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☆ 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.

WASHINGTON/PARIS, Dec 19 (Reuters) - For nearly two years the United States has tried and failed to negotiate a revival of the 2015 Iran nuclear deal yet Washington and its European allies refuse to close the door to diplomacy. Under the 2015 Joint Comprehensive Plan of Action under which Tehran reined in its nuclear program in return for relief from economic sanctions. A U.S. intelligence estimate disclosed in late 2007 assessed with high confidence that Iran was working to develop nuclear weapons until the fall of 2003, when it halted the weapons work. "We will continue with the pressure while keeping the door open for a return to diplomacy," U.S. special envoy for Iran Robert Malley told reporters in Paris last month, adding that if Iran crossed "a new threshold in its nuclear program, obviously the response will be different." Even if the 2015 nuclear deal cannot be resurrected, the senior Biden administration official said other diplomatic solutions might be possible.

LANSING — State officials in Michigan announced changes this week to address administrative failures that have made it difficult for some of the state’s most vulnerable foster youth to earn a high school diploma. The actions came after NBC News reported on foster youth in Michigan who were denied credit for classes they took while living in state-funded, state-licensed residential facilities. He was one of five foster youth who addressed the board or had their statements read into the record on Tuesday. “The first thing we need to do is to get into the Legislature and make certain that there’s no such thing as noncredit-bearing courses in Michigan public education. The foster youth and their advocates said they’re hopeful that real change is coming.

☆ Animals Are Running Out of Places to Live
▼ + stars: | 2022-12-09 | by ( Catrin Einhorn | Lauren Leatherby | ) www.nytimes.com time to read: +17 min

In many places, poverty, powerful interests and a lack of law enforcement make habitat loss especially hard to address. Because animals there often have smaller ranges to begin with, habitat loss hits them especially hard. “That's the ultimate challenge of forest conservation globally.”Source: Map of Life | Photo: Chien C. Lee MOZAMBIQUE Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Est. habitat in 2001 MADAGASCAR MOZAMBIQUE Estimated habitat in 2001 MADAGASCAR Source: Map of Life | Photo: Chien C. Lee MOZAMBIQUE Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR MOZAMBIQUE Habitat loss in 2021 MADAGASCARThis is the 2001 habitat of the white-headed lemur, a primate that eats fruit and flowers. Of the many targets being negotiated, the one that has gotten the most attention seeks to address habitat loss head on.

☆ 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.

☆ 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.

☆ 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.

☆ Greenlight's Einhorn optimistic Twitter deal with Musk will close
▼ + stars: | 2022-10-21 | by ( Nupur Anand | ) www.reuters.com time to read: +2 min

Einhorn told his investors in August that he had bought a stake in Twitter, and now said he believes the lawsuit in Delaware that could decide the fate of the deal "is going well for TWTR." Register now for FREE unlimited access to Reuters.com RegisterEarlier this month, Musk reversed course again and said he would proceed with the deal on original terms. A Delaware judge ordered a pause to Twitter's lawsuit against Musk, giving the billionaire until Oct. 28 to close the deal. "We expect that one way or another, the deal will close at or near the originally agreed upon price," Greenlight said, referring to the $54.20 price per share the deal was originally proposed. Greenlight's manager said the investment in Twitter is "inherently short-term," adding the hedge fund plans to exit its position upon resolution of the platform sale.

☆ Hedge fund star David Einhorn expects stocks to tumble - and warns unchecked inflation risks a market meltdown
▼ + stars: | 2022-10-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

David Einhorn rang the alarm on stocks, inflation, and the Fed's interest-rate hikes. Einhorn warned stubborn inflation could spark a currency or sovereign-bond crisis. He said the Fed seems intent on lowering stock prices as it works to crush inflation, which surged to a 40-year high of 9.1% in June, and remained above 8% in September. "We remain concerned that the current inflation problem could evolve into a currency and/or sovereign debt crisis," Einhorn said. Einhorn has previously said US investors face an economic downturn, stubborn inflation, and the growing risk of a global financial meltdown.

☆ David Einhorn says he's bearish because the Fed's 'official policy is to make the stock market go down'
▼ + stars: | 2022-10-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn, who is crushing the market with double-digit returns this year, is selling stocks as the Federal Reserve continues to deflate the market with aggressive rate hikes. However, higher interest rates also discourage investments and in turn crunch supply, which is most evident in the housing market. "The most glaring area might be in housing, where higher rates lead to reduced supply despite widespread shortage," Einhorn said. That compares with a 23.9% decline for the S & P 500 during the same period as the benchmark tumbled into a bear market. Further, high short-term interest rates provide competition for gold," Einhorn said.

☆ Greenlight Capital's David Einhorn urges investors to sell stocks
▼ + stars: | 2022-10-20 | 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 Capital's David Einhorn urges investors to sell stocksCNBC’s ‘Halftime Report’ investment committee, Shannon Saccocia, Josh Brown and Jim Lebenthal, discuss Greenlight Capital co-founder David Einhorn's statement in which he urged investors to sell stocks.

