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Bailey McCann, Opalesque New York: Hedge fund managers offered up their top picks at today’s Sohn Conference held in New York. Earlier in the day, Greenlight’s David Einhorn; JANA Partners' Rosenstein; Corvex's Keith Meister, and Omega Advisors' Leon Cooperman all took the stage. Their picks included Walgreen’s Boots Alliance, YUM! Brands, and Actavis to name a few. (See our earlier coverage here.)
Later in the afternoon, Glenview’s Larry Robbins took the stage offering AbbVie and Brookdale Senior Living as top ideas. Robbins said AbbVie was "cheap" and that the pipeline for AbbVie is "under appreciated," even as Humira nears expiration.
On Brookdale, Robbins says that the aging population is "by far the easiest thing to bet on," and supports the company’s plan to improve its locations.
Mala Gaonkar, co-portfolio manager at Lone Pine Capital took the stage to make the case for the firm’s position in Microsoft. She cited the company’s market share and market opportunity in enterprise computing, cloud, and data centers pointing to Microsoft’s Azure platform and the "value that’s hidden in legacy technology." She called Microsoft a super tanker saying it make take time to turn, "but turn it will."
Jeffrey Gundlach used artists Mondrian and Escher to stake out his various investment theses, issuing a warning about high-yield bonds and fed...................... To view our full article Click here
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