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
David Einhorn: Half A Silly Stock Price Is Not Deep Value
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
David Einhorn Top 10 Holdings – Latest 13F, Buys SLV, TECK, BHF
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
David Einhorn: Make Sensible Investments In Companies Based On Earnings, Cashflows, And Assets, And Not On Top Line Story Stocks
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
David Einhorn: Losing Money When You’re Holding High-Performing Winners
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
David Einhorn: Sometimes You Just Need To Own The ‘Now’ Stocks
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
David Einhorn Top 10 Holdings (Q2 2021)
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
David Einhorn: Value Stocks Are Starved Of Capital
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
David Einhorn’s Top 10 Holdings (Q1 2021)
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
David Einhorn: Has The Tide Turned From Growth to Value?
In his latest Q1 2021 Shareholder Letter, David Einhorn discusses the Fed, performance drag on the short side, what fuelled the GME short squeeze, and indications that the tide has turned from growth to value. Here’s an excerpt from the letter: Has the tide turned from Growth to Value? After … Read More
David Einhorn’s Top 10 Holdings (Q4 2020)
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
David Einhorn: The 3 Types Of Valuation Indifferent Investors
In his latest Greenlight Capital Q4 2020 Shareholder Letter, David Einhorn discusses why stocks become overvalued, citing three types of ‘valuation indifferent investors’ who don’t consider valuation as part of their investment process. Here’s an excerpt from the letter: This begs the question as to why a stock might trade … Read More
David Einhorn: One Of My Biggest Investing Lessons From ‘The Druck’
At the Value Investing Congress in 2009, David Einhorn gave a presentation titled – Liquor Before Beer… In the Clear”, in which his main topics included the two basic problems on how government is designed. He also discussed one of the biggest investing lessons he learned from Stanley Druckenmiller. Here’s … Read More
David Einhorn’s Top 10 Holdings (Q3 2020)
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
David Einhorn: Focus On Low ROEs In Capital Intensive Businesses
In David Einhorn’s 2006 speech at the Value Investing Congress he provided some great insights on the importance of focusing on low ROEs in capital intensive businesses. Here’s an excerpt from the speech: Coming back to my main theme. I believe it is very important to analyze ROE and marginal … Read More
David Einhorn: 10 Signs The Bubble Has Already Popped
In his latest Q3 2020 Letter, David Einhorn discusses why he believes September 2, 2020 was the top and the bubble has already popped, which means investor sentiment is in the process of shifting from greed to complacency. Here’s an excerpt from the letter: As for the question of sanity, … Read More
David Einhorn’s Top 10 Holdings (Q2 2020) – Plus Top Buys & Sells
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
David Einhorn: One Of The Lessons I Learned From Joel Greenblatt
In his book – Fooling Some Of The People All Of The Time, David Einhorn discussed the importance of exiting a position when you think you’re wrong, relative-return versus absolute-return investing, and one of the lessons he learned from Joel Greenblatt when it comes to position sizing his portfolio. Here’s … Read More
David Einhorn: We Lost 37% On Our Longs, Made 8% On Our Shorts And Made 8% In Macro In Q1
David Einhorn has released his Q1 2020 results in which he discloses that The Greenlight Capital funds (the “Partnerships”) returned -21.5% in the first quarter compared to -19.6% for the S&P 500 index. After a good start in 2020 he explained the events of the quarter as follows: We began … Read More
David Einhorn: Top Buys, Top Sells (Q4 2019)
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