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☆ Greenlight's David Einhorn builds new stake in this gambling name. Here's what else he bought
▼ + stars: | 2024-04-24 | by ( Adam Jeffery | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn continued to pick up new stocks in the first quarter, including Penn Entertainment , as the longtime value investor struggles to find opportunities in the volatile market. He established the stake at an average cost of $22.69 per share, but the stock has fallen to $17.44 as of Wednesday. Still, Einhorn said sports betting, if executed right, could take the shares much higher. "Were the market to credit PENN with merely 15% of DraftKings' value, that segment alone would be worth $20 per share." Q4 buyer's strike Einhorn had stopped building new stock positions at one point in the fourth quarter, saying he was on a "buyer's strike" due to worries about intensifying geopolitical risks.

Persons: Greenlight Capital's David Einhorn, Einhorn, PENN, he's, Greenlight, — CNBC's Leslie Picker Organizations: Penn Entertainment, CNBC, Barstool Sports, Cornell grad, Greenlight Capital, HP, Roivant Sciences, Liberty Global

☆ A wiser Greg Coffey, Elliott's Etsy love, and a return to fundamentals: A rundown of the hedge-fund industry's annual best-pitch conference
▼ + stars: | 2024-04-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe smart money gathered in Manhattan on Wednesday didn't spend their time pitching artificial-intelligence venture bets or bitcoin-linked trading products. At this year's Sohn conference, some of the biggest names in hedge funds — such as Greenlight's David Einhorn, Elliott's Jesse Cohn, and Kirkoswald's Greg Coffey — preached fundamentals and restraint. Even hedge funds that are constantly stirring the pot, such as Bridgewater and Paul Singer's Elliott Management, were even-keeled. The activist investor, who's become a recurring nightmare for anxious CEOs across the country, is not looking to burn anything down or start an M&A spree.

Persons: —, year's Sohn, Greenlight's David Einhorn, Jesse Cohn, Greg Coffey —, Einhorn, Elon Musk's Tesla, Greg Coffey, Oz, Moore —, Coffey, Paul Singer's Elliott, Ray Dalio, Karen Karniol, Elliott, Marc Steinberg, who's, You've, you've Organizations: Service, Business, Solvay, Paul Singer's Elliott Management, Bridgewater Locations: Manhattan, Belgium, Belgian, GLG, London, New York, Bridgewater, China

☆ Greenlight's David Einhorn: The future of value of investing is dead
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreenlight's David Einhorn: The future of value of investing is deadDavid Einhorn, president at Greenlight Capital, and CNBC's Scott Wapner join 'Power Lunch' to discuss his thesis behind buying shares of European chemicals company Solvay, his outlook on value investing, and more.

Persons: Greenlight's David Einhorn, David Einhorn, CNBC's Scott Wapner Organizations: Greenlight, Solvay

☆ Greenlight's David Einhorn breaks down why he believes the market is 'fundamentally broken'
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreenlight's David Einhorn breaks down why he believes the market is 'fundamentally broken'David Einhorn, president at Greenlight Capital, and CNBC's Scott Wapner join 'Power Lunch' to explain why he believes the market is broken, whether he believes markets are in a bubble, and more.

Persons: Greenlight's David Einhorn, David Einhorn, CNBC's Scott Wapner Organizations: Greenlight

☆ Greenlight's David Einhorn on his top investment idea and the future of value investing
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreenlight's David Einhorn on his top investment idea and the future of value investingDavid Einhorn, president at Greenlight Capital, and CNBC's Scott Wapner join 'Power Lunch' to discuss his thesis behind buying shares of European chemicals company Solvay, his outlook on value investing, and more.

Persons: Greenlight's David Einhorn, David Einhorn, CNBC's Scott Wapner Organizations: Greenlight, Solvay

Greenlight's David Einhorn said Wednesday at the Sohn Investment Conference in New York he has bought shares of European chemicals company Solvay . "Solvay is an essential chemical company that holds the number one position across all of its markets" Einhorn said. "While all of these are thought of as commodity businesses, they are higher margin and much more stable than most commodity chemical businesses." "All told, Solvay is a commodity chemical company with relatively high and stable margin, a higher return on capital." "At 3.7 times targeted 2028 earnings per share with almost a double-digit dividend yield, it seems too cheap," Einhorn added.

Persons: Greenlight's David Einhorn, Solvay, Einhorn, CNBC's Scott Wapner, Yun Li Organizations: Sohn Investment, Solvay, Wall, Greenlight Locations: New York, U.S, Brussels, Belgium

The 2024 Sohn Investment Conference took place in New York took place Wednesday, with a slew of hedge fund managers highlighting their top ideas. Here are some of the top picks mentioned: Vijay Shilpiekandula, Dilation Capital Investment Idea: ASML Vijay Shilpiekandula of Dilation Capital, who was named the Sohn Idea Contest Winner, presented ASML as his best stock idea. Jesse Cohn, Elliott Investment Management Investment Idea: Etsy E-commerce platform Etsy is an undervalued company, according to Elliott Investment Management managing partner Jesse Cohn. Seth Fischer, Oasis Management Investment Idea: Kao There's an underappreciated buying opportunity in Japanese global chemicals company Kao, according to Seth Fischer, founder and CIO at Oasis Management. David Einhorn, Greenlight Capital Investment Investment idea: Solvay Greenlight's David Einhorn unveiled Solvay as his top investment idea , saying the European chemicals company is a market leader with an attractive valuation.

