David Einhorn

David Einhorn

Last Update: 02-14-2017

Number of Stocks: 33
Number of New Stocks: 4

Total Value: $5,819 Mil
Q/Q Turnover: 7%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

David Einhorn Watch

  • New GuruFocus Feature Announced: ETFs in Gurus’ Portfolios

    (GuruFocus, July 31, 2009) GuruFocus is pleased to announce the creation of a new page that shows ETFs held in our Gurus’ portfolios. On the page, we list the number of Gurus who own the ETF, number of the Gurus who bought and sold the ETF in the past quarter, and the combined weightings of the ETF in Gurus’ portfolio.

    Spider Gold Shares (GLD), Spider S&P500 ( SPY), Financial Select Sector SPDR (XLF), iShares Russell 1000 Value Index Fund (IWD) are among the top ETFs owned by Investment Gurus whom we track.  


  • David Einhorn's Greenlight Capital Shareholder Letter

    David Einhorn's Greenlight Capital Shareholder Letter: Interesting move was going from $GLD for owning physical gold and storing it because "storage was cheaper than GLD fees".... kind of gives a bit more credence to all the gold commercials we see on TV. Also bought Dow Chemical (DOW) at $10 and sold at $12 "way too soon". It is a 5 page letter and worth the tie to read (click all images to enlarge). The quote at the end is simply the best.....read it to see it.

      


  • 10 Reasons Why a Stock Can Be Undervalued

    If you find a stock that you believe is undervalued, it is important to try to determine the reason for the undervaluation. As Buffett wrote about poker in his 1987 letter to shareholders, "If you've been in the game 30 minutes and you don't know who the patsy is, you're the patsy."

    Interestingly, some value investors, such as David Einhorn of Greenlight Capital, invert this process. Rather than first looking for undervalued stocks based on quantitative screens, for example, low multiples of price to earnings or price to book value, they first identify areas of the market where undervaluation is likely to be present and then search for good companies within that undervalued sector.  


  • David Einhorn: Recent Purchase Aspen Insurance Holdings Ltd., Recent Top Holdings Inlcude Pfizer Inc.

    (GuruFocus, July 16, 2009) There is a good ariticle in Bloomberg.com entitled “ Greenlight Holds Bullion, Buys Reinsurance Stocks” by Saijel Kishan. Bloomberg obtained a copy of the letter to investors by David Enihorn, Hedge Fund manager of Greenlight Capital Inc. Here are my notes and some background information:

    1. Einhorn’s Greenlight Capital LP fund gained 16.3 percent in the second quarter. YTD to the end of second quarter gain was 21.5 percent, boosted by investments in Ford Motor Co. debt. The fund lost 23 percent last year.  


  • In Treating Moody's Corp., Warren Buffett is Urged to Learn From Activisit Investor Bill Ackman and David Einhorn

    Find a good article on dealbreaker.com entitled: “Warren Buffett Could Use A Little Bill Ackman In Him”. The article argues Warren Buffett should use his influence as a significant shareholder of Moody’s to have the rating agency clear its acts. Here are just some of my notes. You are urged to read the original article.

    1. Warren Buffett is the most quote investor, asset allocator, and business manager of our times, but the author thinks he practice what he preached against in taking a passive stance with Moody’s: putting profit before ethics.  


  • 1Q09 Bill Ackman Top Holdings: Target Corp., EMC Corp., Wendy's Abby’s Group, VISA Inc., and Apartment Investment and Management

    Summary As of March 31, the top 5 holdings of Bill Ackman are: Target Corp. (NYSE:TGT), EMC Corp. (NYSE:EMC), Wendy's International Inc. (NASDAQ:WEN), VISA INC (NYSE:V), and Apartment Investment and Management Comp (NYSE:AIV)

    A Different Year for Bill Ackman  


  • Bloomberg Video on David Sokol and David Einhorn



  • Bill Ackman's Best Idea: Buy General Growth Properties

    NEW YORK , May 28 (Reuters) - Some of the country's biggest and best-known hedge fund managers on Wednesday shared their best investment and short-selling ideas with an audience of some 1,200 hedge fund executives. The annual Ira Sohn Investment Research Conference raises millions of dollars for pediatric cancer research, but its high wattage speaker list also moves stocks. Last year Greenlight Capital's David Einhorn predicted that Lehman Brothers had more troubles than they had let on, four months before the investment bank filed for bankruptcy Event speakers this year included William Ackman of Pershing Square Capital Management; Kynikos Associates' James Chanos; Paul Singer of Elliott Management; Lee Hobson of Highside Capital; Mark Kingdon of Kingdon Capital Management; and Stephen Mandel, chief executive of Lone Pine Capital.

