhorn outlined a concerning picture for Caterpillar Inc. (NYSE: CAT) and a rosier one for General Motors Company (NYSE: GM).
  • Jim Chanos, Kynikos - Chanos best comments came out not on the main Sohn stage, but at a behind-the-scenes interview with a team of CNBC anchors. Chanos disclosed he is still shorting shares of Alibaba Group Holding Ltd (NYSE: BABA) and considered the bear case in shares of Cheniere Energy, Inc. (NYSE: LNG).

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