Lincoln Center Hosts Sohn Investment Conference

Written by Aditya Garg

However, the conference doesn’t just seem to power the ambitions of those attending the conference, it also seems to affect the stock prices of the companies mentioned and pitched.

On Monday, April 22, 2018 the Sohn Conference Foundation hosted this year’s edition of its flagship NYC Sohn Investment Conference. The first investment idea conference, it is held in honor of Ira Sohn, a Wall Street professional who passed away at the age of 29. It is dedicated to the treatment and cure of pediatric cancer and other childhood diseases and has raised over $85m over the last 20 years.

Perhaps one of the most anticipated and popular hedge fund events of the year, the Conference brings together heavyweights in the finance industry to discuss ongoing trends and ideas in their field. Prominent speakers this year included Jeffrey Gundlach, CEO of DoubleLine Capital; Larry Robbins, CEO of Glenview Capital; and David Einhorn, President at Greenlight Capital.

“It’s really amazing how Sohn is able to attract such a wide audience,” commented Spencer Hanus, a senior at the NYU Stern School of Business. “It is not only a great way to share ideas and hear from/meet top people in the industry but all the proceeds go towards a good cause.”

The organizers also hold an Idea Contest, open to the public, whereby one winner has the opportunity to present at the conference.

The judges?

Investors William Ackman, CEO at Pershing Square; David Einhorn; Joel Greenblatt, President at Gotham Asset Management; Seth Klarman, CEO at The Baupost Group; and Larry Robbins – all names well-known in the investment industry.

Last year’s winner, Dylan Adelman, was just a senior at the University of Pennsylvania.

“I think the contest really helps to show the pipeline of talent in the industry,” said Sahej Suri, a senior at the NYU Stern School of Business. “Listening to the pitches has certainly motivated me to learn more about security analysis.”

However, the conference doesn’t just seem to power the ambitions of those attending the conference, it also seems to affect the stock prices of the companies mentioned and pitched. For instance, Chamath Palihapitiya, founder of Social Capital, presented a bullish thesis on cloud content management and file sharing business, Box.

“If you believe in and if you care about A.I. and its role in the world, be long Amazon, be long Google, but be long Box,” he said.

Shares of Box ended up nearly 11% at the end of trading on Monday.

This phenomenon was true of other stocks pitched as well, from U.S. homebuilder, D.R. Horton, to bond insurance company, Assured Guaranty.

But now, with the conference having ended, investors eyes have turned to the 10 other conferences scheduled to be held across 9 countries also organized by the Foundation in pursuit of its mission of helping treat and cure pediatric cancer.