Golman Sachs Basic Materials Conference - June 2, 2010
June 2, 2010
I do not know if ABWTQ will be presenting, but some of their Direct Competition will be (presumably to make strides for New Investment).
It will be pretty hard for their competition not to sing the praises of the Medium and Longer-Term Fundamentals.
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Note : my comments last night re: the NEW HEDGE FUND Strategy of "BUY TIMBER" (see again below).
....
We’re talking about the hedge fund managers who attended this year’s Ira Sohn conference.
It’s a charity event in which top hedge fund managers reveal their best trading ideas.
In the past, some of the information has been almost prophetic, according to the Wall Street Journal. It was at this same event in 2008 that David Einhorn said he was bearish on Lehman Brothers.
And one year earlier at this same event Bill Ackman said MBIA and Ambac would be hurt by the subprime mortgage crisis.
What's noteworthy this year?
Value investor Jeremy Grantham says bonds are "grotesquely" overvalued and your best bets are timber and emerging markets and blue chips, reveals host Melissa Lee.
(Grantham is the Chairman of the Board of Grantham Mayo Van Otterloo, a Boston based asset management firm well known among institutional investors.)
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If hedge funds now say buy timer assets, then the hedge funds / bondholders of ABWTQ are shooting themselves in the foot.
