Looking for Investment Ideas? These Wall Street Heavyweights Just Gave You a Bunch

NEW YORK (TheStreet) -- Sell in May and go away -- or buy into the stocks Wall Street bigwigs such as Bill Ackman, Leon Cooperman and Larry Robbins are recommending.

This month is marked by a number of big-name events in investing, including the Berkshire Hathaway Annual Shareholders Meeting in Omaha, the Sohn Investment Conference in New York and the SALT Conference in Las Vegas. The industry's best and brightest have come out in masses and have had quite a bit to say about their favorite investments.

Looking for stocks to buy or industries for investing? Here's where hedge fund heavyweights think you may want to be betting.

Bill Ackman

At the Sohn Investment Conference, Bill Ackman made the case for platform companies -- businesses that execute acquisitions to increase their own value.

For example, he called Valeant (VRX) a "very early-stage" Berkshire Hathaway (BRK.A) (BRK.B). He also pointed to Platform Specialty Products (PAH) and Jarden  (JAH).

Ackman noted that since 2001, Jarden has achieved success as a well-managed consolidator of consumer products assets, generating a roughly 45 times return for shareholders. Nevertheless, by his assessment, investors have consistently underestimated the firm's earnings potential.

Why such a big to-do about a company that, as of Ackman's most recent holdings disclosure, isn't in his portfolio? Jarden's founder and executive chairman, Martin Franklin, is also at the helm of Platform Specialty Products, which Ackman does own.

Moreover, Ackman and Franklin are good friends. Franklin discussed their relationship in a January interview with Bloomberg, calling the Pershing Square founder an all-in investor. "I think he gets involved, for better or for worse, he gets involved in helping with strategy, giving his opinions, as opposed to making an investment and being a very passive holder," he said.

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