NEW YORK, May 22 (Reuters) - 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 until Thursday.
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 Ackman.
*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 dramatically cheap.”
*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)