Photo: Linette Lopez for Business Insider
When the world’s top hedge fund managers speak, the market listens.If you need proof, we attended the Ira Sohn Investment conference in New York yesterday where hundreds of investors doled out $3,000 (for charity) to hear the best and brightest hedge funders share their investment views and picks.
What’s always fascinating about these exclusive conferences — where people on their laptops and iPads listen to every word being said onstage — is the intraday trading movements that take place once a hedge funder reveals his/her pick.
The trend seems to be that when a fund manager says he/she is long a certain stock, you’ll likely see an immediate spike in both the price and the trading volume in that particular stock.
Likewise, when a fund manager says he/she is short a stock, the price tends to tank and the volume spikes, too.
We’ve compiled some of the stock picks (both long and short) that were mentioned at yesterday’s event and we’ve also included the chart.