David Einhorn Uses Sohn Conference Spot To Cruelly Toy With A Fracking Stock

Someone thought the Sohn Investment Conference was trying out a Bachelor rose ceremony theme this year.

We know that Mets are off to a tough start this season, and that this reality must be weighing heavily on superfan David Einhorn...but he needn't lash out.


During his allotted time at this year's billion-dollar bull session, Einhorn decided to flirt with, and then decimate, an energy stock called Core Laboratories. D-Horns started out vague on the company that provides core analysis and other services to energy producers, leading many in the audience to think that Einhorn was about to talk up his position. But much like two years ago, Einhorn turned out to be a critic of yet another firm in the "Motherfracker" industry. By couching his thoughts in a barrage of New Yorker cartoons (he literally shared what felt like 100 New Yorker cartoons in his presentation), Einhorn kept the suspense going for awhile before wading into Core's less-than-realistic take in its own sector. And then he turned.

How whiplashed were people that misread his intentions? You tell us:

This is CLB's trading day. Can you spot where Einhorn revealed his short? Be careful, it's real fucking subtle:

Screen Shot 2017-05-08 at 4.01.35 PM

Einhorn mocked a company presentation showing that Core anticpates a "V-curve" rebound in the price of gas and then said this about the company's CEO:

"Just as Kanye loves himself, David Demshur seems to love his stock at any price."

So basically David Einhorn used New Yorker Cartoons, a stale Kanye joke and nerd stagecraft to not-at-all maybe pump and short an energy stock live at Sohn.

We are so glad we finally came this year....

[A previous version of this post mistakenly referred to the Core presentation as "internal"]


David Einhorn Said No To A Capital Raise, Kept The Door Open For A Pub Crawl

Remember how David Einhorn got in trouble in England for insider trading on Punch Taverns stock and he was all "what?" and we were all "what?"? Well, you can judge it for yourself because now the entire disputed call with Punch is available online (at the back of this). So go read it, or read the highlights here. The FSA still thinks it's insider trading, but the count of people confused by the whole thing is rising, and now includes the Merrill banker on the call. There's lots of insider traderiness on this side of the pond today too so we should talk about that in a bit. For now, though, two other things. One is quick - no one can resist one part of the call and I can't either so here it is: DAVID EINHORN: Hi, I’m sorry I didn’t get to see you when you were in New York. PUNCH CEO: No, no, we -- well, we’ve -- we’ve only had the chance to speak once, although we have seen [reference to Greenlight Analyst] a few times since then. DAVID EINHORN: Oh, you’re -- you’re -- you’re getting more than -- than I could help with anyway. So, this is good. PUNCH CEO: Okay. That’s fair enough. Well, one day we’ll get you around on a pub crawl around some English pubs. DAVID EINHORN: Oh, that sounds fun. PUNCH CEO: It is. You’re right. English readers: Is it? I just assumed that Punch Taverns are rather grim places, like TGI Friday's but with more ... punching? ... but maybe I'm totally off base here. Also, here is a hypothesis: vice investments do well because, for the same level of profitability, they get more analyst/investor coverage and enthusiasm. Wouldn't you rather go on a pub crawl instead of like a tour of an auto parts factory in Queens? Would that influence your stock recommendations / money allocations? Someone should do a study.