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Perspectives, Predictions & Profits: Investment Themes & Opportunities for the Year Ahead
Troy Gayseki (Moderator)
Partner & Senior Portfolio Manager, SkyBridge Capital
Clayton DeGiacinto
Founder & Chief Investment Officer, Axonic Capital
Loic Fery
Founder, Chief Executive Officer & Co-Chief Investment Officer, Chenavari Investment Managers
Emanuel J. Friedman
Chief Executive Officer, EJF Capital LLC (“EJF”)
Morris Mark
Founder, Managing Partner & Chief Investment Officer, Mark Asset Management
Christopher Pucillo
Chief Investment Officer & Chief Executive Officer, Solus Alternative Asset Management
Notes from SALT Conference 2015 – Perspectives, Predictions & Profits: Investment Themes & Opportunities for the Year Ahead
Morris Mark
The number of shares in the SPX is contracting at 3% a year since 2008
The big buyers of equity are the companies
Compounded 20% for 19 years ( i think that is what he said)
Housing starts will continue to rise – economy getting better
Add value through stock selection
Christopher Pucillo
Wireless spectrum is a large position
Its a scarce asset – need it to operate a wireless phone network
These wireless providers will continue to need more
A lot of the companies who own the spectrum went bankrupt because they were funded with high yield debt years ago
Spectrum could be worth multiples of what they are paying for it
Asset is needed – be in the right place at the right time – the time is now
Amount of data being downloaded is growing exponentially
Where you are on the bandwidth is important
Light Squared is in the sweet spot — GPS is getting interfered with and they need to clean it up
they tried to buy light square out of bankruptcy
Multiple ways to monetize
Loic Fery
Greece and Italy are to be avoided