David Einhorn: "If You Build It, They Won't Come"

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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]

Related (?): RiverTown's homepage, which seems to suggest only one couple has come.

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