Activist billionaire investor Carl Icahn discusses the upcoming Dell vote and his feelings about the company’s board, which is one of the worst he’s ever seen. He also has some insights on some other companies including Herbalife. Check back later (we will hopefully) have the entire video here. Lots of humor throughout the interview.
Update: 6:30 PM EST: we added some video segments from the video as well as a partial transcript, see below.
Carl Icahn video embedded below
Quant ESG With PanAgora Asset Management’s George Mussalli
ValueWalk's Raul Panganiban interviews George Mussalli, Chief Investment Officer and Head of Equity Research at PanAgora Asset Management. In this epispode, they discuss quant ESG as well as PanAgora’s unique approach to it. The following is a computer generated transcript and may contain some errors. Q3 2020 hedge fund letters, conferences and more Interview . Read More
stay tuned. we are listening to carl icahn here at the delivering alpha conference at the pierre hotel in new york city. he touched on many topics, a lot of positions that he holds. some of the highlights, netflix, i have not sold a single share which seems almost shocking considering where the stock has gone. he admitted himself he would have sold at $100. i think it’s the trade is still alive. it’s clearly a more difficult trade now. don’t be surprised if when they release next week you see another crazy move to the upside stock. nothing wrong if you are long getting out a portion of it. nothing like ebay today ahead of that release but the story is still intact. classic carl as we mentioned before using some language for which we might actually get fined by the fcc. he talked about herbal life and when it comes to ackman he says i’m like anybody who makes me a quarter of a billion dollars. a lot of people for him to like. herbal life is one that i just cannot see playing from the short side even if you are convinced that the valuation just isn’t there. the potential for some terrible event, terrible squeeze, the mother of all squeezes as he calls it, is just too expensive. when it comes to dell he actually said that he doesn’t know if michael dell will raise the bid but he sort of hopes that he ends up owning the whole company. i’m not certain of that. dell to me, 13 and change is where it’s trieding, it’s sort of — again i don’t think it’s worth a look right now. it’s more of a trophy piece for him. i don’t think he’s that fully committed. kay kelly has been here all day. nelson peltz, john paulson, top hedge fund managers you rarely here from spoke today. headlines from them. john paulson this was his first television appearance. he was interviewed live during the luncheon. he had a bunch of interesting points but what i honed in on was he’ very bullish residential housing. he himself has been a huge buyer of residential properties in the dessert states mostly through a private equity fund. i think we have sound on him talking about the current scenario. housing starts from 50 percent from the trou. that’s creating a lot of excitement. however, the peek was 1.8 million. we estimate you need about 1.2 million new single family homes per year to meet population growth and replacement demand in the u.s. while we’re up 50% for the lows, we’re still only half, we believe, is the long term trade. in other words, that’s a trade that other people can get in on because there’s room to run. on dupont he acknowledged that he had a large stake in them. this was news as of today. it really sent the stock soaring. he released a 59 page white paper on his plan for pepsi co. he things theyd buy the business mond lays and turn them into a food maker. if not get rid of the troubled soft drink business and try to generate better returns and be more in line with customer tastes in a way more focused on food than sugaryverages. housing real quickly, he’s as committed on the long side of housing now as he was on the short side. he said his conviction level is equal. but home depot has clearly been the way that i would play it. lumber liquidators, next week big short interest in that name. the stock has pulled back before. ll is an interesting trade here. he mentioned real gee and now the thing that i like about it is you can continue to play the housing recovery without having to work about the refi business going down. it’s the number of houses sold times the commission. he also talked about gold obviously. john paulson said gold is a small point of his portfolio. he feels that his setbacks in gold have created a distraction from the other things that he’s doing. his merger funds are doing terrifically. gold has been a good, bad story for him. he got in at 900. he has upside from where he started but perhaps should have sold out at the top at 1900 two years ago. easy to say now. gold is easy to get in when everybody is entering the trade but when everybody starts to get out it’s a much different scenario not like trying to get out of city field last night when everybody is trying to get out. everybody is a gentleman going in, not so much going out. let’s get a check on big after hours mover here on earnings. let’s go to josh lipton. we’re watching ebay reporting after the bell. eps of 63 cents which was in line. revenue comes in $3.88 billion. guidance for the third quarter and the full year clocks in below estimates. the ceo warning saying macro economic headwinds in europe and korea will continue to be a challenge in the second half of the year. melissa back to you. it is those warnings about the macro economic headwinds in emerging markets that is really — we said be careful about this 58 level, 2004 high, watch out. get out of your position. here it is low. first move tomorrow when we