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☆ Why Citadel's longest-running equities unit is focused on shorting stocks
▼ + stars: | 2024-10-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Justin Lubell, Citadel's Global Equities head, said shorting has been a big driver of returns. There's less competition in the space compared to going long on stocks, he said. Anthony Bozza, the founder of Lakewood Capital, called those who know who to short stocks a "dying breed." AdvertisementWhile some big bets against specific stocks have blown up in hedge funds' faces in recent years, there's still a focus on shorting at Citadel's longest-running equities unit. Related storiesEven investors known for bold short bets have moved away from the practice.

Persons: Justin Lubell, shorting, Anthony Bozza, —, there's, Ken Griffin's, Lubell, Robin, Gavin Baker, Lee Ainslie, Steve Cohen's Point72, Gabe Plotkin's Melvin Capital, Pershing, Bill Ackman, Bozza Organizations: Citadel's Global, Service, Citadel's, Citadel Global, Robin Hood Investors Conference, Business, Management, Lakewood Capital, Maverick Capital, GameStop, Lakewood Locations: Lakewood Capital, New York

Earnings season is in full swing, and some names reporting this week are positioned for major moves. So far, 37% of those in the broad market index have reported this quarter, resulting in what has been a mixed reporting period. According to LSEG, earnings have come in 6.1% above expectations, while revenue is 1.5% higher, as of Monday. Last week, the stock advanced more than 1% on Wednesday due to JMP Securities upgrading it to market outperform from market perform. The financial services provider has jumped around 52% over the past three months and more than 41% over the past month.

Persons: Andrew Boone, Greenlight Capital's David Einhorn, Einhorn, Kamala Harris, Donald Trump Organizations: Dow Jones, Apple, CNBC Pro, Securities, Robin Hood Investors Conference, U.S, Technologies

☆ This is why David Einhorn thinks Peloton could be worth five times what it is now
▼ + stars: | 2024-10-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The first page of the deck was titled "15 minute 'Stock Pitch Ride'" and shows an image of Einhorn on a Peloton bike. Greenlight Capital's David Einhorn thinks Peloton could trade as high as $31.50 a share if the company slashes costs, which could double its current adjusted EBITDA projections, CNBC has learned. And Adidas has 8 times more sales than Peloton and an order of magnitude more product lines." In August, Peloton said it expects it can post adjusted EBITDA of between $200 million and $250 million in fiscal 2025. "The nice part of our thesis is that we don't have to convince Peloton this is the right approach," said Einhorn.

Persons: Einhorn, Einhorn pedaled, Greenlight Capital's David Einhorn, Bill Ackman, Robin Hood, Richard Buery —, Karen Boone Organizations: Robin Hood Investors Conference, Wednesday, CNBC, Spotify, Netflix, Adidas, Companies Locations: EBITDA

☆ Billionaire investor David Einhorn says buying HP stock is a cheap way into the AI craze
▼ + stars: | 2024-10-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

David Einhorn said computer hardware maker HP could eventually benefit from AI. He said HP stock trading around 10x earnings looks "very reasonable." AdvertisementFamed hedge fund investor David Einhorn is eyeing a tech stock that could be an under-the-radar artificial intelligence play. One of these names is computer hardware firm HP, Einhorn told Bloomberg TV. The stock is trading 10 times earnings, pays a dividend yield of over 3%, and spends 100% of free cash flow paying shareholders, he said.

Persons: David Einhorn, —, Einhorn Organizations: HP, Service, Greenlight, Bloomberg, COVID, Robin Hood Investors Conference

David Einhorn speaking at the 2024 Sohn Conference in New York City on April 3, 2024. Shares of Peloton spiked more than 11% on Wednesday after Greenlight Capital's David Einhorn said shares of the company are significantly undervalued, CNBC has learned. It was not immediately clear what Einhorn believed Peloton shares should trade at. He made the case for the company as he was riding a Peloton bike, a person familiar with his remarks said. Peloton did not immediately respond to CNBC's request for comment.

Persons: David Einhorn, Greenlight Capital's David Einhorn, Einhorn, Barry McCarthy Organizations: CNBC, Robin Hood Investors, Greenlight, Costco Locations: New York City

☆ Billionaire Millennium founder Izzy Englander thinks there's a hedge-fund talent bubble— not a war
▼ + stars: | 2023-10-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: 1 min

Billionaire Millennium founder Izzy Englander blames long non-competes for the hedge-fund talent fight. He said at the closed Robin Hood conference Tuesday that there's a talent bubble, not a talent war. He also said that artificial intelligence is a tool, but not revolutionary. One of the main players in the hedge-fund talent war doesn't believe there's a battle going on. This story is available exclusively to Insider subscribers.

Persons: Izzy Englander, Robin Hood Organizations: Millennium, Robin Hood Investors Conference, Citadel Locations: Point72

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