SALT Conference 2015 – Perspectives, Predictions & Profits

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The SALT Conference is committed to facilitating balanced discussions and debates on macro-economic trends, geo-political events and investment opportunities within the context of a dynamic global economy. With over 1,800 thought leaders, public policy officials, business professionals, and investors from over 42 countries and 6 continents, the SALT Conference provides an unmatched opportunity for attendees from around the world to connect with global leaders and network with industry peers.

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Perspectives, Predictions & Profits: Investment Themes & Opportunities for the Year Ahead

Troy Gayseki (Moderator)

Partner & Senior Portfolio Manager, SkyBridge Capital

Clayton DeGiacinto

Founder & Chief Investment Officer, Axonic Capital

Loic Fery

Founder, Chief Executive Officer & Co-Chief Investment Officer, Chenavari Investment Managers

Emanuel J. Friedman

Chief Executive Officer, EJF Capital LLC (“EJF”)

Morris Mark

Founder, Managing Partner & Chief Investment Officer, Mark Asset Management

Christopher Pucillo

Chief Investment Officer & Chief Executive Officer, Solus Alternative Asset Management

Notes from SALT Conference 2015 – Perspectives, Predictions & Profits: Investment Themes & Opportunities for the Year Ahead

Morris Mark

The number of shares in the SPX is contracting at 3% a year since 2008

The big buyers of equity are the companies

Compounded 20% for 19 years ( i think that is what he said)

Housing starts will continue to rise – economy getting better

Add value through stock selection

Christopher Pucillo

Wireless spectrum is a large position

Its a scarce asset – need it to operate a wireless phone network

These wireless providers will continue to need more

A lot of the companies who own the spectrum went bankrupt because they were funded with high yield debt years ago

Spectrum could be worth multiples of what they are paying for it

Asset is needed – be in the right place at the right time – the time is now

Amount of data being downloaded is growing exponentially

Where you are on the bandwidth is important

Light Squared is in the sweet spot — GPS is getting interfered with and they need to clean it up

they tried to buy light square out of bankruptcy

Multiple ways to monetize

Loic Fery

Greece and Italy are to be avoided



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