18th Annual Sohn Investment Conference
Glean fresh, valuable insight from the savviest investors at the world’s premier investment forum. The 18th annual Sohn Investment Conference provides the opportunity to access the knowledge and experience of an unparalleled roster of speakers.
Avery Fisher Hall, Lincoln Center, New York City | May 5th, 2014
ABOUT THE CONFERENCE
Since 1996, the world-renowned Sohn Investment Conference has been the premier investment forum, bringing together the world’s savviest investors to share fresh insights and strategies in support of pediatric cancer research and treatment.
Wall Street’s best and brightest investors participate in this unique, “must attend” event to share their expertise with an audience of more than 3,000 people, comprised of portfolio managers, asset allocators and private investors. Most speakers manage large proprietary investment portfolios that have outperformed the market for many years and do not share their insights in any public forum, but they volunteer their time to the Conference for the benefit of the Foundation. All contributions support the Foundation’s mission to support pediatric research and care.
- William Ackman
WILLIAM ACKMAN is Chief Executive Officer and Portfolio Manager of Pershing Square Capital Management, L.P. Pershing Square is a concentrated research-intensive fundamental value investor in long and occasionally short investments in the public markets, typically focusing on large-cap and mid-cap companies. Prior to forming Pershing Square, Mr. Ackman co-founded Gotham Partners Management Co. Mr. Ackman began his career in real estate investment banking at Ackman Brothers & Singer, Inc. Mr. Ackman received an M.B.A. from the Harvard Business School and a B.A. magna cum laude from Harvard College. Mr. Ackman’s board memberships include Chairman of The Howard Hughes Corporation, J.C. Penney and Canadian Pacific Railway.
- Kyle Bass
KYLE BASS is Principal of Hayman Capital Management L.P. Hayman Capital Management, formed in December 2005, serves as the investment manager to private funds focused on global event-driven, residential mortgage-backed securities and asymmetrically priced “tail” opportunities. Previously, Mr. Bass co-managed private funds with strategies focused on sub-prime credit. Prior to forming Hayman Capital Management, Mr. Bass worked as a Managing Director at Legg Mason, Inc. and a Senior Managing Director at Bear, Stearns & Co., Inc. Mr. Bass graduated with a Bachelor of Business Administration in Finance and Real Estate Finance from Texas Christian University in May 1992. Mr. Bass is a member of the Board of Directors of The University of Texas Investment Management Co., which has aggregate assets of over $26 billion. Mr. Bass is a founding member of the Serengeti Asset Management Advisory Board and serves on the board of directors of the Troops First Foundation, Business Executives for National Security and Texas Ranger Association Foundation. In addition, Mr. Bass is a member of the Advisory Council of the Comeback America Initiative, which is dedicated to promoting fiscal responsibility and sustainability.
- James Chanos
JAMES CHANOS is Founder and Managing Partner of Kynikos Associates LP., the world’s largest exclusive short selling investment firm. The Ursus, Kriticos and Kynikos Opportunity funds seek to profit from the unusually high alphas found on the long and short side of the U.S. and non-U.S. equity markets. Mr. Chanos opened Kynikos Associates LP in 1985 to implement investment strategies he had uncovered while beginning his Wall Street career as a financial analyst with Paine Webber, Gilford Securities, and Deutsche Bank. Throughout his investment career, Mr. Chanos has identified and sold short the shares of numerous well-known corporate financial disasters; among them, Baldwin-United, Commodore International, Coleco, Integrated Resources, Boston Chicken, Sunbeam, Conseco, and Tyco International. His celebrated short-sale of Enron shares was dubbed by Barron’s as “the market call of the decade, if not the past 50 years.” Mr. Chanos is Chairman of the Coalition of Private Investment Companies. In that role, Mr. Chanos has testified before Congress and provided comments to regulations proposed by the U.S. Securities and Exchange Commission and the Financial Services Authority in the United Kingdom. Mr. Chanos is currently a Lecturer in Finance and Becton Fellow at the Yale School of Management, teaching a class on the history of financial fraud. Mr. Chanos received his B.A. in economics and political science in 1980 from Yale University.
- Stanley Druckenmiller
STANLEY DRUCKENMILLER graduated with honors from Bowdoin College with degrees in Economics and English, and earned graduate degree credits in Economics from the University of Michigan. After working at the Pittsburgh National Bank, in 1981, Stan founded Duquesne Capital Management, which he ran until he closed the firm at the end of 2010. Thereafter, he has been running his family office. From 1988 to 2000, he was a Managing Director at Soros Fund Management, where he served as Lead Portfolio Manager of the Quantum Fund and Chief Investment Officer of Soros, and had overall responsibility for funds with a peak asset value of $22 billion. Stan is Chairman of the Board of the Harlem Children’s Zone, a Board member of the Children’s Scholarship Fund, Memorial Sloan Kettering, and the Environmental Defense Fund, a member of the investment committee of Bowdoin College and co-founder and Board member of the Kasparov Chess Foundation.
