Latest news with #Einhorn
CNBC
5 days ago
- Business
- CNBC
Greenlight's David Einhorn dumps most of Peloton stake, adds big industrial bet
David Einhorn's Greenlight Capital shed almost all of its Peloton shares after owning the exercise bike startup for a year, according to a new 13F filing. His hedge fund reduced exposure to Peloton by more than 96% to a stake worth merely $1.2 million at the end of June, the filing showed. The star manager first invested in the tech name in the second quarter of 2024. He even pitched the stock at the Robin Hood Investors Conference while riding a Peloton bike on stage, saying shares were "significantly undervalued." Earlier this month, the company posted a surprise profit for its fiscal fourth quarter and outlined its strategy to return to growth under new CEO Peter Stern . The stock has jumped 19% this month on the back of strong earnings. Still, after rallying 42% in 2024, the stock has fallen about 2% this year, significantly underperforming the S & P 500. PTON 1Y mountain Peloton over the past 1-year period Elsewhere, Greenlight built a significant stake in industrial name Fluor last quarter. The bet worth nearly $200 million was the fund's second biggest holding at the end of June. It seems to be a value bet as the stock has fallen more than 15% this year. Einhorn, a 56-year-old Cornell grad, also picked up smaller stakes in Sotera Health , Cigna Group and Victoria's Secret last quarter. Einhorn founded Greenlight Capital nearly three decades ago and went on to produce a 26% annualized return for the next decade, far outpacing the broader market and many peers. He then thrived during the financial crisis, foreseeing the downfall of Lehman Brothers. His stellar track record made him one of the most followed hedge fund managers on Wall Street. In recent years, he's found some success purchasing value stocks that have buyback strategies in place. At the beginning of the year, Einhorn warned of speculative behavior in the bull market that he thinks has ascended to a level beyond common sense.
Axios
05-08-2025
- Business
- Axios
Twisted Spoke to close after 30 years in Chicago's West Town
Twisted Spoke is closing its doors in West Town. Why it matters: Twisted Spoke has been a premier summer destination because of its rooftop, which was one of the first of its kind in the West Town neighborhood. The rooftop also served as a de facto Chicago landmark, due to its motorcycle-riding skeleton seen from the street. The latest: "After 30 years of blood, grease, and bourbon, Twisted Spoke is grinding to a halt," the bar posted on social media. "Everything dies. Bars, rock'n'roll, reputations — even the hard men who built them." Zoom in: The gritty gastropub opened in 1995 and is known for serving its own barbeque-inspired creations and for its extensive collection of whiskeys. State of play: Today, the West Town block where Twisted Spoke sits is littered with new bars and restaurants, which weren't there when it dropped anchor 30 years ago. What they're saying: Co-owner Mitch Einhorn told Block Club that the decision to close was due in part to rising food and labor costs and how habits have changed since COVID. "Late-night dining has changed a lot. Staffing has gotten incredibly expensive. Real estate taxes are spiraling out of control. It just seemed like it was time," Einhorn told Block Club.
