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Billionaire Einhorn: 5 Best Stocks to Buy Right Now

Billionaire Einhorn: 5 Best Stocks to Buy Right Now
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By    |   Friday, 08 November 2019 01:09 PM

Billionaire David Einhorn recently shared his latest views regarding the markets and individual stocks in his third-quarter investor letter, spotlighting five of his top picks.

  • AerCap Holdings NV (AER)
  • Altice USA Inc. (ATUS)
  • Brighthouse Financial Inc. (BHF)
  • General Motors Co. (GM)
  • Green Brick Partners Inc. (GRBK)

Einhorn’s Greenlight Capital had a losing month in October, paring gains for this year to 16%.

Greenlight, which follows a value-oriented strategy, fell 6.3% across its hedge funds in the month, according to an update seen by Bloomberg. The S&P 500 Index returned about 2.2% with dividends reinvested, while value stocks gained about 1%.

Einhorn, who oversaw $12 billion at his firm’s peak, is in the midst of a resurgence following his worst year on record in 2018, when his main fund lost 34%. The hedge fund manager, who has remained committed to his strategy of buying beaten-down stocks while shorting growth companies, vowed earlier this year to rework his portfolio by making fewer, more-concentrated investments.

Some of New York-based Greenlight’s short wagers, including Tesla Inc. and Netflix Inc., may have contributed to losses as they rallied in the month. Tesla’s shares surged 31% on the back of a surprise earnings report, paring their decline for this year to 5.4%, while Netflix gained 7.4%.

Of Netflix, Einhorn told investors that the company has “yet to demonstrate a profitable business model,” according to a separate quarterly letter to investors earlier in the week. He said he added a new small long position in Siltronic AG in the third quarter, during which the hedge fund gained 5.6%.

Material from Bloomberg and Reuters has been used in this report.

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Billionaire David Einhorn recently shared his latest views regarding the markets and individual stocks in his third-quarter investor letter, spotlighting five of his top picks.
billionaire, einhorn, 5, stocks
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2019-09-08
Friday, 08 November 2019 01:09 PM
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