David Einhorn at the Value Investing Congress
Here’s the link to David Einhorn’s presentation at the value investing congress: Liquor before Beer… In the Clear
Also, there’s an article from Bloomberg on the talk:
Hedge-fund manager David Einhorn said JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. are among banks that the government should break up to ensure no company is “too big to fail.”
Einhorn said he’s buying gold to bet against the dollar because U.S. government and Federal Reserve policies may undermine the currency. Rather than buoying banks with bailouts, the U.S. should decide which lenders endanger the financial system and force them to shrink, he said.
“The lesson of Lehman should not be that the government should have prevented its failure,” Einhorn, who runs New York- based Greenlight Capital Inc., said in a presentation at the Value Investing Congress in New York. “The lesson of Lehman should be that Lehman should not have existed at a scale that allowed it to jeopardize the financial system.”
Einhorn Says U.S. Should Make JPMorgan, Wells Shrink (Update3)
