Friday, 29 August 2014
Last updated 15 hours ago
May 8 2013 | 8:49am ET
It wasn't exactly what he called for, but Apple Inc.'s decision to return $100 billion to shareholders is good enough for David Einhorn.
The Greenlight Capital chief said yesterday that the hedge fund had added to its already-substantial Apple stake, although he did not say by how much. Earlier this year, Einhorn pushed Apple to return some of its $137 billion cash horde to investors by issuing preferred shares, and sank the company's proxy proposal to bar such issuance without shareholder approval.
While he didn't get that, he said on a conference call for reinsurer Greenlight Capital Re that Apple took a "major step forward" with a "vastly more shareholder-friendly policy."
"We've added to our Apple position," Einhorn said. "Now we just wait for the release of Apple's next blockbuster product."
Einhorn also said he was caught out by gold's swoon last month, noting that he was "somewhat surprised" by its losses. But he said he remains committed to gold.
"We believe that recent events, including the regime change at the Bank of Japan, support our long-term thesis of both a weaker yen and stronger gold."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...