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This time last year, hedge fund royalty descended on the Ira Sohn Investment Conference in New York, and made some predictions about the market and the stocks they were buying.Given that a year has passed — and the conference, which Clusterstock will be covering live, is on again today — Lawrence Delevingne at AR decided to take a look at what some of the big names said then, and how those predictions panned out.
Bill Ackman of Pershing Square and Steve Eisman of FrontPoint were gold medalists.
Ackman said buy Citi and General Growth Properties — both stocks are up, especially the latter.
Eisman compared for-profit education to the sub-prime mortgage bubble, and shorted accordingly. Every single stock he mentioned — from Apollo to Corinthian Colleges — is down. (Corinthian has nosedived).
David Tepper of Appaloosa won some and lost some. He pushed Bank of America, which is down about 25% since last year. But his Santander bet is paying off so far.
Greenlight’s David Einhorn miscalculated. He said short Moodys and McGraw-Hill Companies. Both stocks have surged. He was especially long Barrick Gold, and the stock has tumbled.