CNBC/Institutional Investor’s Delivering Alpha conference is happening tomorrow at the Pierre Hotel in Manhattan’s Upper East Side.
The annual hedge fund conference features discussions with top money managers and Washington insiders.
This year’s speaker lineup includes Treasury Secretary Jack Lew, Jim Chanos, Leon Cooperman and Richard Perry, just to mention a few. Closely-followed fund manager John Paulson is giving the lunchtime keynote, too.
At last year’s event there were a bunch of different investment ideas and stock picks tossed around.
We’ve decided to do a report card check on how they’ve been playing out from July 18, 2012 through July 12, 2013.
Let’s begin with billionaire fund manager Leon Cooperman.
Cooperman, who runs Omega Advisors, gave 10 stock picks. All of them turned out to be winners. Here’s their performance since July 18, 2012 until July 12, 2013:
- AIA Group Limited (1229.HK): The stock, which trades in Hong Kong, is up more than 23%.
- Capital One Financial (NYSE: COF): The company’s shares are up more than 21%.
- Express Scripts (NASDAQ: ESRX): The stock is up more than 13%.
- Gannet Co (NYSE: GCI): The stock is up more than 80%.
- Halliburton (NYSE: HAL): The stock is up more than 47%.
- Kinder Morgan (NYSE: KMI): The stock is up more than 13%.
- MetLife: The stock is up more than 58%.
- Qualcomm (NASDAQ: QCOM): The stock is up more than 10%.
- Watson Pharmaceuticals (NYSE: ACT): The stock, which now trades as Actavis is up more than 62%.
- Western Union (NYSE: WU): The stock is up more than 2.5%.
At last year’s event, Cooperman noted that he found himself limited because of the current macro environment. He still crushed it.
Kathleen Kelley of Queen Anne’s Gate Capital Management also presented last year.
At the conference, she said one way to play the eurozone weakness was the platinum market. Platinum closed at 1405.60 on July 18, 2012. It’s now trading around $1,424 per ounce.
Kelley also said the British pound was overvalued. The pound closed at 156.54 on July 18, 2012. It has been trading around 150.94.
Last year, Kelley said she didn’t mind being long the dollar, especially the dollar against Sterling.
That’s working moderately well now, but there’s no telling if she stayed in that trade. It took a lot of heat. Back in December, it was trading at 164, which would have been a huge move against her.
Next on to famed short-seller Jim Chanos, who said that Hewlett-Packard is the “ultimate value trap” at the 2012 Delivering Alpha conference.
So far, that bearish bet isn’t working out for the Kynikos Associates founder. HP’s stock is up more than 35% since then.
It’s not over yet. There’s still time.
During last year’s energy panel, Beau Taylor of Taylor Woods Capital Management predicted that crude would go to $200 a barrel.
That trade is playing out so-so. It took a lot of heat with crude going down to $87. It’s currently making new highs on the year now trading at around $106.
Lastly, on the real estate panel last year, hedge fund manager Bill Ackman, who runs $12 billion Pershing Square, revealed that his fund has a massive stake in Procter & Gamble.
It has played out well so far for the activist investor. Shares of P&G have risen more than 25% since the Delivering Alpha conference.
We’ll be covering the conference tomorrow. Be sure to check back for live coverage and updates.
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