At today’s Ira Sohn Conference in London, some of the world’s leading hedge fund managers will lay out their picks for the best and worst stocks in the current marketplace. We also covered the 2013 Invest For Kids Conference with notes from Leon Cooperman, Steve Eisman, Jeff Gundlach, Marc Lasry, Steven Kuhn Nelson Peltz, Rick Rieder, Dinakar Singh, Sam Zell, and Stephan White. ValueWalk also notes from the Great Investors’ Best Ideas (GIBI) Investment Symposium in Dallas. Stay tuned for out notes from the recent Buttonwood conference.
Below readers can find out full wrap up from the London Sohn Conference today.
Background
The Sohn Conference Foundation is dedicated to the treatment and cure of pediatric cancer. The Foundation supports cutting-edge medical research, state-of-the-art research equipment, and innovative programs to ensure children with cancer survive and thrive.
The Foundation honors the memory of Ira Sohn, a talented Wall Street professional whose life was cut short when he passed away from cancer at the age of 29. In 1995, Ira’s colleagues and friends Douglas Hirsch, Lance Laifer and Daniel Nir, along with Ira’s mother Judith Sohn and brother Evan, created the Ira Sohn Research Conference, now called The Sohn Investment Conference.
Ira Sohn London Conference Speakers
Chris Hohn, The Children’s Investment Fund
Global duopoly with The Boeing Company (NYSE:BA). 8-9 yr order backlog. Never been properly managed. New CEO is aggressive. During the past few years the company has been aggressively chasing market share from Boeing, now stands at 50% share, actually more like 60% – 40% in the narrow body segment, in Airbus’s favor.
See full coverage here.
Julian Sinclair, Talisman Global Asset Management Limited
Around 80% of Tata Motors Limited (ADR) (NYSE:TTM) is Jaguar Range Rover. The Jaguar Range Rover brand is worth around $17 billion alone, around the same as Tata’s market cap. Jaguar Range Rover business is only trading at 6 times earnings. Jaguar Range Rover is one of the four great German car brands.
See full coverage here.
Nicolai Tangen, AKO Capital
Strong market position, margins and free cash flow. Largest and only global credit bureau, credit analytics. 5-10% organic top line growth expected. 700 bps margin growth during last six years. Free cash flow conversion ratio of 100% since listing. Company is miss understood as there are fee comparable.
See full coverage here.
Andrew Weiss, Weiss Asset Management
Stocks are cheap compared to similar markets. Growth prospects, six times more graduates entering the work market than leaving. The best numeracy and literacy test scores of developed nations. Well developed infrastructure. Debt to GDP is 36%, less than 8% if you net out FX reserves and gold. Budget surplus for the past ten years. North Korea benefits the South Korea due to cheap labor within enterprise zones.
See full coverage here.
John Armitage, Egerton Capital
Low-risk stock enjoys a leading position in the Nordic region. No 1 or 2 bank in every country within Scandinavia. Banking peer Sampoo brought 21% of Nordea Bank AB (STO:NDA-SEK) and controls a large part of the company. Sampoo likes boring, boring is good, has achieved great returns during the past few years, low income volatility. Now imposing the same upon Nordea.
See full coverage here.
Ross Turner, Pelham Capital
Market share 18% of the UK’s total oil distribution – lots of room for growth. Bolt-on acquisitions creating value through highly fragmented industry. Many small players family owned, small acquisitions over brought out for low cost to family nature. 18% return on capital achieved. Costs synergies as network builds. Recently brought out BP plc (NYSE:BP) (LON:BP)’s UK LPG business for £40 mil.
See full coverage here.
Mala Gaonkar, Lone Pine Capital LLC
High viability in revenue stream, strong patent portfolio and competitors are investing less. Has many more patents and developed technology than its peers. Growth of the machine-to-machine internet communication business will drive growth in the data transmission sector. QUALCOMM, Inc. (NASDAQ:QCOM) has 97% of the LTE business. Royalties are 70% of earnings.
See full coverage here.
Masroor Siddiqui, Naya Management LLP
European company but only 25% of sales are within Europe. Luxury company, most of sales from footwear. Emerging market growth of luxury goods. Low single-digit sales growth expected 12-15. Underpriced vs. peers such as Burberry historically, plenty of room for growth by raising prices. Margins are key. Margins are significantly below peers predicting EBITDA margins of more than 20% during 2015.
See full coverage here.
Eashwar Viswanathan Krishnan, Tybourne Capital Management Trade
PT Media Nusantara Citra TBK (OTCMKTS:PTMEY) has 42% of Indonesia’s prime-time audience and owns the country’s number one channel, which has held this position since 1989. Valuation is depressed due to macro uncertainty and litigation.
See full coverage here.
