Donating to charity is a tax deduction for most people, but the good these organizations do cannot be discounted. Non-profit companies that stage charity events, are equally important. They make it easy for the people who can afford to give reach their favorite charities, while providing an additional benefit or incentive, like a dinner or conference. The goal is the same and the benefit is just as great. Latey, many of these events have featured hedge fund managers giving advice, like the Invest for Kids
event in Chicago and the Great Investors’ Best Ideas event in Dallas.
The 5th Annual Great Investors’ Best Ideas Conference
The Great Investors’ Best Ideas event in Dallas is ultra-private and very exclusive. According to its website
, "the Great Investors’ Best Ideas Foundation (GIBI) is a 501(c)(3) non-profit organization founded in 2007 by John Neill and Fredrick “Shad” Rowe." Its purpose is to "create a premier investment event in Dallas to benefit causes they are passionate about, The Michael J. Fox Foundation for Parkinson’s Research and the Vickery Meadow Youth Development Foundation." To do this, it holds the annual event "to enlighten, inspire and inform attendees while raising much-needed funds for two worthy causes." On average, the event raises $1M for Neill and Rowe's favorite causes.
Bill Ackman is Bullish on Lowes $LOW
This year, the event boasted several prominent people from the hedge fund world, including Bill Ackerman
of Pershing Square Capital Management
, Bruce Berkowitz
of Fairholme Capital
, David Einhorn
of Greenlight Capital
, John Kleinheinz
of Kleinheinz Capital Partners
, T. Boone Pickens
of BP Capital Management
and Michael Price
of MFP Investors
. Bloomberg spoke with a person who attended. Reportedly, Bill Ackman recommended investors buy shares of Lowes Inc (LOW)
. The company is trading at $22.48 a share, 17% below its 52-week high, on one-year estimates of $23.50.