What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half.
David EinhornWhen people ask me what I do for a living, I generally tell them 'I run a hedge fund.' The majority give me a strange look, so I quickly add, 'I am a money manager.' When the strange look persists, as it often does, I correct it to simply, 'I'm an investor.' Everyone knows what that is.
David EinhornMicrosoft could help Facebook with one of the biggest challenges, namely monetizing its traffic without reducing the user's experience. It's obvious that Microsoft needs traffic and Facebook needs search.
David EinhornI will keep a substantial long exposure to gold -- which serves as a Jelly Donut antidote for my portfolio. While I'd love for our leaders to adopt sensible policies that would reduce the tail risks so that I could sell our gold, one nice thing about gold is that it doesn't even have quarterly conference calls.
David Einhorn