Category Archive

In his recent Q4 2022 Letter, David Einhorn explained how he benefited by shorting so called ‘innovation’ stocks. Here’s an excerpt from the letter: We are nothing if not persistent. In March of 2021, we again believed that the bubble had popped… this time correctly. We created our third bubble … Read More

In his recent Q4 2022 Letter, David Einhorn explained why a ‘debilitated’ value investing industry is great news for his firm. Here’s an excerpt from the letter: 2022 was an exceptionally good year. In many ways it was our best ever and is most comparable to 2001, the year after … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

During his recent interview on The End Game Podcast, David Einhorn explains why value investing will continue to be a very successful strategy. Here’s an excerpt from the interview: Einhorn: Sure, I welcome the opportunity to elaborate on what I said and what I meant, I quibble only slightly with … Read More

In his latest Q3 2022 Letter, David Einhorn explains why these are ‘Very Strange Times’. Here’s an excerpt from the letter: It isn’t entirely clear whether we are, or are not, in a recession. The first two quarters of 2022 had negative GDP growth, which usually marks a recession. Even … Read More

In his recent interview with Bloomberg, David Einhorn explained why value investing may never come back. Here’s an excerpt from the interview: Einhorn: Relating to value investing, I don’t know that it ever comes back. You know there have been serious changes to the market structure and pretty much most … Read More

In his latest Q2 2022 Letter, David Einhorn discusses why investors should invest in companies that are buying back stock during bear markets. Here’s an excerpt from the letter: Einhorn: The market is still dominated by the types of investors who we described in our year-end 2020 letter: those that … Read More

In his latest Q2 2022 Letter, David Einhorn explains why his new position in Twitter Inc (TWTR) gives him 50-50 odds on something that should happen 95%+ of the time. Here’s an excerpt from the letter: In April, Musk agreed to buy TWTR for $54.20 per share. Then, in May, … Read More

In his recent interview with the Sohn Conference Foundation, David Einhorn discussed what a decade of structural under-investment means for investors. Here’s an excerpt from the interview: Einhorn: Our supply problems aren’t limited to a short-term inability to get goods from China but extend to a decade of structural under-investment … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his latest Q4 2021 Shareholder Letter, David Einhorn discusses why half a silly stock price is not Deep Value. Here’s an excerpt from the letter: A basket of bubble stock shorts contributed during the quarter. We have often remarked that twice a silly stock price is not twice as … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his recent interview with CNBC, David Einhorn recommended investors make sensible investments in companies based on their earnings, cashflows, and assets, and not in top line story stocks. Here’s an excerpt from the interview: By the way I think that growth is just a generally… is a component of … Read More

In his latest Shareholder Letter, David Einhorn discusses the frustration associated with owning two of the companies in his portfolio, GRBK and BHF, that have performed above expectations, but their share price it falling. Here’s an excerpt from the letter (H/T ValueWalk): What we (and we assume you) find frustrating … Read More

This article on FT discusses one of David Einhorn’s comments from the recent Simplify ETF’s event in which he discusses the need to own the ‘now’ stocks even though he doesn’t understand why they’re good investments. Here’s an excerpt from the article (h/t to Cundhill Capital): We were long a retailer … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his latest Q2 2021 shareholder letter, David Einhorn discussed why he believes inflation is not transitory saying, “we remain positioned on the other side, as there are and we believe there will continue to be too many dollars chasing too few goods and services.” He also discussed why value … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More