Here’s the Market Reaction to Those Sohn Investment Ideas
ByMayweather vs. Pacquiao may have grabbed the limelight as the “fight of the century,” but the heavy hitters of finance are duking it out today at the annual Sohn Investment Conference in New York. At the industry confab, some of the world’s biggest hedge fund titans share investment ideas, generating headlines and sometimes moving markets. Here’s a roundup of select fund managers and their market-impact “scores.”
David Einhorn, the poker-playing president of Greenlight Capital, burned some shale stocks down after slamming the fracking industry as wasteful, expensive, and a terrible investment. Shale explorers, including Pioneer Natural Resources and EOG Resources, dropped as much as 5.28 percent and 0.35 percent, respectively, following Einhorn’s Sohn remarks. Pioneer ended the day down 1.88 percent, at $168.30, while EOG managed to recover somewhat, gaining 0.50 percent to close at $99.43. As always, Einhorn’s presentation had some nifty charts. You can see the whole thing over here…
