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Moving Markets: Top Stock Picks from Leading Investment Managers
Omeed Malik (Moderator)
Managing Director & Head of US Prime Brokerage Distribution, Bank of America Merrill Lynch
Kyle Bass
Chief Investment Officer, Hayman Capital Management
John Burbank III
Founder & Chief Investment Officer, Passport Capital
James Chanos
Founder & President, Kynikos Associates LP
Leon Cooperman
Founder, Chairman & Chief Executive Officer, Omega Advisors, Inc.
Michael Karsch
Founder & Chief Executive Officer, Hunter Peak Investments
Notes from SALT Conference 2015 – Moving Markets: Top Stock Picks from Leading Investment Managers
Leon Cooperman
Expect positive returns 7-9% for 2015
$125 eps market estimate
Expect rising interest rates
Continued earnings growth
OK valuations
Continued monetary friendliness
You can’t predict geopolitical events
Bear markets are not borne out of macro thoughts
Peaks on market average 30 months after the first rate hike
Outsized gains for the stock market are behind us
Fed funds minus GDP is sitting around 400 (slide 12)
10 year should back to 4%
Bonds are very unattractive
Leon Cooperman – Ideas:
ACT
AER
C
DOW
GM
GOOGL
PCLN
Leon Cooperman – Cigar butt stock
GULTU
Jim Chanos
Short