MarketFolly.com
10-13-2010, 09:00 AM
http://1.bp.blogspot.com/_9MYixPWxtF0/TLW4LmrXWsI/AAAAAAAAB1w/8YCAYIAbI3E/s200/value_investing_congress.gif (http://1.bp.blogspot.com/_9MYixPWxtF0/TLW4LmrXWsI/AAAAAAAAB1w/8YCAYIAbI3E/s1600/value_investing_congress.gif)Today is the second day of our coverage of the Value Investing Congress including presentations from Kyle Bass (Hayman Capital), David Einhorn (Greenlight Capital), Mohnish Pabrai (Pabrai Investment Funds), Whitney Tilson (T2 Partners) and more. Their latest ideas are outlined below and be sure to check back frequently as we will be updating this post throughout the day.
We've already posted a wealth of information from the event, including:
- Presentations from John Burbank, Lee Ainslie, & Francisco Parames (http://www.marketfolly.com/2010/10/notes-from-value-investing-congress.html)
- Further notes from day 1 of the Congress (http://www.marketfolly.com/2010/10/zeke-ashton-guy-spier-michael-lewitt.html)
- Bill Ackman's Q&A session (http://www.marketfolly.com/2010/10/bill-ackmans-question-answer-session-at.html)
Let's now dive right into day two's presentations from the Value Investing Congress:
Kyle Bass ~ Hayman Capital
Bass' presentation, 'Does Debt Matter?' is by far the gloomiest of all the speakers thus far. He immediately cites the high levels of US credit market debt and not only the staggering amount of unemployment, but the fact that we are seeing permanent job loss. Bass notes that there's now $200 trillion in total credit debt throughout the world and this amount has tripled over the past 8 years.
He is very concerned about Ireland and says they're very likely to default. Bass is also 100% certain that Japan will default. It's not a matter of 'if', but 'when.' In fact, we've covered how Bass is betting against Japanese Government Bonds (http://www.marketfolly.com/2010/08/kyle-bass-betting-against-japanese.html) (JGBs). Additionally, he says Greece and Iceland are the two other countries in peril here. Greece's default is inevitable and people's reaction will be to buy US dollars.
Next, the Hayman Capital manager shifted his focus to Australia where he believes the country is due for a housing crisis.
*In progress, check back for updates...
David Einhorn ~ Greenlight Capital
Upcoming
Mohnish Pabrai ~ Pabrai Investment Fund
Upcoming
Whitney Tilson ~ T2 Partners
*** Check back throughout the day as this post will be updated after each speaker's presentation. Receive our free updates via email (http://feedburner.google.com/fb/a/mailverify?uri=MarketFolly&loc=en_US) or our free updates via RSS reader (http://feeds.feedburner.com/MarketFolly).https://blogger.googleusercontent.com/tracker/5975869446501122263-6420259521100316774?l=www.marketfolly.com
http://feeds.feedburner.com/~ff/MarketFolly?d=yIl2AUoC8zA (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:yIl2AUoC8zA) http://feeds.feedburner.com/~ff/MarketFolly?d=7Q72WNTAKBA (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:7Q72WNTAKBA) http://feeds.feedburner.com/~ff/MarketFolly?i=XZfsBqQS_K0:tYJkfYHR184:gIN9vFwOqvQ (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:gIN9vFwOqvQ) http://feeds.feedburner.com/~ff/MarketFolly?i=XZfsBqQS_K0:tYJkfYHR184:V_sGLiPBpWU (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:V_sGLiPBpWU)
http://feeds.feedburner.com/~r/MarketFolly/~4/XZfsBqQS_K0
More... (http://feedproxy.google.com/~r/MarketFolly/~3/XZfsBqQS_K0/notes-from-value-investing-congress_13.html)
We've already posted a wealth of information from the event, including:
- Presentations from John Burbank, Lee Ainslie, & Francisco Parames (http://www.marketfolly.com/2010/10/notes-from-value-investing-congress.html)
- Further notes from day 1 of the Congress (http://www.marketfolly.com/2010/10/zeke-ashton-guy-spier-michael-lewitt.html)
- Bill Ackman's Q&A session (http://www.marketfolly.com/2010/10/bill-ackmans-question-answer-session-at.html)
Let's now dive right into day two's presentations from the Value Investing Congress:
Kyle Bass ~ Hayman Capital
Bass' presentation, 'Does Debt Matter?' is by far the gloomiest of all the speakers thus far. He immediately cites the high levels of US credit market debt and not only the staggering amount of unemployment, but the fact that we are seeing permanent job loss. Bass notes that there's now $200 trillion in total credit debt throughout the world and this amount has tripled over the past 8 years.
He is very concerned about Ireland and says they're very likely to default. Bass is also 100% certain that Japan will default. It's not a matter of 'if', but 'when.' In fact, we've covered how Bass is betting against Japanese Government Bonds (http://www.marketfolly.com/2010/08/kyle-bass-betting-against-japanese.html) (JGBs). Additionally, he says Greece and Iceland are the two other countries in peril here. Greece's default is inevitable and people's reaction will be to buy US dollars.
Next, the Hayman Capital manager shifted his focus to Australia where he believes the country is due for a housing crisis.
*In progress, check back for updates...
David Einhorn ~ Greenlight Capital
Upcoming
Mohnish Pabrai ~ Pabrai Investment Fund
Upcoming
Whitney Tilson ~ T2 Partners
*** Check back throughout the day as this post will be updated after each speaker's presentation. Receive our free updates via email (http://feedburner.google.com/fb/a/mailverify?uri=MarketFolly&loc=en_US) or our free updates via RSS reader (http://feeds.feedburner.com/MarketFolly).https://blogger.googleusercontent.com/tracker/5975869446501122263-6420259521100316774?l=www.marketfolly.com
http://feeds.feedburner.com/~ff/MarketFolly?d=yIl2AUoC8zA (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:yIl2AUoC8zA) http://feeds.feedburner.com/~ff/MarketFolly?d=7Q72WNTAKBA (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:7Q72WNTAKBA) http://feeds.feedburner.com/~ff/MarketFolly?i=XZfsBqQS_K0:tYJkfYHR184:gIN9vFwOqvQ (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:gIN9vFwOqvQ) http://feeds.feedburner.com/~ff/MarketFolly?i=XZfsBqQS_K0:tYJkfYHR184:V_sGLiPBpWU (http://feeds.feedburner.com/~ff/MarketFolly?a=XZfsBqQS_K0:tYJkfYHR184:V_sGLiPBpWU)
http://feeds.feedburner.com/~r/MarketFolly/~4/XZfsBqQS_K0
More... (http://feedproxy.google.com/~r/MarketFolly/~3/XZfsBqQS_K0/notes-from-value-investing-congress_13.html)