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
David Einhorn: Top 10 Holdings (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
David Einhorn: Growth Has Knocked The Stuffing Out Of Value Last Three Years (106% vs. 17%)
In David Einhorn’s most recent investor letter (Q4 2019) he highlights the fact that Greenlight Capital Funds have returned 13.8% in 2019 compared to 31.5% for the S&P 500. He also discusses the significant outperformance of growth stocks vs value stocks over the past three years, saying: We tend to … Read More
David Einhorn: Q3 2019 Top 10 Holdings
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 Bear Case For Netflix
In his latest Q3 2019 Shareholder Letter, David Einhorn, discusses how he successfully shorted Netflix, and his ongoing bear case for the company. It provides a great insight into how top investors analyse these companies. Here’s an excerpt from the letter: Our Netflix (NFLX) short was another material contributor as … Read More
David Einhorn: Our Research Process Reverses The Analytical Framework That Most Traditional Value Investors Use
We’ve just been re-reading David Einhorn’s book – Fooling Some of the People All of the Time, A Long Short Story, in which he discusses how Greenlight’s research process reverses the analytical framework that most traditional value investors use. Einhorn also provides insights into his portfolio construction. Here’s some excerpts … Read More
David Einhorn: Q2 2019 Top 10 Holdings
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: Q1 2019 Top 10 Holdings
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David Einhorn: Q3 2018 Top 10 Holdings
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: Top 10 Holdings, New Buys, Sold Out Positions
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: Parallels Between Tesla And Lehman Brothers
In his latest shareholder letter, David Einhorn makes some very interesting comparisions between Telsa and the Lehman Brothers collapse, saying: “In thinking through TSLA more, it brings us back to Lehman, which went bankrupt 10 years ago. One of our key insights into Lehman was that the company had faced … Read More
Einhorn’s Worst Year Ever: Greenlight Losses Swell to 26%
Bloomberg recently reported that David Einhorn’s hedge fund Greenlight Capital has had its worse year ever saying: Greenlight Capital, the hedge fund led by David Einhorn, lost 1.3 percent in September as U.S. stocks edged higher. Greenlight’s main fund declined 26.1 percent in the first three quarters of 2018, on … Read More
David Einhorn: Greenlight Capital’s Big August Loss Compounds 2018 Woes
Here’s an article at Institutional Investor which discusses David Einhorn’s ongoing underperformance. According to this article at Reuters – Billionaire investor David Einhorn’s Greenlight Capital hedge fund, whose bets on car companies General Motors and Tesla both moved against him in August, lost 7.6 percent this month, leaving the fund … Read More