- David Einhorn
DAVID EINHORN is President of Greenlight Capital, Inc., which he co-founded in 1996. Greenlight Capital is a value-oriented investment advisor whose goal is to achieve high absolute rates of return while minimizing the risk of capital loss. Greenlight’s investment philosophy is to combine the analytical discipline of determining fair value with a practical understanding of markets. David is Chairman of the Board of Greenlight Capital Re, Ltd. and a Director of BioFuel Energy Corp. He is the author of “Fooling Some of the People All of the Time: A Long Short Story,” published in May 2008. David graduated with a B.A. summa cum laude from Cornell University.
- Steven Eisman
STEVEN EISMAN is Founder and Portfolio Manager of Emrys Partners, L.P. Mr. Eisman has over 20 years of investing experience. Prior to founding Emrys, Mr. Eisman was a Partner and the Senior Portfolio Manager of the FrontPoint Financial Services Fund, which began operations in March 2004, and the FrontPoint Financial Horizons Fund, which began operations in January 2006. Prior to FrontPoint, Mr. Eisman was a Managing Director and Senior Financial Services Analyst at Chilton Investment Co. Earlier in his career, Mr. Eisman was a Managing Director at Oppenheimer & Co. While at Oppenheimer & Co., Mr. Eisman was ranked as an All-Star Analyst by both Institutional Investor and The Wall Street Journal on multiple occasions. Mr. Eisman earned his B.A. from the University of Pennsylvania and his J.D. from Harvard Law School.
- Jeffrey Gundlach
JEFFREY GUNDLACH is Chief Executive Officer and Chief Investment Officer of DoubleLine. He was formerly associated with TCW where he was Chief Investment Officer and head of fixed income activities. He is recognized as a leading expert in bond and fixed income investments. His investment strategies have been featured in leading publications including The New York Times, The Financial Times and The Wall Street Journal. In 2010, Mr. Gundlach was named to the SmartMoney Power 30. In 2011, he was featured as “The King of Bonds” in Barron’s, and named one of “5 Mutual Fund All-Stars” by Fortune Magazine. In 2012, he was named one of the “50 Most Influential” by Bloomberg Markets magazine. He is a graduate of Dartmouth College summa cum laude holding a B.A. in Mathematics and Philosophy. He attended Yale University as a Ph.D. candidate in Mathematics.
- Jonathon Jacobson
Jonathon Jacobson is the Founder, Chief Investment Officer and Chief Executive Officer of Highfields Capital Management LP, an $11 billion Boston-based investment management firm established in July 1998. Prior to founding Highfields, Mr. Jacobson spent eight years as a senior equity portfolio manager at Harvard Management Company, Inc., which is responsible for investing Harvard University’s endowment.
Mr. Jacobson currently serves as a Director of Clear Channel Media Holdings, Inc. He is also a past member of the Asset Managers’ Committee of the President’s Working Group on Financial Markets, formed in 2007 to foster a dialogue with Federal Reserve Board and Department of the Treasury on issues of significance to the investment history.
Mr. Jacobson received an MBA from Harvard Business School in 1987 and graduated magna cum laude with a B.S. in Economics from the Wharton School, University of Pennsylvania in 1983.
- Mitchell Julis
MITCHELL JULIS is Co-Founder, Co-Chairman and Co-CEO of Canyon Partners, LLC, a leading global alternative asset management firm headquartered in Los Angeles, California. Canyon manages approximately $20 billion in assets, specializing in credit-oriented investments for institutional investors worldwide. Canyon also invests in real estate through Canyon Capital Realty Advisors and the Canyon Johnson Urban Fund, and in emerging market debt securities through ICE Canyon LLC. Mr. Julis is a graduate of the Woodrow Wilson School at Princeton University (B.A., magna cum laude, Phi Beta Kappa), Harvard Law School (J.D., magna cum laude) and Harvard Business School (M.B.A., honors). He received an honorary doctorate from Yeshiva University of New York in 2011.
- Li Lu
LI LU is the Chairman of Himalaya Capital, which he founded in 1997. Himalaya Capital manages funds that are focused on publicly traded securities, as well as venture capital funds, both on a global basis. He serves on the board of directors of a number of technology and high growth companies, as well as several not-for-profit organizations. Li Lu attended Nanjing University in China from 1985 to 1989. From 1990 to 1996, he attended Columbia University and earned three degrees simultaneously: a B.A. in Economics from Columbia College, a J.D. from Columbia Law School, and an M.B.A. from Columbia Business School. Li Lu is the author of the book “Moving the Mountain: My Life in China,” which recounts his experiences in China. Li Lu received the John Jay Award for distinguished professional achievement from Columbia University in 2012. He was named a Global Leader for Tomorrow by the World Economic Forum in 2001, and a Henry Crown Fellow by the Aspen Institute in 1998. Mr. Lu also received the Raoul Wallenberg Human Rights Award from the Congressional Human Rights Foundation and the Reebok Human Rights Award for his work of advocating for human rights. He is a member of The Council on Foreign Relations, Pacific Council for International Relations and Committee 100.
