Real Money's Carleton English and James Passeri are keeping readers up to date with the latest news from Wednesday's annual Sohn Investment Conference, with the market outlook of some of Wall Street's most influential investors.

Highlights from the morning's "Next Wave" segment included a presentation by David Rosen, a former investor with SAC Capital, on his firm's long position in Kraton Performance Polymers (KRA) - Get Report . Nick Danaher, founder of Domando Capital, and Precocity Capital's Nick Tiller presented their bull takes on TripAdvisor (TRIP) - Get Report and Royal Dutch Shell (RDS.A) , respectively. Meanwhile, Genevieve Kahr of Ailanthus Capital Management went short on inflight Internet provider Gogo (GOGO) - Get Report , citing mounting competitive headwinds, and characterizing the company as "a minnow swimming with sharks."

The first session of the New York conference kicked off at noon and included Glenview Capital's Larry Robbins, Muddy Waters Capital's Carson Block, and John Khoury, founder of Long Pond Capital.

The second session, beginning at 1:55 p.m., includes Starboard Value CEO Jeffrey Smith, VR Capital's Richard Deitz, Duquesne Family Office's Stanley Druckenmiller, and DoubleLine Capital CEO Jeffrey Gundlach.

The final round of speakers kicks off at 4 p.m. and includes PointState Capital's Zachary Schreiber, Commonwealth Capital's Adam Fisher, and David Einhorn, founder and president of Greenlight Capital. And the day wraps up with a presentation by Kynikos Associates' James Chanos.

The Sohn Conference is often a hub of market-moving intelligence. At last year's presentation by David Einhorn, his bearish take on the fracking industry helped send shares of Pioneer Natural Resources (PXD) - Get Report into a 4% slide on the day.

  • The conference went into intermission until the next session at 1:55 p.m. ET.

1:17 p.m. ET

Venture capitalist Chamath Palihapitiya presented his bullish take on Amazon, suggesting the e-commerce giant has formed somewhat of a monopolistic position in Silicon Valley as startups gravitate toward its many services.

Based largely on Amazon's proprietary cloud technology, Amazon Web Services, Palihapitiya said a "multi-trillion-dollar monopoly could be being overlooked" in CEO Jeff Bezos' sprawling empire.

The founder and CEO of Social Capital projected 17% a year in growth of units sold over next 10 years.

Meanwhile, Amazon Web Services, or AWS, essentially represents "a tax on the Internet," said Palihapitiya, because tech companies are becoming increasingly forced to use the cloud to compete with rivals.

"He is going to invent things," he said of Bezos' grasp on two so-called "monopoly customers": Amazon's retail shoppers and AWS clients. Bezos "has been telling us in as many ways possible that he is building the most durable company in the world," he said, emphasizing the CEO's revamping process is "just beginning."

"If you believe in the Internet, you have to believe in Amazon," he said in closing.

1:13 p.m. ET

There's a lot of talk about the decline of the hotel industry as Airbnb continues to take travelers' dollars, but John Khoury of Long Pond Capital sees things differently. While some hotels may be on the decline, there is tremendous value elsewhere, which is why he spoke of the growth potential he sees in Hyatt Hotels. The stock, which currently trades in the $40s, could go as high $79, Khoury said.

Khoury refuted the notion that hotels are out of favor and pointed out that there is tremendous variability in the hotel space -- yet they all trade the same. Hyatt, Khoury said, has high-quality assets and represents the higher end of leisure of business travel, which should be well-insulated from threats from Airbnb. (Lower-quality hotels will not fare as well.)

Also not hurting Hyatt: it is significantly less levered -- by more than 60% -- than its low-end peers. (Khoury declined to name names on stage but said he'd be happy to talk about the weaker competition offstage.)

Looking to the fundamentals, Khoury pointed out that the company has grown EBITDA by 66% over the last six years. The company owns several trophy properties but it also gets revenue from third parties to be part of the Hyatt system. On this last point, Khoury invoked Warren Buffett, saying the ideal business is one that takes no capital and grows.

And if investors needed any other reason to invest in the hotel operator, Khoury pointed to the famed Pritzker family, which founded the hotel chain. Under their leadership, the company does not give guidance, which means that it is managed for the long term. Khoury also noted that the family has been buying back stock and that the public float of the company has decreased by 40%.

12:43 p.m. ET

  • Block Is Short Bank of the Ozarks (OZRK)

Shares of Bank of the Ozarks are falling in midday trading after Muddy Waters' Carson Block stepped up at Sohn and revealed his fund's short position in the company.

"It is cracking right now ... their balance sheet is under severe pressure," Block said, highlighting the bank's difficulties in funding its rapidly expanding loan book. "They are getting pushed into making bigger and bigger acquisitions," he added. "The other scary part of this model is the loan book itself."

According to Muddy Waters, the Little Rock, Ark., bank has 35% of its loan portfolio in construction loans, which are "really risky," Block said, as developers have a habit of drawing excessive cash and leaving banks with unfinished projects.

This is especially true because the bank's loan-to-value projections on its construction lending are inordinately weighted on finished projects and not "bets," which often do not require personal guarantees from contractors, Block said.

Ozarks may also be running into a headwind with Basel III regulations in how it weights its risk-to-value metrics in estimates to investors, Block said.

"It's getting harder for them to grow earnings," he said. "Funding costs have gone up," forcing the company to pay about twice the book value of banks that it is acquiring to stave off the balance-sheet pressure of its expanding loan book, he said.

By Muddy Waters' estimates, Bank of the Ozarks has too great a lending concentration in real estate and construction and will be unable to adjust to its "unsustainable" earnings growth.

12:36 p.m. ET

  • Robbins: Checking Up on Last Year's Picks

In his opening remarks, Larry Robbins of Glenview Capital Management warned that his presentation, which he entitled "Get a Grip," was not going to include anything actionable or tweetable. Instead, Robbins made the distinction between investors and traders and urged investors to stay the course, despite eight months of bumpy returns throughout the broader market.

Robbins also took a quick swipe at billionaire investor Warren Buffett and others who have been critical of hedge funds, saying, "If you're going to criticize hedge funds for being short term, you can't criticize us for our short-term performance."

Despite Robbins' warning that his presentation wasn't going to be actionable, he revisited his choices at last year's Sohn conference: his long cases for AbbVie (ABBV) - Get Report , which is down 5% over the last year, and Brookdale Senior Living (BKD) - Get Report , which is down 48% over the same period. Despite the drops, he still believes there is tremendous opportunity in those plays, given the fundamentals of both companies. In fact, he said that entering at the depressed stock price makes the investment in both companies all the more compelling.

In the case of AbbVie, Robbins pointed out that the drugmaker was able to grow earnings by 29%; the only thing that has gone wrong is the slight drop in the stock price. As for Brookdale, Robbins acknowledged difficulty in the industry and changes to management, but said the fundamentals are sound and do not merit the 50% drop in stock price.

Despite a difficult environment, Robbins offered the following advice to investors: "What's the lesson? Just hang on tight."

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See full coverage from the Sohn Investment Conference here. The event brings together some of the top minds in the financial world for a day of sharing investment ideas. It is held in honor of Ira Sohn, a Wall Street professional who lost his battle with cancer when he was 29. Proceeds from the New York conference, as well as other conferences the Sohn Conference Foundation holds, are dedicated to the treatment and cure of pediatric cancer and other childhood diseases. The foundation has so far raised more than $65 million.