As the Robin Hood Investors Conference closed yesterday, we have compiled a second recap of some of the best ideas that have been presented yesterday. The conference had a big impact on some stocks. For example, Dan Loeb, one of the speakers at the conference pitched Amgen, Inc. (NASDAQ:AMGN), and sent a letter to Third Point’s investors, where he also discussed the company. On the back of the news, the stock of Amgen surged in Tuesday trading.
Yesterday we have covered some of the ideas presented by David Einhorn, Tom Wagner, and Anna Nikolayevsky. These investors presented their bullish cases regarding Sunedison Inc (NYSE:SUNE), American Airlines Group Inc (NASDAQ:AAL), and EZCORP Inc (NASDAQ:EZPW). Moreover, Jim Chanos presented his bearish case against Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) saying that it is more of a scheme rather than a stock.
In this article we will continue presenting the information that have been gathered from the Robin Hood Conference. Even though, media was not allowed at the event, many major investors have been interviewed by some big outlets after the event, while some of the guests at the conference also presented some views expressed there via social networks. Among the stocks presented at the conference are VCA Inc (NASDAQ:WOOF), Community Health Systems (NYSE:CYH), Crown Castle International Corp. (NYSE:CCI), Cheniere Energy, Inc. (NYSEMKT:LNG), World Wrestling Entertainment, Inc. (NYSE:WWE), and others.
Dan Loeb Is Bullish on Amgen, Inc. (NASDAQ:AMGN)
As it has been mentioned earlier, Dan Loeb said that he is bullish on Amgen, Inc. (NASDAQ:AMGN). The manager of Third Point not only pitched the company during the conference, but also sent a letter to investors presenting the company in which Third Point owns a stake, although it was not revealed. At the end of the second quarter Third Point held a total of 450,000 shares. According to the investor, if Amgen, Inc. (NASDAQ:AMGN) decides to separate into two companies, MatureCo and GrowthCo, it would be appreciated by other shareholders as well.
Aside from Amgen, Dan Loeb also included eBay Inc (NASDAQ:EBAY) and Alibaba Group Holding Ltd (NYSE:BABA) in the list of stocks that he is bullish on.
One of the largest investors in Amgen, Inc. (NASDAQ:AMGN), is healthcare-focused fund, Orbimed Advisors, led by Samuel Isaly. Orbimed holds some 2.25 million shares of the company as of the end of June.
David Tepper Recommends Shortnening Euro
Another speech at the Robin Hood conference that sparked a lot of discussions was given by David Tepper, the manager of Appaloosa Management. Mr. Tepper recommended shorting the euro currency. According to him, the European Central Bank will have to ease the monetary policy in order to stimulate the euro zone. The Bank has already done some measures such as setting negative interest rates, although they have not helped much, which is why more measures are required. However, Tepper also said that investors can profit if they buy short-term debt from the European Union, such as 2-years or 3-years bonds.
Larry Robbins Likes VCA Inc (NASDAQ:WOOF) and Community Health Systems (NYSE:CYH)
Another speaker who presented his “Best Idea” during the conference is Larry Robbins, the head of Glenview Capital Management. Mr. Robbins also said during an interview with Bloomberg TV that housing-related companies will grow in the near future as millennials will start “growing up” and moving out from their parents’ homes and start their own families. Moreover, the manager of Glenview recommended buying several stocks, such as Community Health Systems (NYSE:CYH) and pet-services company VCA Inc (NASDAQ:WOOF), as well as stocks related to the housing business.
About Community Health Systems (NYSE:CYH), Mr. Robbins said during the interview that it is a company that has conducted many acquisitions of individual hospitals over the years, including the purchase of Health Management Associates in 2013. The acquisiton of HMA will soon pay-off in form of synergies for Community Health Systems (NYSE:CYH), which makes the stock an attractive investment at the moment. Glenview is the largest shareholder of Community Health Systems among the funds that we track, holding over 12 million shares as of the end of the second quarter.
