By Ben Baris
With more than 25 speakers, Wednesday’s Delivering Alpha conference at the Pierre Hotel in New York City offered attendees dozens of investment ideas and macro predictions (and some memorable one-liners from legendary corporate raider-turned-activist investor Carl Icahn). In case you missed it, here is a collection of ideas shared by managers and institutional investors:
| Manager | Recommendations/Strategies |
| Mary Callahan Erdoes, J.P. Morgan Asset Management | Every investor’s responsibility to know what’s happening in China Sitting on cash is the enemy of future returns |
| David McCormick, Bridgewater | Europe is still in trouble; potential lost decade |
| Jane Mendillo, Harvard Management Company | Harvard is invested in different asset classes in China; need to diversify risk through investments closeby (such as Australian timber) |
| Richard Perry, Perry Capital | Long Greek government bonds Short Japanese corporate bonds
Exposure to China, but not through Chinese exchanges (Hong Kong, or commodities in Japan, Australia, Europe & U.S.) |
| Gregory Fleming, Morgan Stanley Wealth Managment | Worried about U.S. rate normalization |
| Joshua Friedman, Canyon Partners | Long Ambac Likes RMBS Will continue to see loans in need of restructuring |
| Michael Hintze, CQS | Rates won’t go above 4%; if governmentt keeps buying bonds, rates could settle at 2-3% Likes B/BB-rated credit Wary of France (deficit, social stability concerns) |
| Andrew Spokes, Farallon Capital Management | European credit (not distressed) |
| Jim Chanos, Kynikos Associates | Short Caterpillar, Hewlett-Packard |
| Leon Cooperman, Omega Advisors | Long: Arbor Realty Trust Atlas Resource Partners Chimera Investment Express Scripts KKR Financial Holdings Qualcomm Qualicorp (Brazil) SandRidge Energy Thermo Fisher Scientific THL Credit |
| Chris Hohn, The Children’s Investment Fund | Long: EADS Porsche Aurizon |
| Mark Kingdon, Kingdon Capital Management | Long: Fuji Heavy (Subaru) Mazda Toyota Aegerion Pharmaceuticals |
| John Paulson, Paulson & Co. | Long: Gold Residential housing Merger arb |
| Clint Carlson, Carlson Capital | Natural-gas drilling sites, distressed levels Whiting Petroleum |
| Andrew Feldstein, BlueMountain Capital Management | Natural gas is less expensive, more abundant and cleaner |
| Gumersindo Oliveros, KAUST Investment Management Company | Natural resources as inflation protection |
| Nelson Peltz, Trian Fund Management | Long: DuPont Pepsi: A) Pepsi buys Mondelez and spins off beverage business; B) If not, Pepsi separates beverage and snack businesses |
| Jacob Gottlieb, Visium Asset Management | Healthcare IT providers Well-run hospitals |
| Kris Jenner, Rock Springs Capital | Long: Vertex Gilead Sciences Pharmacyclics |
| Larry Robbins, Gleview Capital Management | Long: Walgreens Thermo Fisher Scientific Has a $2 billion hospital portfolio |
| David Villa, State of Wisconsin Investment Board | CCC debt is “canary in a coal mine” From overweight to neutral on credit; credit hiccup within next 36 months |
| Carl Icahn, Icahn Enterprises | Long: Herbalife Dell |
Click here for Institutional Investor’s Storify coverage of the 2013 Delivering Alpha conference.
