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2018 Sohn Conference: Mangrove, Light Street, Sachem Head, Benchmark, Greenlight And More

Over the years, the investment conference has exploded in popularity. What used to be a few high profile conferences every year has turned into several a week, which are hard to keep track of. While the economics were not straightforward, charging $2k for access and getting a few hundred attendees could mean a lot of revenue for news publications, organizers, and other businesses.  I suspect nowadays the numbers are much harder, but one thing has not changed: The Sohn Conference is still the premier and most anticipated one of the year and stocks move quickly on presentations! Additionally, Sohn can charge the same and sell-out because the money goes to an excellent cause. ValueWalk is proud to be a media partner for the 2018 Sohn Conference which takes place on Monday, April 23rd, 2018.

 

UPDATED 4/24/18 at 6PM EST

please see full notes (for subscribers) here

Premium coverage on the 2018 Sohn Conference in NY can be found here

Sohn Conference 2018 main event here

UPDATED 5:55PM EST Lots of sldies and afternoon session notes here

UPDATED at 11:15AM EST 4/23/18 – 2018 Sohn Conference Next Wave emerging managers  pitches include BRAC (Bangladesh), short risk parity/passive, Takeaway.com (Amsterdam), VNV (russia/Sweden), short Rallye (France), and long Ascendis Pharma  so far – all the notes are here!

Here is a short 101 on Sohn NextWave more in-depth at VWP

Rashmi Kwatra – Founder Sixteenth Street Capital – Kwatra believes BRAC Bank’s exposure to high growth SMEs and mortgage loans in the under-penetrated Bangladeshi market will provide outsize returns over the next decade – BRAC Bank is a growth leader in mobile payments; bKash unit is the largest mobile payment operator in the country with 75% market share; 70% of Bangladesh population is “unbanked”

Tim Garry: CIO Pelorus Jack Capital – “Something has changed, and it’s changed dramatically.” Tim Garry sees increased volatility in growth stocks an imminent momentum crash. Predicts a correction similar to Q1 2016

Alexander Captain – Cat Rock Capital’s Alexander Captain sees Takeaway.com as having the best upside among online food delivery companies around the world – Takeaway.com could be a “whale” investment over next 10 years – Has 58% Ebitda margin in its home market in the Netherlands; likely to become “dominant” market leader in Germany – Takeaway.com may be M&A target for Delivery Hero, others

Dylan Adelman (2017 SOHN Idea Contest Winner) sees an “enormous” growth runway in the online classifieds business in Russia. He recommends $VNV as a way to capture that upside.

Oleg Nodelman of EcoR1 Capital takes the stage at Next Wave. He’s pitching long on Ascendis Pharma $ASND and their growth hormone deficiency drug.   ASND’s lead growth hormone therapy worth $129/share, based upon recent premium Novartis paid for AveXis – Sees upside to $289/share

Scott Goodwin – Co Founder Diameter Capital Partners, sees “creative” financial engineering, cash burn in core products, and a shrinking market share for Rallye (RAL FP). He recommends shorting using the 3-year credit default swaps

Sohn NExt Continues here and more resources below

2018 Sohn Conference main event

UPDATED 12:34PM EST 4/32/18 John Khoury, Founder and Managing Partner, Long Pond Capital long DR Horton Ticker DHI

Li Ran, Chief Investment Officer, Half Sky Capital Ltd long Grubhub

Jeff Gundlach quirky short Facebook

Chamath Palihapitiya, Founder and CEO of Social Capital long Box

Part II Kacher is long cyber protection ideas here

Scott Ferguson, Managing Partner Sachem Head Capital Management

Seth Stephens-Davidowitz

John Pfeffer on blockchain

Bill Gurley on Tesla, Softbank, and everything tech

We have LOTS of slides on these 3 last pitches

Larry Robbins long healthcare stocks

Mangrove short EROS

Einhorn short AGO

2018 sohn conference

The Sohn conference donates 100% of REVENUE to an excellent charity, The Sohn Foundation. The Sohn Foundation has raised over $80 million for pediatric cancer patients since its founding in 2006 and now has chapters all over the world. The most high-profile event matched only (maybe) by the RobinHood Conference is the New York 2018 Sohn Conference taking place all Monday.

