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Live-Blogging The Ira Sohn Conference: Part III

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On tap: Ackman, Joel Greenblatt, David Einhorn, Eike Batista, Carl Icahn

4:55 Speaker 11, Bill Ackman, Pershing Square

4:56 "A lot of people think of Pershing Square as an activist fund- well this is going to be a passive idea"

4:57 Bill is recommending...

Family Dollar Stores

4:58 "The slides aren't turning as fast as I'd like...not my fault."

5:00 The competition's shelves aren't well-stocked. "I can see Dan Loeb going in there and not being able to find wax for his surf board. Terrible." [Looks, charm, comedic timing and the upper-arm strength to make the rowing machine his bitch. You can't beat this package.]

5:07: Ackman: "I just finished 2 minutes early. You owe me a million dollars. I'll do anything for charity."

5:08: Last slide reads: "15 minutes of applause."

5:25 Speaker 13, Mark Hart III, Corriente Advisors

5:27 Perception: China is an economic miracle. Reality: China is a credit-fueled bubble.

5:36 Perception: The Chinese RMB can only appreciate. Reality: Devaluation is the path of least resistance in a China bust scenario.