Friday, June 22, 2012

When You're Hot You're Hot: "David Einhorn’s Ira Sohn Scorecard" (AAPL; AMZN; MLM; X)

This is three day's old so the numbers have changed a bit.
From Insider Monkey:
Today we have seen reports about David Einhorn’s bearish US Steel (X) call and the stock’s poor performance since the Ira Sohn Conference. We like David Einhorn and believe he is an excellent stock picker, however focusing on one successful call isn’t the right way of evaluating David Einhorn’s true performance. You have to take a look at the performance of all of his calls and also report the performance of the market since then. Let’s take a closer look at David Einhorn’s calls:

1. Long Apple (AAPL): Einhorn was very bullish about the stock. Apple gained 5.9% since May 15th vs. 1.3% gain for the S&P 500 Index ETF (SPY).

2. Neutral Amazon (AMZN): Amazon lost 0.8% since May 15th. Einhorn was neutral about the stock.

3. Short Martin Marietta (MLM): This was Einhorn’s big short call at the event. The stock lost 7.9% since May 15th.

4. Short US Steel (X): The stock lost 23.1% since May 15th. Einhorn should have made this his big short call....MORE
Here's the WSJ's Deal Journal at the conference, May 16:

Ira Sohn Conference: Live Blogging The David Einhorn Show
David Einhorn, head of Greenlight Capital, has been on a roll recently. ...MORE
 No kidding.