    Continue to Read the Complete Story  


  • Einhorn calls AAA rating a curse, shorts Moody's

    SAN FRANCISCO (MarketWatch) -- David Einhorn, head of hedge-fund firm Greenlight Capital, called AAA credit ratings a curse and said he is betting against rating agency Moody's, during a speech at a closely watched investment conference on Wednesday.

    Einhorn said that many institutions with AAA ratings, including the U.S. government, turned that supposed benefit into a disaster by borrowing recklessly, according to a hedge-fund investor who attended the conference in New York and spoke on condition of anonymity.  


  • David Einhorn et al are telling clients the stock market rally won’t last

    May 19 (Bloomberg) -- Daniel Och had about 35 percent of his $20 billion of hedge-fund assets in cash during the first quarter because he suspects global stock markets will start falling again.

    “The world will not just bounce back to where it was,” Och, the 48-year-old chief executive officer of New York-based Och-Ziff Capital Management Group LLC, wrote last month in a letter to investors, referring to the gain of almost 35 percent in the Standard & Poor’s 500 Index since March 9. “We continue to believe that economic recovery will be a long process.”  


  • David Einhorn Q1 Portfolio: Buys Pfizer Inc, Hess Corp., Wyeth, Sells CF Industries Holdings Inc., Sears Holdings Corp., PattersonUTI Energy Inc.

    David Einhorn's Greenlight Capital was down 17.6% in 2008, not bad at all! He is already 11% until April 30. He bought a lot of new stocks. This is the Q1 portfolio update of Greenlight Capital. David Einhorn owns 74 stocks with a total value of $2.4 billion. These are the details of the buys and sells.

    New Purchases: AEO, BJS, CNW, DFS, EPL, HAR, HES, IPCR, JNY, KFN, LIZ, MSFT, MXGL, NKE, PFE, RE, WYE,  


  • John Paulson & David Einhorn Likes It Yellow

    Some hedge funds remain dazzled by gold. And the yellow metal's resilience during a rally in riskier assets suggests their bet might yet pan out.

    A who's who on Wall Street piled into gold-related investments over recent months. Paulson & Co., Greenlight Capital, Eton Park Capital Management, Hayman Advisors, Blue Ridge Capital Holdings ...  


  • David Einhorn Holds Onto Streettracks Gold (GLD) and Buys EMC Corp, Harman International and Pfizer

    (GuruFocus, May 11, 2009) In David Einhorn’s 1Q09 Letter, he stated that during and after the March 2009 recovery, he “exited a number of long positions and once again added to our short exposure in financial institutions (and one quasi-financial institution). We also institued new short positions in several REITS.”

    The effectiveness of new trading activities remains to be seen. All we want to say is that his equity portion of the portfolio is doing really good. Year-to-date, his 4Q09 long positions would have returned 20% vs. S&P 500’s barely break-even returns. His top ten positions and their YTD change are listed below:  


  • David Einhorn Q1 Letter: Added to short exposure in financial institutions

    David Einhorn's Greenlight Capital was up 4.4% in the first quarter, while the market was down -11.6%. "During the recovery we exited a number of long positions and once again added to our short exposure in financial institutions (and one quasi-financial institution). We also instituted new short positions in several REITs."

    Read the complete letter  


  • David Einhorn Buys streetTRACKS Gold, Allegheny Energy Inc., CommScope Inc., Sells Ameriprise Financial Inc., Kinross Gold Corp., Pomeroy IT Solutions Inc.

    David Einhorn is a smart investor. He lost 20% in his funds last year, first down year since in business from 1996. In his shareholder letter, he wrote: "We bought a lot of things across the corporate capital structure. We ought bank debt, we bought high yield bonds... we bought gold and select foreign currencies. The number of securities in the portfolio grew dramatically during the quarter as we added many small positions in the things that we believed to be undervalued and good long term investments." These are the details.

