Latest news with #GreenlightCapital
Time of India
07-06-2025
- Business
- Time of India
Who is James Fishback? Doge architect steps away the moment Musk feuds with Trump; says 'it's time for Tesla CEO to apologize'
James Fishback James Fishback, the principal architect of the "DOGE checks" initiative, announced on Friday his withdrawal from the movement following Elon Musk's criticism of Donald Trump and demanded that Tesla CEO apologise to the President. "I believed in Elon Musk's vision to shrink government and make it work better for Americans. I'm proud of the DOGE Dividend proposal I developed and will keep working with the administration to return savings to taxpayers." Fishback said. "The truth is that Elon set expectations that he relayed to the President, me, and the country that he did not come close to fulfilling. That's disappointing, but okay. What's not okay is his baseless personal attacks against President Trump," he added. Praising President Trump, Fishback said that he is a once-in-a-century leader. He also said that the president won the popular vote, the Electoral College, and all seven swing states by championing the priorities in his Big Beautiful Bill which Musk said that he wants to 'kill.' President Trump has shown grace and patience at a time when Elon's behavior is disappointing and frankly downright disturbing, Fishback said and demanded aplology from Musk. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2 BHKs starts at ₹ 72.6 Lakh | No Floor rise | Zero PLC Mahindra Happinest Tathawade Get Quote Undo He said, "It's time for Elon to apologize to the President and his family, cool off, and get back to work on inventing the future at Tesla and SpaceX." Who is James Fishback? The founder of the investment firm, aged 30, was raised by a bus driver and a Colombian immigrant. He left Georgetown University to start a hedge fund when he was 21, as reported by MarketWatch. According to the LinkedIn profile, in his professional journey includes working at Greenlight Capital in 2021, followed by establishing Azoria in 2023, where he currently holds the CEO position. Additionally, he leads Incubate Debate, a non-profit organisation helping secondary school students develop debating skills. Currently, he is involved in legal proceedings with Greenlight Capital. The company claims he misrepresented his position, whilst he has filed a countersuit for defamation. In December, he visited Trump's Mar-a-Lago to introduce Azoria Meritocracy ETF, which aims to invest in S&P 500 companies avoiding diversity, equity and inclusion practices. He has connections with former DOGE representative Vivek Ramaswamy and appeared on his podcast in November, Newsweek reported. Regarding the origin of the "DOGE Dividend" proposal, he revealed to Newsweek that the concept occurred to him during sleep. He stated, "It came to me in a dream. I woke up and called our Head of Research at Azoria, and we drafted the proposal during a two-hour lunch at Capital Grille." His "DOGE Dividends" concept aligns with his broader perspective of governmental rewards for citizens who identify wasteful expenditure. He stated, "... DOGE can save even more and as a result deliver an even bigger DOGE Dividend check to hard-working Americans." The proposal indicates that approximately 79 million American households could receive direct payments for reporting inefficiencies, potentially leading to increased savings. Sceptics suggest that while the plan is ambitious, it could potentially increase inflation and might be perceived as politically motivated rather than genuine financial reform. Fishback, who established a self-described "free thinking" investment company, rose to prominence amongst conservatives when he suggested distributing $5,000 stimulus payments to American taxpayers, which would be funded through DOGE's anticipated government savings. Despite never officially becoming part of DOGE, Fishback's "DOGE checks" concept received endorsement from Musk on X and caught Trump's attention, who showed interest in a "DOGE dividend." In December, Fishback introduced his anti-woke investment fund at Trump's Mar-a-Lago estate.
Bloomberg
04-06-2025
- Business
- Bloomberg
Bloomberg Wealth: David Einhorn
Greenlight Capital Founder and President David Einhorn discusses the challenges of value investing in the current market environment, his investment approach, and the performance of his fund over the years. Einhorn expresses concern about the US government's fiscal and monetary policies, which he believes are fundamentally inflationary. He speaks with David Rubenstein on this week's episode of Bloomberg Wealth. This episode was recorded April 10 in New York. (Source: Bloomberg)
Bloomberg
28-05-2025
- Business
- Bloomberg
Greenlight Capital's Einhorn Is Net Long Europe, Neutral on US
Greenlight Capital Inc. founder David Einhorn is long Europe, particularly the region's industrials, after seeing tailwinds from government stimulus efforts, falling global energy prices and the prospect of a peace deal in Ukraine. Einhorn is also wary of America's ability to accept pain when it comes to a trade war with China, because 'no one seems to be interested in empty shelves,' he said in an interview at the Sohn conference in Montreal on Wednesday. But China's technological sophistication, its cheaper labor and the fact that it's long been preparing for economic conflict with the US means America should 'be prepared to be punched in the face.'
