Hedge fund managers have become the modern-day version of E.F. Hutton. You know, when David Einhorn or William Ackman or David Tepper or some other hedge fund luminary talks, people listen . . . and sometimes the stocks react violently.
This phenomenon is periodically played out these days at high-profile conferences, like the recent Ira Sohn charitable event or the SkyBridge Alternatives Conference (also known as SALT) in Las Vegas.