Gotham Capital Founder and CEO Joel Greenblatt says that some of the best bargains might be hiding in plain sight – the more visible large-cap companies such as Microsoft and Dell. — Listen to the audio here (2 minute mp3 format)
Kevin Conway, managing Partner at Clayton Dubilier and Rice, spoke at a Reuters Hedge Fund and Private Equity Summit in New York this week. The fund led the investor group that agreed to buy rental company Hertz from Ford. He covered a number of topics in the interview, which can be downloaded here (55 minute mp3 audio interview). Here are the highlights:
Don’t bother with the next new thing
Conway said his investment philosophy centers more around protection from risk than chasing the next new thing. “I like market leaders with good management,” he said. “It doesn’t necessarily mean big cap.”
— Listen to the audio here (1 minutes mp3 format)
Wary about sectors hit by prices, energy
He adds he would be concerned about sectors that been affected by a run-up in prices, such as energy and commodities. And: “On the flip side I’d be very worried about industries that have been hurt by their energy inputs, some of the process industries, paper, aluminum,” he said.
— Listen to the audio here (2 minute mp3 format)
John Bader, chief investment officer and co-chairman of Halcyon Asset Management, spoke at a Reuters Hedge Fund and Private Equity Summit in New York this week. The fund has $3.6 billion under management. He covered a number of topics in the interview, which can be downloaded here (55 minute mp3 audio interview). Among the highlights:
Cable stocks seen unfairly hit by Telco TV fears
The cable companies will beat out telephone companies in the fight to wire homes with media services, at least over the next 18 months, he predicted. Companies such as Comcast and Time Warner, in which Halcyon owns stakes, will be the winners for the time being, he said.
— Download to the audio here (3 minute mp3 format)
Mittal and Arcelor “undervalued”
Bader commented on Mittal Steel Co. NV’s takeover bid for Arcelor, calling both steelmakers “tremendously undervalued.”
— Download to the audio here (30 second mp3 format)
London Stock Exchange “will ultimately be sold”
Bader said he would be surprised if the New York Stock Exchange, under the new publicly traded company NYSE Group, does not bid for the London Stock Exchange. “The LSE will ultimately be sold,” most likely within a year, he forecast.
— Download the audio here (30 second mp3 format)