For all amateur traders, knowing the right people in the industry to look up to is extremely important. If you invest in hedge funds, one of the most important persons you should know about is David Einhorn. A US-based hedge fund manager, he and his wife, an award-winning financial reporter, are known as one of the most powerful Wall Street couples. He is the founder and current president of the hedge fund company Greenlight Capital, which was established in 1996. Started with a total capital of $900,000, the company has since then generated, on average, a 20% annualized investors return, all because of the excellent management of Einhorn.
He is also the Chairman and major stockholder in a reinsurance company in Cayman Islands, Greenlight Capital Re, Ltd. He is also one of the best poker players in the world with several notable poker wins in his bag, and a philanthropist working for several charities. He also wrote the book Fooling Some of the People All of the Time: A Long, Short Story in which he has talked about Wall Street affairs, financial regulators and financial media in an engaging, interesting, humorous and somewhat scandalous way. While thats his main bio, you must be wondering why exactly you should know about him if you are trading in hedge funds. Here are some reasons why you need to do so:
A Fund Manager with Unmatched Skills
If you are looking to follow a hedge fund manager to track their movements and predictions in the market, there is no one better than Einhorn you should pick. Apart from managing his own companies, he also worked as the CEO of New Century Financial Corp between 2006 and 2007, and is also currently working with Portfolios with Purpose as one of the founding Master Players. Despite the fact that his company faced a lot of problems in the last year, he still managed to generate a 20% profit.
As a hedge fund manager, there is no doubt about the fact that he knows where investments should be made to be successful, so you wont regret following him. He has also shared a wealth of knowledge about the financial market in his book, so thats another thing you can use a guiding force once you start trading. He has also filed lawsuits against numerous top companies, revealing practices that were not properly accounted for at times. His successful lawsuits against Allied Capital, Lehman Brothers, Green Mountain Coffee Roasters and Apple Inc. gained him quite a reputation in the market.
A Remarkable Poker Player
Its not just his performance as a hedge fund manager thats impressive. His poker skills are equally charming too. He has won several poker tournaments in the past, donating most of his earnings from these competitions to charities. In 2014, he finished third in the World Series of Poker in Las Vegas, which resulted in him winning around $4.35 million in rewards, almost four times the money he invested in the beginning. Again, he announced to donate this entire sum of money to a charity. Einhorn defines his poker playing skills as a reflection of his investment strategy as according to him, both things have a lot in common. From assessing the opportunities to analyzing your rivals, a lot is similar in investing and poker according to David.
Following Davin Einhorn for Trading
Following a successful trader to copy their trades is a common practice in the investment market nowadays, which frees the new traders from the hassle of monitoring the market themselves. All they have to do is pick the right trader and stay prepared then for all the profits and losses that trader can earn for them. David Einhorn is among the most followed hedge fund managers in the trading market today due to his uncanny ability to pick winning stocks.
His major investments are made in the technology sector, which is currently showing great growth potential, leading him and those who follow him, to considerable monetary gain. If you really need to follow a reliable and successful investor while you learn the ropes of trading, David Einhorn is definitely your guy. Learn more about him and you will only be impressed more.