Mr. Robbins said that he likes VCA Inc (NASDAQ:WOOF) because the number of pet hospitals has contracted during and after the financial crisis from 2008-2009 and in the last couple of years it has been moderately recovering. The investor owns a significant position in VCA Inc (NASDAQ:WOOF), which amasses some 8.8 million shares, while Ricky Sandler’s Eminence Capital holds approximately 5.2 million shares, as of the end of June. Both funds raised their exposure to the company during the second quarter, with Glenview boosting its stake by almost a five-fold, while Eminence only inched it up by 7%.
Keith Meister Bullish on Crown Castle International Corp. (NYSE:CCI)
The manager of Corvex Capital, Keith Meister, used the opportunity to speak at the conference to pitch once again one of his largest investments, Crown Castle International. Last week, Mr. Meister issued a presentation about Crown Castle International Corp. (NYSE:CCI) and sent a letter to the shareholders of the company. Corvex is a long-term investor in Crown Castle International Corp. (NYSE:CCI) and currently owns some 12.6 million shares. In the letter, Mr. Meister said that he sees a lot of potential for the stock, and stated that the company could gain 27% in equity re-rating in the near term, while the long-term potential for 15 months stands at more than 60%.
Zach Schreiber Recommends Buying Cheniere Energy, Inc. (NYSEMKT:LNG)
One of the managers of Point State Capital and a former portfolio manager at Stan Druckenmiller‘s Duquesne Capital, Zach Schreiber, recommended going long Cheniere Energy, Inc. (NYSEMKT:LNG). Cheniere is one of the top holdings in Point State’s equity portfolio as of the end of June, the stake containing 6.22 million shares, although the fund cut its position by 17% during the April-June period. Seth Klarman’s Baupost Group is also bullish on Cheniere Energy, Inc. (NYSEMKT:LNG), holding 5.99 million shares, according to its latest 13F filing.
Ricky Sandler is Bullish on Telefonica Brasil SA (ADR) (NYSE:VIV) and eBay Inc (NASDAQ:EBAY)
The manager of Eminence Capital, Ricky Sandler, did not present his investment ideas during the conference, but he did participate at a “Lightning Round” where he recommended going long Telefonica Brasil SA (ADR) (NYSE:VIV) and eBay, according to various sources. However, Eminence has not disclosed any position in Telefonica Brasil SA (ADR) (NYSE:VIV) in its 13F filings. eBay Inc (NASDAQ:EBAY), on the other hand, is one of the largest stakes in Eminence’s equity portfolio, the fund owning over 4.5 million shares as of the end of the second quarter. With so many notorious investors backing eBay ( such as, Dan Loeb and Carl Icahn), the company should be a really sweet spot for long-term retail and passive investors.
Nathaniel August Is Bearish on World Wrestling Entertainment, Inc. (NYSE:WWE)
The manager of Mangrove Partners, Nathaniel August, recommended to short the stock of World Wrestling Entertainment, Inc. (NYSE:WWE) during the conference. According to our database Mangrove does not hold any shares or options in World Wrestling Entertainment. Among the shareholders of the company are Jim Simons‘ Renaissance Technologies, which reduced its stake by over 40% during the second quarter to 1.16 million shares, and Mario Cibelli‘s Marathon Partners, which owns 1.13 million shares as of the end of June, up by 50% on the quarter.
The stock of World Wrestling Entertainment, Inc. (NYSE:WWE) lost a lot of ground in the first half of the year and currently trades 22% in red since the beginning of the year.
Paul Tudor Jones Is Bearish on Commodities
The head of Tudor Investment Corp, Paul Tudor Jones, another notorious personality in the investment world, said during the Robin HoodConference that the commodities prices are going through a rough patch with the prices declining. He also said that with the commodities moving in cycles, we are now witnessing the decline of the prices which is going to last for at least several more years.
