Jonathon Jacobson Ira Sohn Conference [LIVE]VW Staff
Jonathon Jacobson Ira Sohn coverage brought to you by ValueWalk.
Jonathon Jacobson is the Founder, Chief Investment Officer and Chief Executive Officer of Highfields Capital Management LP, an $11 billion Boston-based investment management firm established in July 1998. Prior to founding Highfields, Jonathon Jacobson spent eight years as a senior equity portfolio manager at Harvard Management Company, Inc., which is responsible for investing Harvard University’s endowment.
Jonathon Jacobson currently serves as a Director of Clear Channel Media Holdings, Inc. He is also a past member of the Asset Managers’ Committee of the President’s Working Group on Financial Markets, formed in 2007 to foster a dialogue with Federal Reserve Board and Department of the Treasury on issues of significance to the investment history.
You can always come visit the site frequently to find the latest. Other (and easier options include) following us on Google+, Linkedin, Twitter, Facebook, RSS, where we will be posting live coverage. You can also sign up for our newsletter to get coverage of the event at 3PM EST (make sure to select business and daily under the options).
Check out below to see our live coverage.
Jonathon Jacobson Ira Sohn Conference Live
5:10 PM EST: Jacobson is up next. He used to manage Harvard’s investments, and now he’s in charge of Highfields Capital Management LP.
5:15 PM EST: Jacobson is about to outline a short. It’s going to be difficult to follow Chanos.
5:15 PM EST: The last time Jacobson talked about a short it was Enron, this could be good.
5:17 PM EST: Jacobson is telling the Ira Sohn to beware AT&T Inc. (NYSE:T). All dividends are not created equal.
5:18 PM EST: Beware AT&T Inc. (NYSE:T). A big T flashes behind Jacobson.
5:19 PM EST: Jacobson also tells everyone to beware Linn Energy LLC (NYSE:LNN).
5:20 PM EST: Digital Realty Trust Inc. (NYSE:DLR) is a melting ice cube says Jacobson.
5:20 PM EST: Digital Realty Trust Inc. (NYSE:DLR) is a REIT with a market cap of over $10 billion. Shares have dropped almost 5% after market.
5:22 PM EST: Price Target $20 on Digital Realty Trust Inc. (NYSE:DLR). Stock closed at $69 today. Short interest on float is around 13%.
5:23 PM EST: Digital Realty Trust Inc. (NYSE:DLR) dividend not sustainable, no moat, capex keeps going higher. Stock down 7% now.
5:24 PM EST: Competition coming in from Google Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT).
5:27 PM EST: Recurring capex looks like $413 million to Jacobson. Digital Realty Trust Inc. (NYSE:DLR) share recovered slightly, down 5.8% now.
5:29 PM EST: Bottom line from Jacobson Digital Realty Trust Inc. (NYSE:DLR) can’t pay dividends.