    David Einhorn buys streetTRACKS Gold, Allegheny Energy Inc., CommScope Inc., Market Vectors Gold Miners ETF, MEMC Electronic Materials Inc., CF Industries Holdings Inc., The Dow Chemical Company, Aspen Insurance Holdings Ltd., , JA SOLAR HOLDINGS, CO., LTD. - ADS, Focus Media Holding Ltd., Cadence Design Systems Inc., PattersonUTI Energy Inc., Carpenter Technology Corp., Health Net Inc., Foster Wheeler Ltd., McDermott International Inc., Patriot Coal Corp., Western Digital Corp., WilliamsSonoma Inc., Colonial Properties Trust, Smithfield Foods Inc., Huntsman Corp., AerCap Holdings N.V., Corning Inc., Duke Realty Corp., Amkor Technology Inc., Brandywine Realty Trust, General Cable Corp., Oshkosh Truck Corp., Belden Inc., Crosstex Energy Inc., Aircastle Ltd., Liberty Media Corp. Interactive Common S, Supervalu Inc., Anixter International Inc., Teekay Corp., Sunstone Hotel Investors Inc., Sears Holdings Corp., Danaos Corp., MDC Partners Inc. CL A, Sinclair Broadcast Group Inc., sells Ameriprise Financial Inc., Kinross Gold Corp., Pomeroy IT Solutions Inc. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, Greenlight Capital Inc. David Einhorn owns 63 stocks with a total value of $2 billion. These are the details of the buys and sells.  


  • 2008 Hedge Fund “Dear Investor” Letters

    About two weeks ago, many hedge funds began releasing their end-of-year investor letters. In the spirit of Warren Buffet, who made the dear investor letter famous, these letters are usually insightful, humorous, and really interesting for non-professional investors. This year, it’s these letter might even provide some reassurance as many professionals were stung badly by the turmoil in the financial markets.

    Generally speaking, only hedge fund investors are allowed to read these yearly updates as there are strict regulations on publicly advertising their funds. If you’re resourceful enough, however, it is possible to get a peak at some of the more famous fund managers’ letters. I’ve done some of the heavy lifting and collected a few particularly interesting ones in this post. I’ll summarize the points I think are most interesting but feel free to click the headings for links to the whole letter.   


  • Greenlight Founder Takes Grandfather’s Advice on Gold

    Danid Einhorn buying gold for the first time...

    [www.bloomberg.com]  


  • the end of the financial world as we know it

    Awesome op-ed piece in NYTimes 1/3/09 co-authored by Einhorn.

    part 1:  


  • David Einhorn Buys EMC Corp., Kinross Gold Corp., Ticketmaster, Sells Covidien Ltd., Microsoft Corp., Patriot Coal Corp.

    David Einhorn profited from the falls of Wall Street brokers. But he was also hurt by the recent market crash. Now he is getting out healthcare stocks and moving into techs. David Einhorn owns 24 stocks with a total value of $1.4 billion. These are the details of the buys and sells during the third quarter.

    David Einhorn buys EMC Corp., Kinross Gold Corp., Ticketmaster, Pomeroy IT Solutions Inc., sells Covidien Ltd., Microsoft Corp., Patriot Coal Corp., Sears Holdings Corp., Tyco Electronics Ltd., UnitedHealth Group Inc., Walgreen Company, WellPoint Inc. during the 3-months ended 09/30/2008, according to the most recent filings of his investment company, Greenlight Capital Inc.  


  • David Einhorn Buys Dr Pepper Snapple Group Inc., TERADATA CORP, Covidien Ltd., Sells Discover Financial Services, SAIC Inc., MBIA Inc.

    Greenlight Capital's David Einhorn is a smart guy. He has been shorting financials such as MBIA, Lehman Brothers etc. These are his buys and sells during the second quarter. David Einhorn owns 29 stocks with a total value of $2.6 billion.

