Capitalize For Kids Investment 2017 Conference notes - please note this is not a verbatim transcript, it is written EXTREMELY informally and there are parts where we missed some of the topics and might have mis-interpreted some pitches - these notes are for information only. Full document embedded at bottom in PDF.
[klarman]
David Einhorn
Mike Quin
Samantha Greenberg short
Prem Watsa short
Jimmy Levin 0Z MGMT
Blair Levinsky-Waratah Capital
Credit Panel
Steve Eisman Eisman Group
Jeff Smith Starboard Value
John Wison (nine point partners)
Menes Chee Blackstone
Chilton Investment Company
Dan Dreyfus-3G Capital
Brandon Osten Venator
Suvretta UniCredit
Jiff Olin Vision Capital
David Einhorn
Buying now
1. Not top down investors rather bottom up investors
2. There are lot of cheap stock but they might not trade higher
3. Last 8 years values has underperformed but still have great long term trade record
4. Middle has historical range in terms of net loss
5. Sticking with the process but not changing with the scenery
6. Individual investment “Why we are mostly wrong with want to break even
7. Big mistakes” why we think were wrong “Still fighting”
8. Catastrophic losses came from not understanding the business.
9. Typical investor is looking for 6-12 month
10. There are is still a thing
11. If the down size is dead money then you are in a good position
12. Shorting, do not short solely on valuation need catalyst
Bubble Basket
(Look at the financials, without the story)
1. Stocks which were 46-50 now 15-20
2. Short stocks with massive downsizing like
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