HIGHLIGHTS: Ira Sohn Investment Conference in New York
NEW YORK May 8 (Reuters) - High-profile money managers raised red flags about the loose monetary policies taking place around the world at the annual 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.
History also has shown that some of the best ideas of managers don't look so good a year later. A case in point is Apple, which Greenlight Capital's David Einhorn praised last year but has fallen 17 percent since last year's conference.
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. Continued...