David Einhorn is one of the most observed hedge fund managers in the industry. He gave advice to fellow investors: Do your own homework.
Einhorn was the guest of honor at the Sohn Investment Conference, the annual convention of the US$2 trillion dollar hedge fund industry share ideas and interact to talk shop.
He said, "It doesn't make sense to blindly follow me or anyone else into a stock. Do your own work." Einhorn is co-founder of Greenlight Capital, currently worth US$8.8 billion.
He is best known for forecasting the demise of Lehman Brothers, the investment bank before the 2008 financial crisis. He made the call in the 2008 Sohn conference.
He added that he does not 'speak about stocks to benefit from any price appreciations that might occur' and said that his fund is keen on continuing its program of investing in the medium to long term future.
For this year, his fearless forecast would be taking the long position in Oil States International Inc, saying that it was 'high-quality business that markets fail to appreciate.'
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