David Einhorn made only 2% gain in 2017

helpme_please said:
What kind of bull market is this? Why can't the smart guys perform in this idiot market?
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Many legendary value investors got destroyed in the 1998/1999 period as value got trashed and growth stocks (which many shorted) soared higher and higher. Think long airlines and commodity stocks, short tech stocks. Look up the charts and you'll feel their pain. It took a few years until 2001/2002 until they got redemption.

The lesson here is value investors (just like any other investing/trading styles) don't always do well, there are markets where they face stiff headwinds, sometimes for multiple years in a row.
 
helpme_please said:
When I hear Mr Einhorn speak, I know for sure he has a brain 10x better developed than mine. My admiration is sincere. Just search for david einhorn on youtube and you will probably agree with me. I am surprised that he made only 2% gain in 2017.

The strangest thing about 2017 is the under-performance of smart hedge fund managers. Several closed down. What kind of bull market is this? Why can't the smart guys perform in this idiot market?

https://www.bloomberg.com/news/arti...ge-fund-rises-2-in-2017-with-december-advance

The gain boosted the fund’s return to 2 percent for 2017, according to an email to clients that was seen by Bloomberg News. The fund, which mostly makes wagers on stocks, struggled to profit in a year where the S&P 500 Index returned more than 20 percent, including reinvested dividends.
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But on a risk adjusted basis, which is how the professionals keep score, he beats SPY and most mom and pop retails like me. :D

Whereas I only care about the size of my account at the end of the year, don't care about and don't really understand risk adjusted basis.
 
"I know for sure he has a brain 10x better developed than mine. My admiration is sincere."

Who said this is an IQ game? Certainly not Mr Buffett, who said to the contrary.
How can a "genius" be short in such an uncommonly raging bull market as in 2017 ?
 
Butterball said:
Many legendary value investors got destroyed in the 1998/1999 period as value got trashed and growth stocks (which many shorted) soared higher and higher. Think long airlines and commodity stocks, short tech stocks. Look up the charts and you'll feel their pain. It took a few years until 2001/2002 until they got redemption.

The lesson here is value investors (just like any other investing/trading styles) don't always do well, there are markets where they face stiff headwinds, sometimes for multiple years in a row.
More...
%%
That is a strange pattern, long airline stocks, but someone has to do it , not me:D
 
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