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☆ 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

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

☆ David Einhorn's Greenlight Capital bets on pair of regional banking stocks
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

David Einhorn joined other big investors in shares in several regional bank stocks last quarter in a bet that the financial institutions would survive the industry crisis that felled Silicon Valley and First Republic banks. That's the bank whose subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered. Einhorn's additions come amid a broad selloff of regional bank stocks on concern more institutions could fail as depositors withdrew assets and the value of banks' bond holdings narrowed. "Big Short" investor Michael Burry also bought regional bank stocks last quarter. Outside of the bank stocks, Einhorn notably increased exposure to Concentrix , Gulfport Energy and Tenet Healthcare .

☆ David Einhorn regrets selling his early Apple stake, predicts the Fed will pull back in fighting inflation, and reveals he's betting on AI in a new interview. Here are the elite investor's 8 best quot
▼ + stars: | 2023-04-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The Greenlight Capital boss sees the Fed pulling back in fighting inflation after the banking chaos. Einhorn also discusses where the banks went wrong, and how he's betting on AI, in a new interview. "The first jelly donut tastes great. The second jelly donut is pretty indulgent, but by the 12th jelly donut, you're just making yourself sick, so you really shouldn't do that anymore." "We're not going to figure out who has the next breakthrough in AI that is going to leapfrog everybody else's AI.

☆ Retail investors are bailing on the stock market, leaving bearish pros to decide its fate
▼ + stars: | 2023-03-09 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Retail investors are buying fewer stocks as the market stagnates under the weight of higher interest rates and stubborn inflation — a loss of a key group to keep positive momentum going. Greenlight Capital's David Einhorn told CNBC earlier this month that investors should be bearish on stocks because of rising inflation. Along with the macroeconomic woes, Vanda thinks the dented enthusiasm from the retail audience is in part because interest in Tesla shares is waning. Tesla hosted an investors day to start the month that largely disappointed investors because of a lack of details about its future plans, including a possible cheaper vehicle. TSLA 1M mountain Tesla shares, 1 month Tesla shares are off 12% this month.

☆ Growth stock vs. value stock? It's all in the eye of the beholder
▼ + stars: | 2023-03-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +9 min

Most investors would say it's a growth stock, because it has the traditional characteristics of a growth stock: earnings are growing. But Microsoft is now being classified as partly a growth stock by Standard & Poors, and partly a value stock. S&P growth and value criteria: It's not that simpleThe S&P rebalances its growth and value indexes every year at the end of December. Growth ETFs in 2023 (year to date)Vanguard Growth (VUG) up 11.30%iShares S&P Growth ETF (IVW) up 5.6%iShares Russell 1000 Growth (IVW) up 9.2%However, these are unusually large discrepancies, Ullal said. But 30 years ago, issues like what is a value stock and what is a growth stock were largely determined by specialized stock pickers who set up mutual funds and hedge funds to attract investors.

☆ David Einhorn's hedge fund crushed the S&P 500 last year. These are the 3 stocks he's counting on for continued outperformance.
▼ + stars: | 2023-03-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

David Einhorn's hedge fund crushed the stock market last year, returning 37% compared to the S&P 500's loss of almost 20%. These are three stocks Einhorn is bullish on as he seeks to continue his outperformance in 2023. Einhorn's $1.4 billion hedge fund delivered a return of nearly 37% last year, trouncing the S&P 500's loss of just under 20%. These are the three stocks Einhorn owns and pitched as long positions in a recent CNBC interview, as he seeks to continue his trend of outperformance in 2023. AFP/Getty ImagesTicker: CEIXPercentage of portfolio: 8.2%Change in shares last quarter: +99,830 (+5%)Bullish thesis: "Everybody hates coal, so here's the story.

☆ I think we should be bearish on stocks and bullish on inflation, says Greenlight Capital's David Einhorn
▼ + 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 EmailI think we should be bearish on stocks and bullish on inflation, says Greenlight Capital's David EinhornDavid Einhorn, Greenlight Capital, joins CNBC's 'Halftime Report' to discuss his outlook for stocks, the market and the economy. With CNBC's Scott Wapner and the 'Halftime Report' investment committee, Requisite Capital's Bryn Talkington, Virtus Investment Partners' Joe Terranova and Odyssey Capital Advisors' Jason Snipe.

