NEW YORK May 22 Hundreds of investors packed
into the Time Warner Center in New York for the annual Ira W.
Sohn Investment Research Conference on Wednesday to hear top
money managers discuss their favorite stock picks.
Reporters were barred from disclosing details of the event
Here is a list of the investors and some of their choices:
*Bill Ackman, Pershing Square Capital: Wendy's
International WEN.N, which has agreed to be bought by Nelson
Peltz's Triarc Cos TRY.N, the Arby's restaurants owner. "We
own all we can, a share less than the poison pill," said
*Bill Miller, Legg Mason Capital Capital Management: buy
AES Corp (AES.N), Freddie Mac FRE.N and Health Net HNT.N,
which he hopes will merge with Aetna (AET.N), which the fund
*David Einhorn, Greenlight Capital: sell Lehman Brothers
LEH.N short, because they haven't written down structured
investments enough. see separate story [N22503654]
*Chris Hohn, Children's Investment Fund: support his firm's
proxy battle at railroad company CSX Inc CSX.N.
*Richard Pzena, Pzena Investment Management: buy Citigroup
Inc (C.N). "This is classic value. There is lots of stress.
When we come out of this, the upside is huge."
*Bill Browder, Hermitage Capital: buy Aldar Properties Co
ALDR.AD, the largest Abu Dhabi real estate developer. "Abu
Dhabi is the richest country in the world and this is the
cheapest real estate company in the world."
*Michael Price, MFP Investors: buy Allied Irish Banks
(ALBK.I) but don't buy recent rights offerings by Citigroup or
UBS UBSN.VX. "Citi's perpetual preferreds have nowhere to go
but down." Price also likes Vornado Realty Trust (VNO.N),
McGraw-Hill Cos MHP.N and GenCorp Inc GY.N.
*Douglas Teitelbaum, Bay Harbour Management: buy distressed
debt in Harrah's Entertainment and stock in Trico Marine
TRMA.O, Navistar NAVZ.PK and Alliance One (AOI.N), one of
two major sellers of tobacco to cigarette companies. "Cigarette
smoking is up 3 percent worldwide. We think this stock is just
*Josh Fink, Enso Capital Management: buy MagIndustries
MAA.V, a Canadian company that produces potash, magnesium and
other materials. "Potash prices are on fire!" Also short
Brazilian aircraft maker Embraer (EMBR3.SA) (ERJ.N).
*Robert Bishop, Impala Asset Management: buy Fording Coal
Trust FDG_u.TO, a Canadian royalty trust, one of few makers
of coal for steel production. "It's the best pure play in the
metallurgic coal sector and a potential acquisition target."
*Carl Icahn: support his dissident proxy slate at Yahoo Inc
(YHOO.O) and don't support Democrat Barack Obama. "I personally
think he'd be a terrible president!"
(Reporting by Dane Hamilton; Editing by Tim Dobbyn)