Here's the Billionaire Investor You Should Be Following and He's Not Warren Buffett or Bill Ackman

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기관·억만장자 투자자 추종의 유용성을 강조하며 David Einhorn(Greenlight Capital)을 소개. 그는 Allied Capital 공매도, 2007년 Lehman 공매도 등으로 알려졌고, 가치투자 접근이 시장구조 변화(패시브·알고리즘 자금)로 약해져 대형주 포트폴리오를 저평가·주주환원 기업 중심으로 조정했다고 설명. Green Brick Partners(GRBK) 투자 성과(연평균 13.1% 대 S&P500 9.5%, 최근 1년 약 2배)를 근거로 제시하며, 채널은 그의 장기 역량과 관점을 주목할 가치가 있다고 주장.

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01. institutional and billionaire investors are great to follow for new investment ideas and as a way to check your thesis Buffett and Amman are two of the best investors in the business due to their leading returns and Decades of experience but they aren't the only ones worth tracking David Einhorn is a value investor but one who is willing to adapt let's dive in here's the billionaire investor you should be following and he's not Warren Buffett or Bill Amman welcome to timely investment research it's always a good idea for individual investors to look at what institutional investors also called the smart money are choosing you should never base your decisions solely on others without doing research but institutional investors have been professionally trained and they often have Decades of experience and the returns to back it up following these successful investors is also a good way to find new ideas and check your thesis still too often I feel like individuals are only looking at two or three of the best investors instead of casting a wider net Warren Buffett and Bill Amman certainly come to mind I have nothing against Buffett or Amman who are certainly twoo of the best ever but here's the billionaire I think people should be following a strong record despite fundamental shifts David Einhorn manages hedge fund Greenlight Capital which he launched at the age of 27 after raising about $900,000 from family and friends Einhorn Rose to prominence from betting against or Short Selling Allied capital in 2002 when he questioned the company's accounting practices years after he announced his short position the Securities and Exchange Commission validated einhorn's thesis finding that Allied did indeed break securi laws due to its accounting practices Einhorn also played a key role during the Great Recession when he shorted Leman Brothers in 2007 due to the company's underwatered Securities Holdings but like many of the greats Einhorn also is known for his value investing approach in which he looks for stocks trading below their intrinsic value earlier this year he said that he believes the practice of value investing might be dead due to the broken Market structure and the rise of passive investing value is just not a consideration for most investment money that's out there there's all the machine money and algorithmic money which doesn't have an opinion about value it has an opinion about price what is the price going to be in 15 minutes and I want to be ahead of that this shift in Market structure has led him to change is investing Philosophy for his larger company Holdings now he focuses on companies that look cheap in value and return Capital to shareholders through repurchases or dividends it's always a good sign to see even the best investors adapt even though Einhorn is probably frustrated by this shift in Market structure despite changing his strategy he has generated strong long-term returns Greenlight has average annual returns of 13.1% since its launch in 1996 compared to to 9.5% for the broader Benchmark S&P 500 that equates to a total return of over 2,900 compared to the S&P 500's 1,7% einhorn's big winner the largest position in greenlight's portfolio is a homeb building company called green brick Partners grbk minus 2.27% he founded green brick in 2006 with experienced real estate investor and homebuilder Jim Brickman in 2008 amid the housing market collapse Einhorn and Brickman started a real estate Equity Fund where they initially began buying land and lending to distressed Builders by 2013 the housing market had bounced back and their fund had amassed a lot of land needing Capital to grow the two took the fund public and it became green brick Partners Brickman became chief executive officer and Einhorn became chairman of the board Greenlight Capital began purchasing green brick shares in the fourth quarter of 2014 at an average price of $720 its first purchases amounted to roughly $112 million while Greenlight has been in and out of the stock over the years the position is currently valued at about $950 million Einhorn and Greenlight still owned more than 25% of its shares according to Green Brick's most recent proxy the stock has almost doubled in the past year and is up more than 670 per during the past 5 years all of those land purchases since 2006 have been a differentiator for green brick in the Home Building business at the end of the second quarter of 2024 it owned more than 28,500 Lots most of which are in the growing Market of Texas as inventory and land have become more limited and competitive to acquire especially in strong and desirable housing markets this strategy has paid off handsomely a value investor with plenty of Runway when I look at einhorn's current Holdings I see that he still owns plenty of value stocks which I always find to be the most interesting to evaluate because they trade at attractive valuations and their Futures depend on their ability to pay down debt generate cash flow and transform the trajectory of their earnings however inhorn is cognizant of changing market dynamics and is willing to adapt an important characteristic for any investor at just 55 years old he has plenty of Runway left in his investing career I believe and is a smart person with a unique View VI point that individual investors should watch and study thanks for spending some time with us today timely investment research we so glad you did if you found value in today's video please give us a like hit that Bell icon to never miss an upload and hey don't forget to subscribe