Here are the best ideas from some of the world's greatest investors

While Paul Singer, Kyle Bass, and Stan Druckenmiller got the headlines, there were in total 14 worthwhile speakers at yesterday's Ira Sohn conference. Though many of the themes were unsurprising, it is nonetheless useful to compare your own views to those of these professional money managers who are now bludgeoned daily by the 'idiot-maker' rally... of course, that is, until they are proved 100% correct.

Jones Trading Recap of Ira Sohn Conference  (Yousef Abbasi)
Paul Singer - Elliot Management

• Singer talks about the global banking environment, notes that it is opaque and very highly leveraged.
• He says that Value-at-Risk (VAR) is not the appropriate measure for a financial institution's health.
• He notes that the average person is not feeling the recent equity rally, says they are worried about jobs, paying more for life necessities.  This distortion is furthering class warfare.
• On bonds, they are mispriced in the US, UK and Japan.  He does not say short bonds, but says that there are distortions in the market.

Kyle Bass - Hayman Capital

• Stock Idea - Long DEXO - Company is a re-org but has a solid turnaround plan that should take shape over the next three years.  He says that it is a cheap option, although it is risky.  He says debt should trade to par and that shares could rise 5x.  (more)

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