- Keith Meister
KEITH MEISTER is Managing Partner and Chief Investment Officer of Corvex. Prior to founding Corvex, in between August 2003 and August 2010, Mr. Meister served as Chief Executive Officer and then Principal Executive Officer and Vice Chairman of the Board of Icahn Enterprises G.P. Inc. (“Icahn Enterprises”), the primary vehicle through which Carl C. Icahn conducts his business affairs. From their launch in November 2004 to August 2010, Mr. Meister served as Senior Managing Director of the General Partners of Icahn Partners LP and affiliated funds (collectively, the “Icahn Funds”). The Icahn Funds are value-oriented activist hedge funds focused on equity and distressed debt investments. Mr. Meister currently serves on the board of directors for The ADT Corporation, the largest residential and small business security provider in the U.S. and Canada, and Ralcorp Holdings, the largest North American private label food manufacturer. Mr. Meister previously served on the boards of a significant number of major corporations, including Motorola and XO Communications. Mr. Meister received an A.B. in government, cum laude, from Harvard College in 1995.
- Clifton Robbins
CLIFTON ROBBINS is Founder and Chief Executive Officer of Blue Harbour Group, L.P. The firm’s investment strategy is to use a private equity approach to the public markets as it serves as a lead minority stockholder in public companies, working in collaboration with company managements and boards to build and unlock shareholder value. Mr. Robbins has more than 25 years of experience in the investment management business. Prior to forming Blue Harbour, Mr. Robbins had been a Managing Member of General Atlantic Partners, LLC, a global private equity firm from 2000 through August 2004. Prior to that, Mr. Robbins had been a General Partner of Kohlberg Kravis Roberts & Co., where from 1987 until 2000 he played a significant role in many of the firm’s leveraged buyout transactions and financings, which aggregated in excess of $100 billion. He has served on the Board of Directors of more than 15 public and private companies. Mr. Robbins graduated with an A.B. from Harvard College in 1980 and received his M.B.A. from Stanford University Graduate School of Business in 1984.
- Paul Singer
PAUL SINGER is Founder and President of Elliott Management Corporation, a New York–based trading firm. Launched in 1977 with $1 million of capital, total assets under management for the Elliott funds have grown to approximately $20 billion today. Elliott also has affiliated offices in London, Hong Kong and Tokyo. Mr. Singer is on the board of Harvard Medical School and of Commentary Magazine, and on the advisory board of the James Madison Program in American Ideals and Institutions at Princeton University. He is also chairman of the Manhattan Institute.
- David Stemerman
DAVID STEMERMAN is Founder and Portfolio Manager of Conatus Capital Management, a global long-short equity manager. Conatus Capital seeks to generate outperformance from both long and short investments through individual stock selection based on in-depth, fundamental research into U.S. and global equities. Prior to launching Conatus Capital in 2008, Mr. Stemerman was a partner and portfolio manager at Lone Pine Capital. Previously, Mr. Stemerman was an analyst at equity long-short hedge funds Ulysses Management, the successor firm to Odyssey Capital, and HPB Associates and was an associate at McKinsey & Company. Mr. Stemerman received an M.B.A. (with distinction) from Harvard Business School and a J.D. (magna cum laude) from Harvard Law School, and his B.A. in history from Yale University (summa cum laude).
- Tor Olav Trøim
Tor Olav Trøim
TOR OLAV TRØIM has served as Director of the Fredriksen Group since 1995, and has worked with John Fredriksen since the Group took control over their first public Company, Frontline, in 1996. His career includes Equity Portfolio Manager with Storebrand ASA (1987-1990) and Chief Executive Officer for the Norwegian Oil Company DNO AS (1992-1995). Over the last 18 years with the Fredriksen Group, Mr. Trøim has had the position of CEO in Frontline Ltd, Golar LNG, Northern Offshore, Knightsbridge Tankers, Ship Finance international and Seadrill Ltd. He is currently a Board member and vice chairman in many of the Fredriksen public companies, the largest being Frontline 2012, Seadrill Ltd , Golar LNG and Marine Harvest ASA. Trøim is also chairman of the two newest MLP companies the group has brought to the US market in the last two years: Golar Partners and Seadrill Partners. Mr. Trøim graduated as M.Sc. Naval Architect from the University of Trondheim, Norway in 1985. He received the Deal Maker of the year award from Marine Money when the price first time was introduced in 2003.
A Sampling of Our Previous Speakers
Avery Fisher Hall, Lincoln Center
132 W. 65th Street (on the corner of Columbus Avenue)
New York, NY 10023 new.lincolncenter.org/ Doors Open: 11:00 AM
Conference 12:00 PM – 6:00 PM
Reception to Follow
ABOUT THE FOUNDATION
The Sohn Conference Foundation
The Sohn Conference Foundation is one of the leading pediatric cancer research and care funders, dedicated to supporting innovative initiatives. Identifying specific areas of need, the Foundation funds groundbreaking research, state-of-the-art technology, and programs to target cures and improve patient care. Learn More