David Einhorn’s market nihilism | Financial Times
It’s easy to poke fun at David Einhorn. The star fund manager turned poker player turned bubble-stock-shorter has had a torrid ten years in markets, following his rise to financial fame during the post dotcom crash, and his Lehman Brothers short.
Despite the poor recent returns at his fund Greenlight Capital, however, FT Alphaville remains interested in the investor. Not least because his book Fooling Some Of The People All Of The Time is one of the best yarns on stock selection out there, in part because it does an excellent job of explaining the kind of mentality that is required to have and hold onto positions in the market, alongside the usual waffle about valuation metrics and whatnot.
So when one of Einhorn’s comments on value investing from Simplify ETF’s event at the New York Stock Exchange on Monday started circulating on Twitter, we thought it was worth flagging….