Hedge-fund founder David Einhorn is betting on U.S. stocks to keep falling as inflation proves more stubborn than many on Wall Street expect.
Hedge-fund founder David Einhorn is betting on U.S. stocks to keep falling as inflation proves more stubborn than many expect, according to comments he made during a Wednesday interview with CNBC’s “Halftime Report.”
He... Hedge-fund founder David Einhorn is betting on U.S. stocks to keep falling as inflation proves more stubborn than many expect, according to comments he made during a Wednesday interview with CNBC’s “Halftime Report.” He added that he expects interest rates on both the short- and long-term notes to keep on climbing. Yields on cash-equivalent six-month Treasury bills recently topped 5%, meaning short-term debt is currently offering investors a more attractive risk-adjusted return than U.S. stocks.
After years of losing money with bets against high-flying growth names like Tesla Inc. TSLA and Amazon.com Inc. AMZN , Einhorn’s Greenlight Capital, which he founded in May 1996, finally hit pay dirt in 2022 as many of the stocks in Einhorn’s “bubble bucket” cratered.
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