Burbank, Jenner, and Cooperman hit on biggest winners at last SALT conference

By Simone Foxman

Wed May 7, 2014

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Best idea Vipshop (VIPS) rose 371%.

With this year’s SkyBridge Alternatives (SALT) Conference in Las Vegas just a week away, we revisit recommendations from last year’s conference, held in Las Vegas on May 7-10, 2013.

The majority of the managers who offered specific investment ideas (and are listed in our chart below) made profitable recommendations. Had you invested an equal amount of money in each of last year’s picks, your portfolio would have risen 25.1% after the close of trading Monday.

Of all their picks, however, Passport Capital’s John Burbank’s call to go long Chinese online discount retailer Vipshop (VIPS) takes the prize; the company’s New York-listed shares have nearly quintupled in the intervening year, rising from $33.79 on May 7, 2013, to $159.29 after Monday’s close. Rock Springs Capital founder Kris Jenner also hit a home run with his call to go long Pacira Pharmaceuticals. The price of shares in U.K. mobile payment company Monitise—a long recommendation from Omega Advisors chief Leon Cooperman—has since doubled.

Manager Idea (long unless otherwise noted) Percentage change since 5/7/13
Brad Berning, portfolio manager for Pine River Capital Management Nationstar Mortgage Holdings (NSM) -22.12
  Morgan Stanley (MS) 30.34
Carson Block, founding partner of Muddy Waters Research Standard Chartered Bank (senior) 5-year CDS 11.28
  Short: Vipshop (VIPS) 371.41
John Burbank, founder and CIO of Passport Capital Kinder Morgan (KMI) -12.67
  Marathon Petroleum Corp. (MPC) 20.12
  Yahoo! (YHOO) 41.58
  Splunk (SPLK) 23.23
  Yelp (YELP) 96.25
  Vipshop (VIPS) 371.41
  Mobily (or, Etihad Etisalat) (EEC.AB) 21.93
  Short: Gold mining companies (GDX) -14.59
Leon Cooperman, CEO and president of Omega Advisors Sprint (S) 21.33
  Qualcomm (QCOM) 26.91
  Express Scripts (ESRX) 9.34
  Citi (C) -1.85
  MetLife (MET) 28.54
  American International Group (AIG) 18.98
  Transocean (RIG) -18.04
  Monitise (MONI.LN) 109.56
Kris Jenner, founding partner of Rock Springs Capital Pacira Pharmaceuticals (PCRX) 170.96
Andrew Jent, president of Hayman Capital Management Dex Media (DXM) -44.2
Michael Karsch, founder and portfolio manager of Karsch Capital Management Autodesk (ADSK) 20.18
Theo Phanos, CEO of Capeview Capital Short: New World Resources (NW.V) -41.67
Oscar Schafer, chairman of Rivulet Capital Hertz (HTZ) 18.5

ISSN: 2151-1845 / CDC10004H

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