Last week I posted a 13F comparison for the Fairholme fund manged by famed value investor Bruce Berkowitz. Continuing with this theme I’ve provided below the 13F comparison for Greenlight Capital and David Einhorn.
David Einhorn made a name for himself with his appearance at the 2002 IRA Sohn conference. In his speech he made a compelling case as to why Allied Capital was a stock to short. From here it became a lengthy and interesting battle between Greenlight Capital and Allied Capital which you can read about in David’s book “Fooling Some of the People All of the Time: A Long Short (and Now Complete) Story
RSS subscribers will need to come to the website to view the scribd document.
Spreadsheet made from data provided by Whale Wisdom.
I like to look at 13F comparisons as idea generators and last week’s look at the Fairholme Fund (FAIRX) unearthed BP Plc (BP) as a new holding and an interesting stock to research further especially after the long case outlined by Whitney Tilson and T2 partners.
With Greenlight Capital we see several new holdings including Apple Inc.(AAPL) which is not the first stock that comes to mind when thinking “value investing”. However, Einhorn and company outline their “value” reasons for Apple Inc. in their 2nd quarter letter to investors which you can read courtesy of Dealbreaker.
I’m more interested in the small but new position in Furiex Pharmaceuticals (FURX). While Furiex was a spin-off from Pharmaceutical Product Development Inc. (PPDI) Greenlight Capital did not have a position in Pharmaceutical Product Development the previous quarter. What was so compelling about this small spin-off? Oozing Alpha might have the answer with their recent post “Furiex Pharma: Spinoff Trading at Net Cash“.
