Comments on: David Einhorn – Hedge Fund Titan then Poker Champion – Texas Holdem Investing in Reverse

By: DaveinHackensack

DaveinHackensack — Sat, 02 Jan 2010 08:25:14 +0000

Einhorn's an impressive guy. Didn't stop me from profitablyshorting one of his stocks last year.

By: MaskedFinancier

MaskedFinancier — Thu, 12 Nov 2009 10:30:01 +0000

Thanks for the comment Tony.
I’m not sure I would totally agree with your perspective on the relative difficulty of achieving an 80% return through either a long or a short.
I think the key factor which determines the relative skill in making money on a long or a short is the general market trend in place.
Over the long term since the general equity market trend is upwards that does mean that profiting from short positions is more difficult – Jim Chanos has often commented on the mindset required to be a short investor in a bull market.
However, there have been protracted bear markets, where clearly it would be easier to make investment profits as a short seller (following the market trend) rather than trying to fight the trend as a long-only investor.
I think the main point of that part of the article is that an 80% return in investing is an exceptional return – whether on the short or the long side.

By: uberVU - social comments

uberVU - social comments — Wed, 11 Nov 2009 05:48:47 +0000

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By: The World Series of Poker Investment Banker Steven Begleiter | Wall St. Cheat Sheet

Sat, 07 Nov 2009 04:32:28 +0000

[...] runs Greenlight Capital and is one of the most successful hedge fund managers of recent times. Einhorn came 18th in the 2006 WSOP and won $659,000 which he donated to charity. The amazing part of the story is that Einhorn had [...]

By: Tony Abbate

Tony Abbate — Wed, 28 Oct 2009 12:22:38 +0000

Good article. One flawed point is in reference to Eihorn’s shorts that returned 80%. The most a short can return is two times and that is only if the stock goes to zero. In my opinion 80% return on a short is harder to do than a two times return on a long position.