Larry Robbins is the next speaker up at this year’s Sohn Investment Conference. Larry’s Glenview Capital had a rough 2015 and 2016 but he is off to a strong start this year. According to Hedge Weekly data, the hedge fund is up 10.01% through April 21st, which puts the firm among the top performers of the year. The
Catch up on all our coverage from Sohn 2017 in this post.
Larry Robbins investment pitch below
Larry Robbins is gonna pitch 3 ideas
A year ago we talked death of active management.
Value Partners Asia ex-Japan Equity Fund has delivered a 60.7% return since its inception three years ago. In comparison, the MSCI All Counties Asia (ex-Japan) index has returned just 34% over the same period. The fund, which targets what it calls the best-in-class companies in "growth-like" areas of the market, such as information technology and Read More
Economy not doing well we should monitor.
No one likes mergers anymore. A lot of stocks get stuck in deal purgatory.
LIKES FMC, QUINTILES and DXC TECHNOLOGY
Larry Robbins apologizes that all three stocks are on their highs.
CSC trades at low EBITDA great leadership like Buffett says
DXC 135% earnings accretion from sales its like what PE guys do – they had too much …
Stock earnings power has soared so stock should double. Its a cooler company now – something about how kids also like cool stuff.
Most optimization will come from high cost places in US to rural places, not from outsourcing to outside the USA.
DXC still 14% at current multiple of 10 but 14x will be 36% CAGR
FMC bought businesses DuPont needed to divest so they got great deal.
They were good before DuPont purchase thought they were 2x as growth story.
Last one Quintle IMS was 17-18x multiple before merger. Both were growing 11-15%. Synergies should grow faster as a combinded company
Both companies bought back stock so management believes in the combined entity? – upside of 36 IRR
Blue sky case multiple of 20x and silly and strong returns.
Larry Robbins ends off announcing that he is donating an extra $1M to Sohn Conference in 2017.