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Bailey McCann, Opalesque New York:

A handful of unlikely opportunities were in the investment spotlight during a panel today at the Skybridge Alternatives Conference, currently underway in Las Vegas. Panelists included - Hayman Capital Management's Kyle Bass; Passport Capital's John Burbank; Kynikos Associates Jim Chanos; Omega Advisors Leon Cooperman, and Hunter Peak Investments Michael Karsch.

While Cooperman kept his picks to somewhat predictable stocks like Google, he was followed by Jim Chanos who took the opportunity to call out Royal Dutch Shell and the oil industry in general as having significant issues. Chanos is short both Royal Dutch Shell and Chevron. He said that the Shell/BG deal won't be a savior for the company, and that any involvement with Petrobras would be worrisome. "Petrobras has issues," Chanos said. "They are corrupt."

Kyle Bass followed Chanos with a passionate riff on pharma investing and most specifically going after drugs that are being treated by the industry as though they are new but should have rolled off patent years ago. He cited the Epipen as one example of this noting that the drug, which provides immediate relief in the event of an allergic reaction has been off patent since the 1950s, but the Epipen remains the dominant delivery mechanism and the price goes up twice a year. "Epipen's have gone from around $70 dollars to over $400," he said.

"We have no problem supporting truly innovative drug patents and......................

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