Persons: Vijay Shilpiekandula, Vijay, ASML, Shilpiekandula, Jesse Cohn, Etsy, Cohn, Seth Fischer, Kao, Fischer, David Einhorn, Solvay, Einhorn, Michael Buckley, Natera, Buckley, Mohammed Anjarwala, Carpenter, Anjarwala Organizations: Elliott Investment Management Investment, Elliott Investment Management, Body, Oasis Management Investment, Oasis Management, Nikkei, Greenlight Capital Investment Investment, Solvay, Duquesne Family, Duquesne Family Office, Global, Technology Carpenter Technology, Boeing, Airbus Locations: New York, Europe, Bath

☆ Greenlight's David Einhorn — up 27% this year — is on a 'buyers' strike' and worries about geopolitics
▼ + stars: | 2023-11-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's hedge fund returned 12.9% in the third quarter, bringing its 2023 gains to 27.7%. "The complacent investor view that geopolitics should be ignored might be true, except for the times when it isn't. "Higher oil prices would squeeze the consumer and likely cause a recession. His stellar track record made him one of the most followed hedge fund managers on Wall Street. Einhorn said his biggest winners in the third quarter were Consol Energy , Capri Holdings and Black Knight.

Persons: Greenlight Capital's David Einhorn, Einhorn, Russia's, he's, Black Knight Organizations: CNBC, Federal Reserve, West, Cornell grad, Greenlight Capital, Wall, Consol Energy, Capri Holdings, Black Locations: Ukraine, U.S, West Texas

☆ Greenlight's David Einhorn hit home runs short selling and buying companies making big buybacks
▼ + stars: | 2023-07-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn, a value-oriented hedge fund manager, found success pivoting to short selling and buying companies with big buyback programs. At the end of that bull market, Einhorn said the majority of surviving value investors ceased to consider valuation as a determining factor in their investment process. That "was an exceptionally good year," Einhorn said in his 2022 investor letter. The 54-year-old Einhorn also pivoted to buying companies with sizable buyback programs in place, instead of purchasing cheap stocks that have been struggling to close the valuation gap. Atlas Air Worldwide and Green Brick Partners were some of the stocks Einhorn held whose boards had authorized big repurchases.

Persons: Greenlight Capital's David Einhorn, Einhorn, shorting, Cathie Wood, Greenlight Organizations: Cornell, Greenlight Capital, Wall, Atlas Air, Green Brick Partners, Apollo Global, Green

☆ Ken Griffin’s hedge fund Citadel is up again in 2023 following a record year
▼ + stars: | 2023-03-03 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ken Griffin's flagship hedge fund matched the broader market's performance in the beginning of 2023 following a record year, according to a person familiar with the returns. Citadel's multi-strategy flagship Wellington fund gained 0.7% last month, bringing its 2023 performance to 2.8% through February, the person said. This year's gain comes after a stellar year for the hedge fund, which soared 38% in 2022, marking the firm's best year ever and outperforming its largest competitor, Millennium, by more than 3 to 1. Hedge funds aim to offer downside protection during market turmoil, and Citadel managed to shine during the worst chaos in the market in years. Citadel's equities fund, which uses a long/short strategy, is up 2.4% this year, while its global fixed income fund is higher by 1.6% so far in 2023, the person said.

☆ Greenlight's David Einhorn says there are two types of buybacks
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreenlight's David Einhorn says there are two types of buybacksDavid Einhorn, Greenlight Capital, joins CNBC's 'Halftime Report' to discuss the recent controversy over stock buybacks.

☆ Greenlight's David Einhorn is shorting innovation stocks like those held by Cathie Wood
▼ + stars: | 2023-01-17 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn also said he is still short some 'bubble' names. Driving the stellar performance was a successful bet against what seemed to be the constituents of Wood's flagship ARK Innovation ETF (ARKK) . "In early 2021, we also identified an actively-managed ETF of so called 'innovation' stocks that appeared to us to have significantly similar characteristics to our bubble names," stated the letter. ARKK 1Y mountain ARK Innovation ETF's 1-year sell-off Einhorn said he created another "bubble" basket with 31 names totaling 6.5% of capital in January of last year. Einhorn said this bubble basket remained in the portfolio but he has covered some positions.

☆ Greenlight's David Einhorn is crushing the market this year. Here are his top holdings
▼ + stars: | 2022-11-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Greenlight Capital's David Einhorn is in the middle of a stellar year as his inflation bets and other trades pay off. Green Brick Partners , a bet on rising housing prices, continued to be his biggest holding, a new regulatory filing showed. During the third quarter, Einhorn increased his stake in tech stock Kyndryl Holdings to $60 million. Meanwhile, the hedge fund manager added to his holding in LivaNova drastically, making the medical device company Greenlight's eighth biggest bet, the filing showed. Einhorn previously said he's bearish on equities as the Fed continues to deflate the market with aggressive rate hikes.

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