Tag Archive

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

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

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

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