Iranian Americans rally outside the White House in support of anti-regime protests in Iran following the death of Mahsa Amini, in Washington, U.S., September 24, 2022. Belgium's foreign minister and two other lawmakers cut their hair in parliament. "We are not looking to get involved in regime change," said a Western diplomat. Some officials and analysts argue Tehran may not seek a deal given the political sensitivities at home. "Why would we throw a lifeline to a regime that is on the ropes and that is killing young women?"

☆ Tesla’s Apple-sized goals have cash risks
▼ + stars: | 2022-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Returning cash to shareholders only works if the Austin, Texas-based company's Apple-sized (AAPL.O) dreams become reality. Tesla’s 17% operating margin beats the gas-guzzler businesses of rivals Ford Motor (F.N) and General Motors (GM.N) — whose EVs are less profitable still. Investors like David Einhorn and Carl Icahn demanded it use its cash pile to buy back sagging shares, and that bet paid off. But Apple started 2013 with $137 billion in cash and marketable securities; Tesla has $21 billion. Tesla delivered 343,830 cars in the quarter, up 42% year-over-year but 6% below the number of cars it manufactured.

☆ Here's how to play the bear market - and when to know it's safe buy again
▼ + stars: | 2022-10-13 | by ( Jason Ma | ) www.businessinsider.com time to read: +6 min

Investors should brace for a 5% stock market decline if the reading comes in above 8.3%, JPMorgan's trading desk said in a note this week. The stock market could continue to tumble in the face of rising inflation and a recession. Investors should wait to get bullish on the falling stock market as inflation and rate-hike concerns continue to roil the valuation norms of the past two decades, according to Bank of America. Has the stock market found a bottom yet? US stock futures rise early Thursday, ahead of the eagerly awaited US inflation data due later this morning.

☆ Elite investor David Einhorn expects an economic slump and sticky inflation - and says the risk of a global financial meltdown is growing
▼ + stars: | 2022-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

David Einhorn said the US economy is slowing down and inflation is here to stay. Einhorn pointed to red flags in global bond markets and warned a disaster may be coming. Einhorn also bemoaned a widespread decline in value investing, which centers on identifying undervalued companies based on their fundamentals. The combination of heady valuations, stubborn inflation, rising interest rates, and large amounts of debt could reveal cracks in the global financial system, Einhorn said. "When you have a down cycle is when these things tend to metastasize."

☆ Men charged in stock fraud case involving a small-town NJ deli are set to appear in federal court
▼ + stars: | 2022-10-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Federal prosecutors have described the case as a tale of international fraud and betrayal. Peter Coker Jr., 53, the son of Coker Sr., is based in Hong Kong and is considered at large. Federal authorities sought to jail Coker Sr. before agreeing to a conditional release. The men are charged with conspiracy to commit securities fraud, securities fraud and conspiracy to manipulate securities prices. The peculiarities surrounding Your Hometown Deli first caught the eye of hedge-fund manager David Einhorn in 2021.

☆ $100 million N.J. deli scheme leads to federal charges against a father and his son
▼ + stars: | 2022-09-26 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Health Care For Cnbc.Com. | Mangan Has Been A Journalist For More Than Years | ) www.nbcnews.com time to read: +4 min

Your Hometown Deli, the business at the center of the probe, was located in Paulsboro, New Jersey, over the Delaware River from Philadelphia. The parent company, Hometown International, had merged with a bioplastics company. The $100 million New Jersey deli, as Your Hometown Deli came to be known, was first brought to the public’s attention by investor David Einhorn in a letter to clients. The securities fraud and securities price manipulation counts carry maximum penalties of 20 years in prison and a $5 million fine. The conspiracy to commit securities fraud and conspiracy to manipulate securities prices counts each carry a maximum penalty of five years in prison.

☆ Three Men Charged in Stock Scam Involving $100 Million Deli
▼ + stars: | 2022-09-26 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

A deli in southern New Jersey was the vessel for an elaborate fraud scheme involving three men who managed to inflate the company’s stock-market value to $100 million, according to federal prosecutors and regulators. The story of how Hometown International Inc.’s stock achieved such a lofty valuation was a mystery that played out in public last year. “The pastrami must be amazing,” hedge-fund manager David Einhorn wrote in a note to investors, before citing the stock as an example of how “the market is fractured and possibly in the process of breaking completely.”

Your Hometown Deli, the business at the center of the probe, was located in Paulsboro, New Jersey, over the Delaware River from Philadelphia. The parent company, Hometown International, had merged with a bioplastics company. The $100 million New Jersey deli, as Your Hometown Deli came to be known, was first brought to the public's attention by investor David Einhorn in a letter to clients. The securities fraud and securities price manipulation counts carry maximum penalties of 20 years in prison and a $5 million fine. The conspiracy to commit securities fraud and conspiracy to manipulate securities prices counts each carry a maximum penalty of five years in prison.

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