Yahoo
17-05-2025
- Business
- Yahoo
Billionaire investor David Einhorn explains why gold will keep rising — and it's got nothing to do with inflation
"Gold is not about inflation," David Einhorn told CNBC. The billionaire investor says gold is rising on deficit fears. His fund crushed the S&P 500 last quarter thanks to a big bet on gold. David Einhorn's Greenlight Capital crushed last quarter by betting big on gold, and the hedge fund boss said the metal's big rally isn't done yet. Einhorn said that he sees gold continuing to rise even after a record-setting run so far in 2025, but he also said he'd be concerned if the price rose significantly higher. "I'd be really happy if it went to $3,500 or $3,800; I'd be really unhappy if it went to $30,000 or $50,000," the billionaire investor told CNBC on the sidelines of the Sohn Investment Conference in New York. Bullion briefly peaked at $3,500 per ounce in April, a move many have tied to tariff-linked inflation concerns. Gold is historically considered the premier hedge against runaway price growth, which could justify the metal's 22% surge so far this year. But even as prices have eased to a one-month low amid softer inflation data, Einhorn sees gold continuing to rally for other reasons. "Gold is not about inflation. Gold is about the confidence in the fiscal policy and the monetary policy," he said, suggesting that the government has become aggressive on both fronts, altogether contributing to a deficit policymakers are largely ignoring. In his view, gold's appreciation reflects disappointment in the efforts to slim the $1.9 trillion federal budget deficit. Einhorn pointed to the Department of Government Efficiency, an agency that initially promised to slash $2 trillion in federal spending. "A few months have gone by — It's like $150 billion, maybe," Einhorn said. "That's enough to cover next year's defense funding spending increase; that's going to get eaten up really, really fast." The same goes for tariffs, which the administration touted as a massive boost to government revenue. But Einhorn said the new duties appear set to bring in around $100 billion. Fiscal concerns will also continue to grow with the new tax policy, with Trump expected to extend his 2017 tax cuts. The bill unveiled by Congress this week is expected to add trillions to the deficit over 10 years. "We're not really concerned about the deficit. There's a bipartisan agreement to do nothing about the deficit until we actually get to the crisis," Einhorn summarized. If this continues to propel gold higher, that should continue to boost Greenlight's portfolio. The hedge fund beat the S&P 500 with an 8.2% gain in the first quarter, previously noting that gold's 19% advance made it the fund's "biggest winner." However, doubt has risen as to whether the precious metal can keep climbing this year. ING expects gold to average $3,128 per ounce through 2025, citing that some tailwinds are losing momentum. Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
16-05-2025
- Business
- CNBC
How to trade gold and bitcoin after the big stock market rebound
Gold has cooled after a year-long rally that sent the commodity to a gain of 35%, but even with stocks in rebound mode, the market hedge has room to move higher, according to David Schassler, head of multi-asset solutions at fund manager Van Eck. "I couldn't imagine a better backdrop for gold," said Schassler on this week's CNBC "ETF Edge." The U.S. government has "huge debt, huge spending and huge chaos" Schassler said, adding that he doesn't see that changing anytime soon. Hedge fund icon David Einhorn of Greenlight Capital echoed that sentiment on CNBC's "Closing Bell" in an appearance Wednesday from the Sohn Investment Conference. "There's a bipartisan agreement to do nothing about the deficit until we get to the next crisis," he said. Einhorn is long gold and said he thinks it could reach $5,000 in 2026. Schaasler also called for the price of gold to hit $5,000 next year. Schassler is also bullish on the market's newer hedge, crypto, and sees the two asset classes moving in the same direction. "Bitcoin is the risky cousin of gold" he said. While it is subject to big swings in sentiment and can trade in tandem with a risk-off move in stocks, bitcoin is up about 60% in the last year, and in contrast to gold's recent dip, bitcoin is up 10% over the last month. There are new tools from the ETF industry investors may want to consider to capture upside in bitcoin while limiting risk, according to VettaFi head of research Todd Rosenbluth. "I'm impressed with what's happening in the options-based world with ETFs," he said about crypto ETFs with built-in protection on this week's "ETF Edge." The use of options to limit volatility in returns has become popular with equity ETFs, but Rosenbluth also recommends investors consider ETFs like the Calamos Bitcoin 80 Series Structured Alt Protection ETF (CBTJ). There is an upside cap, but if the underlying assets fall more than 20%, an investor's maximum loss stops there.
