If you missed our first post, we’ve already covered our first set of notes from the Great Investors’ Best Ideas Symposium. In that particular post, we detailed investment ideas from prominent hedge fund players Bill Ackman of Pershing Square & David Einhorn of Greenlight Capital amongst many others and we highly recommend checking it out. This post is a continuation of those notes as we wanted to post up some other notable investors’ ideas that weren’t covered in the first article.
James Grant, Grant’s Interest Rate Observer
We already covered some of James Grant’s thoughts in our first set of notes, but we wanted to cover his insight in more detail. He presented two stock picks that are essentially options on inflation, citing that the Federal Reserve is ‘late to arrive and late to leave.’ He focused on UTS Energy (UTS) a Canadian company focused on the Canadian oil sands and he mentions this is a speculative play as they do not yet have income. If inflation rises, his thesis is that oil prices should rise and the hard-to-reach oil sands region will become more lucrative. Grant’s second pick was Fidelity National Financial (FNF), an insurance company. He is not wagering on an increase in house prices here, but rather an increase in the number of transactions. Grant notes that the title insurance business is essentially an oligopoly and is controlled by 4 players where FNF controls 46%.
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