David Einhorn’s Speech At The UJA (February 3rd 2011)

I just posted this on www.GuruFocus.com, thought the readers would be interested.

I had the pleasure of hearing David Einhorn speak earlier this week. I wanted to try to catch everything he said so I put my notes in short bullet points. He covered a lot of interesting topics including his book Fooling Some of the People All of the Time, A Long Short (and Now Complete) Story, the Federal Reserve, St. Joe and more.

Below are the notes I took. Enjoy!

Themes for the next decade: Cannabis, 5G, and EVs

CannabisA lot changes in 10 years, and many changes are expected by the time 2030 rolls around. Some key themes have already emerged, and we expect them to continue to impact investing decisions. At the recent Morningstar conference, several panelists joined a discussion about several major themes for the next decade, including cannabis, 5G and Read More

  • Einhorn barely spoke about the updated version of his book . Really just Q&A in general. 50% of David’s Allied Capital profits he donated to charity.
  • Views himself as market agnostic in stock selection.
  • Re market and economy, he’s not an “outlooker,” i.e. doesn’t generally have an outlook per se.

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