Yesterday, Bloomberg reported that iron ore has fallen low and is now in the bear market over China’s demand concerns. China and its effect on commodity prices has been a much discussed theme lately, BAML’s investor poll flagged decline in Chinese industrial demand as a leading market fear. Iron ore’s fall this year began in February and that is when related stocks with heavy exposure in iron-ore mining got pressured. The price of 62...
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Hedge funds filed their Q1 equity holdings over the last couple of days. While many of the stock picks and exits were expected, like everyone buying Hess Corp. (NYSE:HES) and Dell Inc. (NASDAQ:DELL) which are targets of proxy fights from their famous shareholders, there are also some moves that stood out. Here are the surprise buys/sells from the top investors in hedge fund industry. Loeb Exits Morgan Stanley, Already! If we look at Dan...
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David Einhorn’s Greenlight Capital filed 13f today. The fund was down in April because of losses in gold and Apple Inc. (NASDAQ:AAPL), both of which are major holdings of the hedge fund. In Greenlight’s quarterly investor letter, the fund talked about its winning positions in short yen and how it is still a firm believer in Apple Inc. (NASDAQ:AAPL). The breakup of Greenlight’s long holdings at the end of Q1 are discussed below. The fund has been stacking...
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We recently brought you David Einhorn’s full first quarter letter. Einhorn discusses his Yen short, Apple investment, gold etc. Einhorn is chairman of Greenlight RE which just reported earnings recently. David Einhorn discussed some of the topics in the letter on the call. Below is a transcript of Einhorn’s words and a link to the audio file of the call. David Einhorn Conference Call text and audio below David Einhorn - Chairman Conference Call Thanks,...
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Apple Inc. (NASDAQ:AAPL) has had its fair share of detractors in recent months, with one of the most prominent among them having bee Jeffrey Gundlach. The hedge fund manager famously advocated shorting the stock this time last year. Jeff Gundlach Views on Apple Inc. (AAPL) Stock: Now however, in an interview with CNBC, Gundlach says that he’d much rather be holding the company’s stock long than selling it short. According to the interview, Gundlach...
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Greenlight Capital Q1 2013 letter to shareholders is out. Earlier today, Sam Forgione of Reuters had a short summary on the Greenlight Capital Q1 2013 letter. Greenlight Capital is up 5.8 percent net for Q1. Returns in April were hurt by losses in gold. Below we have the full hedge fund letter (see Greenlight Capital Q42012 here). Some notable comments from the letter include CEO David Einhorn’s (more subtle) attack on Ben Bernanke and other Central Bankers’...
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At the Ira Sohn conference yesterday, Jim Gundlach proposed an interesting short idea, and it’s been moving the market today. Chanos said his idea for a short at the moment was the hard drive maker Seagate Technology PLC (NASDAQ:STX). An hour later, David Einhorn, who owns about 2 percent of the company, took to the stage. Chanos On Seagate Technology: The rationale for Chanos’ short was clear and concise, and it resounded with investors....
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David Einhorn Ira Sohn coverage brought to you by ValueWalk. David Einhorn will be speaking now at the 18th Ira Sohn Conference taking place in New York. Last year, David Einhorn took us around the globe and did not focus for more than a few moments on any specific topic/investment. Katya Watchel of Reuters commented that ‘Einhorn stock picks at conference fail to wow. However, there is always this year. Will Einhorn attack Green Mountain Coffee Roasters...
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Ira Sohn Conference Live Coverage brought to you by ValueWalk. The 18th annual Ira Sohn Conference kicks off on Wednesday May 8th starting at 12PM EST and going until around 6:30PM EST. Many terrific value investors will be speaking at the conference. We will be providing both live blogging of the event as well as in-depth analysis. This is a jam packed week. We earlier brought you coverage of the Value Investing Congress which can be found here...
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Apple Inc. (NASDAQ:AAPL)’s plan to return capital to shareholders has earned the praise of David Einhorn, who has also increased his stake in the company. Einhorn sued Apple earlier this year in an attempt to get the company to increase shareholder value by returning more capital. David Einhorn’s Great Expectations For Apple Inc. (AAPL) On a conference call with his firm Greenlight Capital Re, Ltd. (NASDAQ:GLRE), Einhorn said that he expects that Apple Inc. (NASDAQ:AAPL)...
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Greenlight Capital Re, Ltd. (NASDAQ:GLRE), David Einhorn’s reinsurer, was almost flat in last month, returning -0.1 percent in April. Greenlight was up 5.8 percent in Q1. The latest information from the fund reports that the portfolio is 111 percent long and 75 percent short. The allocations in longs is slightly up since January, however the short portfolio still carries the same weight. David Einhorn’s net short exposure is significantly higher than many other competing...
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