David Einhorn Isn't Gonna Mince Words Here: 2015 Could've Gone Better

In fact, it's difficult to impossible to imagine it having gone worse.
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Years from now Team Greenlight will look back on 2015 and laugh, but for now any mention of mention of that annus f*cking horribilis should be considered TOO SOON.

"Let's get some of the gory facts out of the way: we lost money every quarter. We had six positions that cost us more than 1%, but only one position that made more than 1%. We were short the top two performing stocks in the S&P 500 (Netflix (NFLX) and Amazon (AMZN)). We were long two of the 10 worst performing stocks in the S&P 500 (CONSOL Energy (CNX) and Micron Technology (MU)). We didn't own any of the 50 best performing stocks in the S&P 500. We had four shorts taken over. We surrendered a lot on a few other shorts either by covering right before they fell, or declaring victory right before they fell much further. We failed to monetize nice gains in MU and SunEdison (SUNE) at what now look to be great prices."

Greenlight Capital Q4 Letter To Investors [ValueWalk]

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Back in February, in his annual letter to investors, Berkshire Hathaway chief Warren Buffett spent a good bit of time discussing why one shouldn't own gold. Beyond the fact that, according to WB, gold doesn't "change in size and [is] incapable of producing anything," and you'd be much better off buying farmland (which "a century from now will have produced staggering amounts of corn, wheat, cotton and other crops and will continue to produce that valuable bounty") or shares of Exxon Mobil (which "will probably have delivered trillions of dollars in dividends to its owners," the Oracle of Omaha had one incontrovertible, be all end all reason for eschewing the metal: its unfuckability. Oh sure, you can do things to a cube, you can fondle it, you can talk dirty to it, you can send nude pictures of yourself, you can even drill a hole in it and fuck it senseless, but, the thing is, the cube will not respond. No reciprocation, no gratitude, not even a sign it enjoyed itself.  For Buffett, no further argument was necessary as to the worthlessness of the commodity. (Silver, on the other hand, will make you feel like you're 18 again.) Anyway, David Einhorn sort of feels the same way about the dollar. Greenlight Capital 1Q2012 Letter To Investors [PDF] Related: Don't Think He Hasn't Tried