☆ The inflation story is really very complicated, says Greenlight Capital's David Einhorn
▼ + 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 EmailThe inflation story is really very complicated, says Greenlight Capital's David EinhornDavid Einhorn, Greenlight Capital, joins CNBC's 'Halftime Report' to discuss his views on inflation.

☆ 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.

☆ David Einhorn says investors should be 'bearish on stocks and bullish on inflation'
▼ + stars: | 2023-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn said Wednesday he's keeping his negative stance on the stock market as inflation and interest rates could shoot higher. "I think we should be bearish on stocks and bullish on inflation," Einhorn said on CNBC's "Halftime Report." "I think that both long and short term rates are headed higher and probably higher than what people are expecting," Einhorn said. "I think it would be better if they cared less about the stock market in either direction." At the end of 2022, Greenlight's biggest long position included Green Brick Partners, Brighthouse Financial and Consol Energy.

☆ Watch CNBC's full interview with Greenlight Capital's David Einhorn
▼ + 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 EmailWatch CNBC's full interview with Greenlight Capital's David EinhornDavid Einhorn, Greenlight Capital, joins CNBC's 'Halftime Report' to discuss his outlook for stocks, the market and the economy.

☆ Billionaire investor David Einhorn says the Fed wants stock prices to go down and will hike rates higher than markets expect
▼ + stars: | 2023-03-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Greenlight Capital's David Einhorn said the Fed wants to knock stocks lower and will keep hiking rates. He sees today's inflationary era as potentially caused by government spending and interest rates that have not gone high enough. "The Fed does want stock prices lower. "I think it would be better if they cared less about the stock market in either direction." While a higher-for-longer interest regime has become the general expectation on Wall Street, Einhorn thinks estimates for how far the Fed will hike rates are still too low.

☆ David Einhorn on his winning short 'bubble basket' strategy that he's continuing
▼ + stars: | 2023-03-01 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Hedge fund manager David Einhorn said Wednesday that he is continuing his bets against "bubble baskets" of stocks that helped Greenlight Capital rebound in 2022. In his annual letter released last month, Einhorn defined a bubble stock as one that "could fall at least 80% and still not appear cheap to us." Einhorn told CNBC on " Halftime Report " on Wednesday that the firm is still betting against some of those stocks. The fund manager said Greenlight is still betting against that basket of stocks, though at a smaller weight. "I think most people in the market right now cannot do valuation, they choose not to do valuation, or structurally they're valuation agnostic," Einhorn said.

☆ Investor David Einhorn, whose hedge fund was up nearly 37% last year, gives his favorite longs
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn is continuing to bet on some of the long stocks that helped his hedge fund outperform in last year's market rout. That includes CONSOL Energy , a coal stock that was among the hedge fund's biggest long positions and winners in 2022. The comments from Einhorn come after the star hedge fund manager posted a solid end to 2022 by betting on inflation and against growth bubble names. His hedge fund surged nearly 37% due in part to long positions in names like Atlas Air Worldwide , Teck Resources and Twitter, before its acquisition. Green Brick Partners and Danimer Scientific marked the hedge fund's only two significant losing long positions 2022, he wrote in his January letter.

☆ High-profile hedge funds dive back into beaten-down tech stocks to capitalize on the big comeback
▼ + stars: | 2023-02-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Many high-profile hedge funds jumped back into technology stocks — the group that hurt their alpha the most last year — just in time to benefit from the furious comeback in the new year. These big investors loaded up on stocks that were among last year's biggest losers amid the Federal Reserve's aggressive rate hikes. Hedge funds overall saw significant negative long alpha (-12.1%) last year, with the single biggest contributor being exposure to info tech, according to Goldman Sachs. .IXIC 1Y mountain Nasdaq Composite The rebound in technology stocks came fast and furious in the new year. Hedge funds overall were able to beat the market significantly.

☆ Here are David Einhorn's top holdings that helped propel one of Greenlight's best years
▼ + stars: | 2023-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Greenlight Capital's David Einhorn just scored one of his best years ever as the value investor took advantage of the extreme market volatility. At the end of 2022, Green Brick Partners and Brighthouse Financial — two inflation plays he's held for a few years — remained Einhorn's top two holdings. CONSOL Energy and Teck Resources were also among Einhorn's biggest stakes at the end of 2022. Einhorn previously revealed that he established a new medium-sized long position in hospitals and ambulatory surgery centers operator Tenet Healthcare during the fourth quarter. Einhorn revealed previously that his stellar performance last year was partly driven by his short position in a slew of innovative technology stocks like those touted by growth investor Cathie Wood.