As warm-up readers can find our interview on what the Conference and cause are all about with the founder, Evan Sohn.

Below are links to the conference coverage which we will frequently be updating all Monday and parts of Tuesday so stay tuned. In the meantime sign up for our free newsletter to get the latest, check out our Premium subscription for our full coverage and see below for some exclusive content related to some of the high profile speakers.

Thanks!

2018 Sohn Conference – full speaker list

Nathaniel August  President at Mangrove Partners

David Einhorn President Greenlight Capital, Inc.

Scott Ferguson  Sachem Head Capital Management LP

Jeffrey Gundlach CEO DoubleLine Capital LP

Bill Gurley General Partner Benchmark

Glen Kacher Founder at Light Street Capital, LLC

John Khoury Founder Long Pond

Chamath Palihapitiya CEO Social Capital

John Pfeffer Partner Pfeffer Capital

Li Ran Chief Investment Officer Half Sky Capital Ltd

Larry Robbins Founder of Glenview Capital 

Seth Stephens-Davidowitz New York Times Op-Ed Contributor, Visiting Lecturer at The Wharton School, Former Google Data Scientist

Sohn Next Wave

  1. Scott Goodwin
  2. Rashmi Kwatra
  3. Oleg Nodelman
  4. Patrick McCaney
  5. Tim Garry
  6. Alexander Captain

2018 Sohn Conference schedule now up see below for details

AGENDA: 23rd ANNUAL SOHN INVESTMENT CONFERENCE Monday, April 23, 2018

Next Wave 9:00

Opening Remarks: Graham Duncan, Board Member, Sohn Conference Foundation and Co-Chair, Next Wave Sohn

9:05 Dylan Adelman, 2017 Sohn Investment Idea Contest Winner and student at The Wharton School of the University of Pennsylvania

9:20 Alexander Captain, Managing Partner and Portfolio Manager, Cat Rock Capital Management LP

9:40 Tim Garry, Chief Investment Officer, Portfolio Manager and Managing Partner, Pelorus Jack Capital, L.P.

10:00 Morning Stretch

10:15 Rashrni Kwatra, Founder and Portfolio Manager, Sixteenth Street Capital

10:35 Oleg Nodelman, Founder and Managing Director, EcoR1 Capital LLC

10:55 Scott Goodwin, Co-Founder and Managing Partner, Diameter Capital Partners LP

11:15 Closing Remarks: Keith Johnson, Co-Chair, Next Wave Sohn

Lunch

Main Conference 12:00 Opening Remarks: Douglas Hirsch, Co-Founder and Board Member, Sohn Conference Foundation and Co-Chair, Sohn Investment Conference

12:05 John Khoury, Founder and Managing Partner, Long Pond Capital, LP

12:25 Li Ran, Chief Investment Officer, Half Sky Capital Ltd

12:45 Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP

1:05 Chamath Palihapitiya, Founder and CEO, Social Capital LP

1:25 Intermission

2:05 Glen Kacher, Founder and Chief Investment Officer, Light Street Capital, LLC

2:25 Seth Stephens-Davidowitz, New York Times op-ed contributor, visiting lecturer at The Wharton School and former Google data scientist

2:45 Scott Ferguson, Managing Partner and Portfolio Manager, Sachem Head Capital Management LP

3:05 Sohn Special Guests: Bryan Fletcher and Gavin Shamis

3:20 John Pfeffer, Partner, Pfeffer Capital LP

3:40 Intermission

4:20 Bill Gurley, General Partner, Benchmark, with Chamath Palihapitiya

4:40 Larry Robbins, Founder, Portfolio Manager and CEO, Glenview Capital Management LLC

5:00 Sohn Idea Contest Winner

5:15 Josh Resnick, Founder And Managing Partners, Jericho Capital Asset Management LP.

5:35 David Einhorn, President, Greenlight Capital, Inc.

5:55 Closing Remarks: Dan Nir, Co-Founder and Board Member, Sohn Conference Foundation and Co-Chair, Sohn Investment Conference