David Einhorn-
“But the market is now dominated by passives, index funds, which buy what everyone else has already decided things are worth, or algorithms, which are basically trying to figure out what is everybody else doing and how do I front run that, or retail, which is buying things because they think it’s cool or they think it’s going up."
"And so most of the investing these days is no longer done by people who are buying something because they think it’s worth more. They have opinions about price, like what is the price going to be tomorrow. And so the result is most trading that is going on right now has nothing to do with value."
"So it leaves us sort of as a dinosaur. We’re one of the remaining few people left who are looking at things on a traditional basis.”
The few true active/value/special situations firms left will be the seeds for the next cycle, patience.
#ValueInvesting
$NVDA Gained 247 Billion Dollars in Market Cap in the last 12 Hours
$AMD Market Cap: 264 Billion
Imagine gaining the entire value of your biggest “competitor” in one night 🤣
After Nvidia, $NVDA's earnings, it is up 15%, hitting ATH!!!
And you guessed it, so did Nancy Pelosi's portfolio.
She is up now 87% in the past 12 months, a new record.
She has made more than ten million YTD on her stock portfolio.
The S&P 500 $SPY and NASDAQ 100 $QQQ both just had their best days in over a year
S&P 500 CLOSES WITH BIGGEST DAILY PCT GAIN SINCE JAN 6, 2023
NASDAQ REGISTERS BIGGEST DAILY PCT GAIN SINCE FEB 2, 2023