Bloomberg
04-06-2025
- Business
- Bloomberg
Bloomberg Wealth: David Einhorn
Greenlight Capital Founder and President David Einhorn discusses the challenges of value investing in the current market environment, his investment approach, and the performance of his fund over the years. Einhorn expresses concern about the US government's fiscal and monetary policies, which he believes are fundamentally inflationary. He speaks with David Rubenstein on this week's episode of Bloomberg Wealth. This episode was recorded April 10 in New York. (Source: Bloomberg)
Yahoo
17-05-2025
- Business
- Yahoo
Billionaire investor David Einhorn explains why gold will keep rising — and it's got nothing to do with inflation
"Gold is not about inflation," David Einhorn told CNBC. The billionaire investor says gold is rising on deficit fears. His fund crushed the S&P 500 last quarter thanks to a big bet on gold. David Einhorn's Greenlight Capital crushed last quarter by betting big on gold, and the hedge fund boss said the metal's big rally isn't done yet. Einhorn said that he sees gold continuing to rise even after a record-setting run so far in 2025, but he also said he'd be concerned if the price rose significantly higher. "I'd be really happy if it went to $3,500 or $3,800; I'd be really unhappy if it went to $30,000 or $50,000," the billionaire investor told CNBC on the sidelines of the Sohn Investment Conference in New York. Bullion briefly peaked at $3,500 per ounce in April, a move many have tied to tariff-linked inflation concerns. Gold is historically considered the premier hedge against runaway price growth, which could justify the metal's 22% surge so far this year. But even as prices have eased to a one-month low amid softer inflation data, Einhorn sees gold continuing to rally for other reasons. "Gold is not about inflation. Gold is about the confidence in the fiscal policy and the monetary policy," he said, suggesting that the government has become aggressive on both fronts, altogether contributing to a deficit policymakers are largely ignoring. In his view, gold's appreciation reflects disappointment in the efforts to slim the $1.9 trillion federal budget deficit. Einhorn pointed to the Department of Government Efficiency, an agency that initially promised to slash $2 trillion in federal spending. "A few months have gone by — It's like $150 billion, maybe," Einhorn said. "That's enough to cover next year's defense funding spending increase; that's going to get eaten up really, really fast." The same goes for tariffs, which the administration touted as a massive boost to government revenue. But Einhorn said the new duties appear set to bring in around $100 billion. Fiscal concerns will also continue to grow with the new tax policy, with Trump expected to extend his 2017 tax cuts. The bill unveiled by Congress this week is expected to add trillions to the deficit over 10 years. "We're not really concerned about the deficit. There's a bipartisan agreement to do nothing about the deficit until we actually get to the crisis," Einhorn summarized. If this continues to propel gold higher, that should continue to boost Greenlight's portfolio. The hedge fund beat the S&P 500 with an 8.2% gain in the first quarter, previously noting that gold's 19% advance made it the fund's "biggest winner." However, doubt has risen as to whether the precious metal can keep climbing this year. ING expects gold to average $3,128 per ounce through 2025, citing that some tailwinds are losing momentum. Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Miami Herald
16-05-2025
- Business
- Miami Herald
Billionaire fund manager makes $40 million bet on Dollar Tree
It has been getting increasingly difficult to tell what's a good investment and what's simply a flash in the pan. Several healthcare and pharmaceutical stocks that were darlings of the past several years, for example, are some of the worst performers of 2025 so far. Related: Popular outdoor retailer closing all stores, no bankruptcy Moderna is down over 43% on the year, while United Health is down over 45%. A couple of years ago, however, both of these stocks would have been easy recommendations to your neighbor or curious friend at dinner. Several key factors have made investing a murkier process nowadays. A higher cost of living and persistent inflation has shied many investors away from big swings. And the ongoing drama between China and the U.S. as tariffs are brought on and off the table makes things like trade and value even more complicated. On the other hand, some of the top performing stocks in the S&P in 2025 have been a smattering across multiple sectors. Palantir is up over 70% in 2025 as of this writing. More Retail: Home Depot makes drastic budget-friendly move to take on Lowe'sStruggling cosmetics brand sounds alarm, laying off thousandsPopular Trader Joe's wine brand has bad news, making harsh choiceStruggling retail chain sounds the alarm on growing problem Philip Morris is up about 40%. And Uber is up 27%. For investors seeking value, however, it can be hard to justify buying some of the highest flying stocks at what could be their near-term highs. So some fund managers are looking for areas of opportunity, and some of those pockets might be in the embattled retail space. So David Einhorn's DME Capital Management has acquired 440,000 shares of Dollar Tree (DLTR) . The stake was likely acquired for around $40.5 million. Dollar Tree was trading at an average price of $92 during Q1 2025, when the position was opened. Analysts have set a one-year price target for Dollar Tree at $85.01, which indicates a minor downside, though Einhorn is known for identifying value targets. Related: Popular retailer raises red flag, multi-million dollar write-down Dollar Tree is in the midst of a turnaround plan. In 2015 it acquired rival Family Dollar for approximately $9 billion. In 2025, it sold Family Dollar for a steep loss at $1 billion. About 900 Family Dollar stores will be shuttered around the U.S. while Dollar Tree opens up about 300 new stores. It will also increase price points up to about $7 and begin offering more high-interest inventory. Dollar Tree currently trades at about $86.58 as of this writing. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
