David Einhorn

As you may have heard, at the Value Investing Congress on Wednesday, David Einhorn revealed (in a 139-slide PowerPoint presentation) that he and Greenlight Capital are shorting real-estate developer St. Joe Co. This was at odds with investor Bruce Berkowitz who, through Fairholme Capital Management, owns a 29 percent stake in the company (having purchased an additional 0.1% following Einhorn’s presentation). When asked by audience members about taking the other side of the trade, Einhorn, because he has manners, said that he had sent Berk a letter stating his intent to short St. Joe, and asked if the two could debate the issue, which Bruce never responded to and as recently as today, Berkowitz told Reuters, “Why would I want to talk to him?”

Which is interesting! Given that less than two months ago, Berkowitz said this: Read more »

“If we were able, we would buy the whole company,” Berkowitz told Reuters’ Aaron Pressman. Einhorn “has put a big spotlight on this company. My advice is everyone should enjoy it and take advantage of it…I want to send him a box of chocolates,” Berkowitz told Reuters’ Aaron Pressman. “This is the kind of advertising you just can’t buy. The company should hold a David Einhorn Memorial Investment Week.”

Earlier: Here Is David Einhorn’s Value Investing Congress Presentation On Shorting St. Joe

  • 13 Oct 2010 at 12:40 PM

David Einhorn: “If You Build It, They Won’t Come”

That’s the title of the presentation David Einhorn is giving at the Value Investing Congress, where he’s argued Florida real estate developer St. Joe will have to take impairment charges, and that the company’s Rivertown development “is a moonscape and it doesn’t appear anyone is living there.” [Bloomberg] Read more »

Vanity Fair is out with its annual list of the 100 most influential people in the world. Last year, Lloyd Blankfein was named numba 1 stunna. This year, something interesting happened wherein he clocked in at dead last. One can’t help but feel as though VF is trying to send a message here. Well guess what, ladies? LCB doesn’t need your mocking pity. Maybe next year, he starts his own list. Also of interest to note in the way off disses is that missing from the list are Maria Bartiromo and Erin Burnett, who last year were deemed the 69th most influential, a position they shared, in addition to the Dollar Dominatrix, who was 86 and David Einhorn, who was 87. For the second year in a row, Steve Cohen and Ben Bernanke were left off because really, what have those guys ever done? Here’s who did get named: Read more »

  • 01 Sep 2010 at 10:02 AM

David Einhorn Worked Hard For The Money This August

Back in February, the Wall Street Journal printed an article about a hedge fund “idea dinner,” more than insinuating that a bunch of representatives from Soros, SAC, Greenlight and Paulson and Co got together to enjoy a meal of food while scheming re: how they were going to take down the Euro. This was uncool for a few reasons, including by not limited to the fact that it’s unlikely the handful of managers assembled would even be capable of taking down the currency and the shoddy reporting that said they ate fish when in fact it was chicken (a tad undercooked, if you must know). Also, as a result of the story, the Justice Department’s antitrust division opened an investigation into possible violations of the Sherman Act. Read more »