Einhorn Speaks at Value Investing Congress
Source: http://briskycapital.blogspot.com/2009/10/einhorn-speaks-at-value-investing.htmlPosted on Monday, October 19th, 2009 | In Energy Markets, Investing Lessons, Market Commentary
David Einhorn of Greenlight Capital is someone I’m always eagerly listening to. He is very intelligent and manages money for a living. As I’ve said many times, the people that are intelligent and have their own money on the line are the only ones I truly listen to. Believe me, there are very few of them. But Einhorn is one of them.br /br /a href=”http://blogs.reuters.com/rolfe-winkler/files/2009/10/einhorn-vic-2009-speech.pdf”Here’s the text of his speech today/a at the Value Investing Congress. I got this via a href=”http://blogs.reuters.com/rolfe-winkler/”Rolfe Winkler’s blog at Reuters/a. There’s a lot of great stuff in here.br /br /br /Here’s just one good quote, about gold:br /br /blockquoteI have seen many people debate whether gold is a bet on inflation or deflation. As I see it, it is neither. Gold does well when monetary and fiscal policies are poor and does poorly when they appear sensible. Gold did very well during the Great Depression when FDR debased the currency. It did well again in the money printing 1970s, but collapsed in response to Paul Volcker’s austerity. It ultimately made a bottom around 2001 when the excitement about our future budget surpluses peaked./blockquotediv class=”blogger-post-footer”img width=’1′ height=’1′ src=’https://blogger.googleusercontent.com/tracker/819581243324579563-3723428211309472064?l=briskycapital.blogspot.com’ alt=” //div
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 About Michael E. Brisky (http://briskycapital.blogspot.com)
Welcome to "In the Know." Here I discuss macro trends in the market, and how I think investors can profit from them. I particularly follow energy stocks and other beneficiaries of secular growth. My investing style would best be described as a hybrid. A hybrid of value and growth; of fundamental and technical analysis. I think you have to be flexible to be a successful investor, but also disciplined. |
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