    David Einhorn buys Dr Pepper Snapple Group Inc., TERADATA CORP, Covidien Ltd., UnitedHealth Group Inc., FIFTH STREET FINANCE CORP, Republic Airways Holdings Inc., VeraSun Energy Corp., sells Discover Financial Services, SAIC Inc., MBIA Inc., Flamel Technologies S.A., US BioEnergy Corp. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Greenlight Capital Inc. David Einhorn owns 29 stocks with a total value of $2.6 billion. These are the details of the buys and sells.  


  • David Einhorn: Private Profits and Socialized Risk

    David Einhorn talk at Grant's Spring Investment Conference. "And I'll tell you a little secret: These levered balance sheets hold some things that are dicier than government agency securities..."

    "...finally I 'll offer a few word about Lehman Brothers, another stock whihch greenlight is short..."  


  • David Einhorn: Ira W. Sohn Investment Research Conference Speech -- Accounting Ingenuity

    David Einhorn Speech Ira W. Sohn Investment Research Conference: I appeared at this conference six years ago and joked that my wife, while trying to help me prepare my presentation of the Allied Capital analysis, had a hard time staying awake.

    This is pretty ironic, since the ensuing fallout from that speech has cost us a substantial amount of sleep. Over the past six years I have learned a lot and grown a little, and formed some strong views about Wall Street regulation and the muzzle it often places on free speech.  


  • David Einhorn - Wealthtrack

    David Einhorn appeared as a guest on this weeks Wealthtrack. He indicated that a significant proportion of his portfolio was invested outside the US and recommended two overseas stocks. His top pick was Arkema (ARKAY), the French chemical company. The second pick was a Spanish investment or holding company whose name I could not hear clearly (sounded like "Criteria Quisha").

    Neither of these companies seems to appear in the Gurufocus listings for David Einhorn. Nor does GFs list of holdings suggest that he has a significant number of overseas stocks. Is this because he has very recently acquired the stocks and therefore the new holdings have not been disclosed yet? Or was Einhorn recommending stocks that he does not own? Or are there different rules for the disclosure of foreign stocks that make them more difficult to track?  


  • David Einhorn Buys Walgreen Company, Health Management Associates Inc., Discover Financial Services, Sells Ternium S.A., Children's Place Retail Stores Inc.

    David Einhorn is President of Greenlight Capital (a value-oriented investment advisor). Through August 2006, Einhorn had achieved annual returns of 29% since starting Greenlight in May of 1996. These are his buys and sells during the fourth quarter. David Einhorn owns 23 stocks with a total value of $2.9 billion.

    David Einhorn buys Walgreen Company, Health Management Associates Inc., Discover Financial Services, TRIPLE-S MGMT CL B, GUARANTY FIN GROUP, sells Ternium S.A., Bausch & Lomb Inc., Washington Group International, Children's Place Retail Stores Inc. during the 3-months ended 12/31/2007, according to the most recent filings of his investment company, Greenlight Capital Inc. David Einhorn owns 23 stocks with a total value of $2.9 billion. These are the details of the buys and sells.  


  • Valuing mortgage bonds: Don't ask, don't tell

    Hedge fund guru David Einhorn says a lot of people are afraid to offload their mortgage-backed investments for fear of discovering what they're really worth.

    Ever hear of a 20/90 bond? According to David Einhorn, head of hedge fund Greenlight Capital, that's a security for which would-be buyers are bidding 20 (that is, $200) and would-be sellers are offering 90 ($900).  


  • David Einhorn Buys Helix Energy Solutns, Employers Holdings, Hewitt Associates Inc., Sells American Home Mortgage Investments, Fidelity National Financial In, Hospira Inc.

    Hedge fund manager David Einhorn looks for mispriced stocks in market. These are his buys and sells during the first quarter. David Einhorn owns 19 stocks with a total value of $1.9 billion.

    David Einhorn buys Helix Energy Solutns, Employers Holdings, Hewitt Associates Inc., sells American Home Mortgage Investm, Fidelity National Financial In, Hospira Inc., Kbr Inc, New Century Financial Corp., Radisys Corp., Western Union Compan during the 3-months ended 03/31/2007, according to the most recent filings of his investment company, Greenlight Capital Inc. David Einhorn owns 19 stocks with a total value of $1.9 billion. These are the details of the buys and sells.  


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