Notes From SALT Conference Risk Panel: Falcone, Sprott, Rieder & Ivascyn ~ market folly

Thursday, May 10, 2012

Notes From SALT Conference Risk Panel: Falcone, Sprott, Rieder & Ivascyn

At the Skybridge Alternative Conference (SALT) in Las Vegas yesterday, a panel on risk featured Harbinger Capital's Phil Falcone, Sprott Asset Management's Eric Sprott, Blackrock's Rick Rieder, as well as PIMCO's Daniel Ivascyn. The talk was entitled, "Risk On, Risk Off: How to Generate Profits in a Macro Driven World."

Phil Falcone of Harbinger Capital Partners essentially referenced his Lightsquared venture when he made comments regarding investors being too fixated on liquidity.  He argues that people are passing on solid long-term opportunities because they want access to their capital.  The Harbinger man believes regulation has hurt the free market.

He also went on to say that because of the market's risk on/risk off mentality, there are many who aren't even paying attention to fundamentals out there.  The manager labeled the market one of the most difficult to time investments.

Eric Sprott of Sprott Asset Management is yet again pounding the table on gold due to the problems in Europe.  He also commented on the "post-Lehman" world and mentioned that there can't be liquidity events as that could bring down the whole system.

Rick Rieder talked about how investing strategies are shifting from beta to idiosyncratic. He also believes that contagion isn't as big of an issue in Europe.

Daniel Ivascyn stressed the importance of aligning the right vehicle with the investment opportunity.  Long term opportunities need to be placed in the right structure, he says.

For more notes from the SALT Conference, check out:

- Identifying opportunities in emerging markets with John Burbank

Notes from panel with Kyle Bass, Dmitry Balyasny & Steven Tananbaum

- Barry Rosenstein, Leon Cooperman & Joel Greenblatt's panel on stocks

The above was compiled from notes sent in along with help from live tweets from: @ldelevingne , @pdmckenna@AttainCapital & @realrobcopeland

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