A Few Things (Bonus Edition): Sohn Investment Conference 2022

June 11, 2022

If you missed this week’s edition, it’s here.

This is a bonus edition covering this week’s Sohn Investment Conference. The Conference brings together some of the smartest minds in finance.

The Sohn Foundation funds ground breaking research, state-of-the-art technology, and programs to target cures and improve patient care.

This year, all the proceeds will support the Arc Institute.

A few videos from the Conference have been released on YouTube, I am sharing them below.

The legendary Stanley Druckenmiller speaking to John Collison:

A good twitter summary of what they covered:

JSC @JSCCapital

0/ Druckenmiller discussing his updated world view with @collision at the Sohn Conference. Since trying to ring the alarm bell on inflation last year he said what's surprised him is threefold: 1) Magnitude of inflation 2) The bubble burst w/ more vengeance (e.g., a lot of good

JSC @JSCCapital

0/ In a recent Talk w/ GS Druckenmiller discussed the current environment & said "this is the wildest cocktail I've ever seen in trying to figure out a roadmap. The recession we had was 5.0x the avg recession since WWII but it did it in 25% of the time.

Karen Karniol-Tambour, from Bridgewater Associates shared her views on why corporate profit margins are at risk, and why multiples in the US could come down. She thinks the market has only priced in the rates move, not the economic and earnings slowdown.

David Einhorn, from Greenlight Capital shared his views on Inflation and Gold:

Here’s the key bit from Einhorn on the FED (thank you @UnHedgedChatter)

Nancy Lazar spoke to Patrick O'Shaughnessy about the economy. That video hasn’t been publicly released but this 10-min interview from her, is a good summary:

Bottom Line: you should probably worry more about the inventory glut, and economic slowdown coming in the next few months than inflation. Companies who understand this are quickly adjusting their cost structure to get ahead of this. Jobs will be lost.

Thank you @UnHedgedChatter

In the long run, good news is that manufacturing jobs are coming back to America.

Have a great weekend.