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Here's the big afternoon buzz on Delivering Alpha

People are buzzing behind the scenes at the Delivering Alpha conference presented by CNBC and Institutional Investor.

Much of the afternoon chatter outside the main ballroom is focusing on hedge fund titan John Paulson's big bet on housing and comments earlier in the day from government officials indicating that big banks are in the crosshairs.

There's also big anticipation for the afternoon events, which will feature Trian Fund Management's Nelson Peltz, and activist investor Carl Icahn.

NetNet's Jeff Cox gives a quick rundown on the buzz in the air.

_ By CNBC's Jeff Cox. Follow him @JeffCoxCNBCcom on Twitter.