David Einhorn
David Einhorn
Hedge fund manager who co-founded Greenlight Capital. He became well-known for prescient bets on Allied Capital and Lehman Brothers.
NationalityAmerican
ProfessionEntrepreneur
Date of Birth20 November 1968
CountryUnited States of America
car risk lasts
A 99% Value-at-Risk calculation does not evaluate what happens in the last one percent... This is like an airbag that works all the time, except when you have a car accident.
jobs names wife
When you leave a good job to go off on your own and don't expect to make money for a while, you name the firm whatever your wife says you should.
cutting half
What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half.
running people giving
When people ask me what I do for a living, I generally tell them 'I run a hedge fund.' The majority give me a strange look, so I quickly add, 'I am a money manager.' When the strange look persists, as it often does, I correct it to simply, 'I'm an investor.' Everyone knows what that is.
facts psychological certain
You have a certain set of facts and you are looking for situations where you have an edge, whether the edge is psychological or statistical.
loss luck analysis
The loss was not bad luck. It was bad analysis.
real world assets
In the real world, illiquid assets carry a discount.
book mean simple
One of the best investors around, Joel Greenblatt, has written a popular, charming and funny book about investing in great companies at low P/E multiples. To simplify an already simple book, great companies are generally measured as companies that can generate lots of profit without requiring a lot of capital. This means that they have high ROEs.
jobs figures should
As an investor my job is to figure out what will happen rather than what should happen.
best dad fancy mom
On my best days, I fancy myself a combination of Dad's persistence/patience and Mom's toughness/skepticism.