The big apple and the hedge-fund haven Greenwich, Conn., were well-represented on the dais. The normally reticent hedge-fund manager Steve Mandel of Lone Pine Capital threw out a passel of stocks that he finds under-valued, including McDonald's (MCD), Abbott Laboratories (ABT) and Monsanto (MON), now a biotech leader.

The big apple and the hedge-fund haven Greenwich, Conn., were well-represented on the dais. The normally reticent hedge-fund manager Steve Mandel of Lone Pine Capital threw out a passel of stocks that he finds under-valued, including McDonald's (MCD), Abbott Laboratories (ABT) and Monsanto (MON), now a biotech leader.

The big apple and the hedge-fund haven Greenwich, Conn., were well-represented on the dais. The normally reticent hedge-fund manager Steve Mandel of Lone Pine Capital threw out a passel of stocks that he finds under-valued, including McDonald's (MCD), Abbott Laboratories (ABT) and Monsanto (MON), now a biotech leader.

Perhaps his most intriguing idea was Green Mountain Coffee Roasters (GMCR), a high-flying stock about which Barron's has expressed skepticism. Mandel said that Lone Pine had considered shorting it until consumer surveys and trade-channel checks done by the fund convinced him of the company's huge growth prospects. His thesis: Green Mountain's installed base of coffee machines in U.S. homes figures to grow mightily in the years ahead, leading to surging demand for its single-serve, gourmet coffee. He bases his optimism on the penetration rates of espresso machines in European homes.

The picks of hedge-fund manager David Einhorn of New York fund Greenlight Capital were surprisingly sedate, given his penchant for big macro bets (think gold these days). He touted U.K. wireless telephone giant Vodafone (VOD.U.K.) as being undervalued in view of its 45% ownership of Verizon Wireless.

He also contended that Delta Lloyd (DL.Netherlands), a Dutch general insurer partially sold in an IPO last fall by the British insurer Aviva, is being quoted at just half of its true value.

New York hedge-fund manager Richard Perry of Perry Partners, which has had only one down year (2008) in the past two decades, finds a lot to like in HeidelbergCement (HEI.Germany). Prices for its basic products have been going up for some time. Stimulus money is starting to flow into roads and other construction projects in the U.S., and Heidelberg should benefit from its enviable American quarry and facilities holdings. The result should be substantial free-cash-flow generation and a sharp rise from its trough valuation levels.

Rounding out the east coast contingent was value investor Ricky Sandler of New York's Eminence Capital. He recommended buying the global professional content and database provider Reed Elsevier (REL.U.K.) and U.K. gambling company Ladbroke (LAD.U.K.). The latter's network of betting shops in the U.K. is "a license to print money, as long there aren't too many ties in England's Premier League costing Ladbroke the vigorish," he said.