HIGHLIGHTS: Ira Sohn Investment Conference in New York

Wed May 8, 2013 4:01pm EDT
 
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NEW YORK May 8 (Reuters) - High-profile money managers raised red flags on the loose monetary policies taking place around the world at the annual Ira Sohn Investment Conference, a closely watched charitable event, on Wednesday.

The event, which raises money for pediatric cancer research, is where big-name hedge fund managers come to share their "best ideas" with other wealthy investors.

The Federal Reserve's monetary policies, with its monthly purchases of $85 billion in Treasuries and mortgage securities, came in for sharp criticism. Money managers touched a wide variety of investment topics.

Managers are gathering at a time the hedge fund industry is again underperforming the broader market. The average fund is up about 4.4 percent through April, compared with a 14 percent gain for the Standard & Poor's 500 index.

Here are selected comments from the conference:

STEVEN EISMAN - Eisman, the founder and portfolio manager of Emrys Partners, who is known for shorting securitized subprime home mortgages, said he is positive on the U.S. housing market.

Eisman said he likes Lennar Corp, Forestar Group Inc and Standard Pacific Corp. He said he is also a fan of Ocwen Financial, calling it "completely mispriced" and the "most powerful" play on housing in the entire sector.   Continued...