☆ These midcap stocks are cheap and expected to see booming earnings growth in 2023
▼ + stars: | 2023-01-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

In a year when corporate earnings are broadly expected to deteriorate , some midcap names with cheap valuations are forecast to see strong earnings growth. However, the blended S & P earnings decline for the fourth-quarter is -5%, per FactSet. Midcap stocks are faring slightly better, with the S & P 400 MidCap up nearly 8% year to date. Each is also expected to post earnings growth of at least 20%, per FactSet. Earnings growth at $8.3 billion market cap company is expected to expand by nearly 32% and it has a P/E of 10.4.

☆ 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.

☆ Macro hedge funds end 2022 on high, many others lose big, investors say
▼ + stars: | 2023-01-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Rokos Capital, run by Chris Rokos and one of a handful of so-called global macro firms, gained 51% last year. Many macro managers sidestepped tumbling equity markets rocked by fast-paced interest rate hikes and geopolitical turmoil including the war in Ukraine to rank among the hedge fund industry's best performers, data from Hedge Fund Research show. The firm's macro index gained 14.2% while the overall hedge fund index dropped 4.25%, its first loss since 2018. Equity hedge funds, where the bulk of the industry's roughly $3.7 trillion in assets are invested, however fared worse with a 10.4% loss, according to HFR data. Tiger Global Management lost 56% while Whale Rock Capital Management ended the year with a 43% loss and Maverick Capital lost 23%.

☆ Wall Street's biggest investors are all but sure of a recession next year. Here’s where they are hiding out
▼ + stars: | 2022-12-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

For investors looking for a way to ride out the storm in one piece, here are where the biggest investors are hiding out. Emerging markets Bond King Gundlach said it's time to buy emerging market stocks as the dollar has likely hit its peak. Cash Cash, one of the most hated corners of the market for years, has gotten some newfound love as risk assets remain stuck in a rout. Buying safe government bonds allows investors to shop for riskier, more opportunistic credits in the market, Gundlach said. Spreads on non-Treasurys have widened, including guaranteed mortgages, junk bond yields, emerging market debt and asset back securities, he added.

Underlining the bleak return prospects at home, hedge funds with Greater China strategies have lost 12.9% for the year to end-November - on track for their worst year since 2011, according to Eurekahedge data. Rich Chinese are also fretting about Xi Jinping's "common prosperity" drive to reduce income inequality, asset managers said, adding that they are looking at overseas private equity and property investment opportunities in countries like the United States and Japan. Although investing outside of mainland China is not a new development, a significant chunk of that wealth has usually been invested in Chinese assets such as Chinese securities listed in the offshore markets. The Boston-based asset manager has been receiving many queries from Greater China family offices to learn about U.S. economic policies and investment rules, he said. The U.S. consulate told Reuters that it frequently explains investment and economic trends in the United States to a wide variety of audiences.

☆ 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.

☆ Carl Icahn, David Einhorn, and Dan Loeb bet big on Elon Musk ultimately buying Twitter - and likely raked in profits when the deal closed
▼ + stars: | 2022-11-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Carl Icahn, Dan Loeb, and David Einhorn built sizeable stakes in Twitter last quarter. Icahn and his team amassed 12.5 million Twitter shares, valued at $549 million on September 30. Similarly, Einhorn's Greenlight Capital scooped up 4.3 million shares, worth $188 million at the end of last quarter. It snapped up 5.5 million shares worth $241 million on September 30. It also purchased bullish call options on 34,000 shares, and bearish put options on 1.1 million shares.

☆ Investors who stuck it out for Musk's Twitter deal set to reap rewards
▼ + stars: | 2022-10-28 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

[1/3] The Twitter logo is seen on the floor at the New York Stock Exchange in New York, November 7, 2013. If the deal had collapsed, the price floor for Twitter stock would have been "unknown", White said, adding that investors waged their risk on Delaware Chancery court, where corporate disputes are resolved. Investors sold 107,626 million Twitter shares in the second quarter, regulatory filings and Symmetric.io data show, with activist investors and tech oriented funds leading the sales. As the stock price dropped early in the third quarter, some investors saw a chance to buy in for cheap. that Twitter investors were not trapped.

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