David Einhorn expects stubborn inflation and the Fed to only cut interest rates next year.
If inflation sees a resurgence and rates go higher, that could threaten the current bull market, he says.
They may be celebrating too soon, hedge fund boss David Einhorn warned in his quarterly letter to investors this week.
He viewed the move as bullish for stocks and likely to fuel inflation at the time.
"If we were 'bearish' until March and 'neutral' through June, we would now characterizeourselves as 'worried,'" the veteran investor said.
Persons:
David Einhorn, he's, ValueWalk, Einhorn, Greenlight
Organizations:
Fed, Service, Federal Reserve, Silicon Valley Bank, Signature Bank, Treasury
Locations:
Wall, Silicon