David Einhorn moves markets – except when it comes to Apple

“David Einhorn is one of the few hedge-fund managers whose views can instantly move a stock,” Brendan Conway writes for Barron’s. “They’re ‘the closest thing in finance to self-fulfilling prophecies,’ as Bloomberg puts it. Except, in a peculiarity, when it comes to Apple.”

“Bloomberg Businessweek’s upcoming cover story, ‘The Einhorn Effect,’ recounts a few reasons the iPad maker’s stock hasn’t rebounded in spite of the Greenlight Capital manager’s entry,” Conway writes. “The magazine is putting out a preview this morning of what sounds like a must-read for watchers of the hedge-fund business.”

Read more in the full article here.

Nick Summers writes for Businessweek, “Einhorn, used to having investors rushing to follow in his footsteps, was suddenly in the unusual position of fighting the market. ‘If you’re accustomed to being someone who, when you breathe, markets respond, the risk is that you can come to believe that that’s going to be true without exception,’ says Simon Greer, CEO of Nathan Cummings. ‘And when you then step into an arena with ISS and CalPERS and others—and certainly Apple’s management—and you don’t get that reaction? Then you’re in uncharted territory.'”

Much more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

Related articles:
Greenlight Capital’s Einhorn drops lawsuit against Apple – March 1, 2013
Why David Einhorn’s win may be Apple’s gain – February 26, 2013
Apple’s cash drama is far from over; Einhorn’s victory could embolden others – February 26, 2013
Apple loss to Einhorn ups pressure for AAPL shareholder payout – February 25, 2013
Judge sides with Einhorn, halts Apple shareholder vote on Proposal No. 2 – February 22, 2013
Einhorn says Apple ‘iPref’ stock would unlock pent up value – February 21, 2013
Greenlight’s Einhorn outlines his plan for Apple to return more cash to shareholders – February 21, 2013
Einhorn’s Greenlight Capital: Every Apple shareholder should get preferred shares ‘for free’ – February 21, 2013
Hedge fund manager Einhorn takes Apple campaign to shareholders via conference call – February 21, 2013
Einhorn’s lawsuit against Apple hangs on ‘irreparable harm’ – February 20, 2013
Greenlight makes case to stop Apple preferred-stock vote – February 19, 2013
Apple accused by Greenlight of breaking law by bundling – February 16, 2013
Judge approves Apple request to expedite Einhorn’s Greenlight Capital case – February 11, 2013
Apple’s cash return options: Pay U.S. tax man or incur massive debt – February 11, 2013
Bernstein’s Sacconaghi: Most important for Apple is a capital allocation plan – February 11, 2013
Evaluating David Einhorn’s proposal to Apple – February 9, 2013
The colossal gall of bad Apple investors – February 8, 2013
Cramer: By suing Apple, wrong-headed Einhorn has gone too far – February 8, 2013
Analysts: Apple may crack open its massive, bulging wallet for shareholders – February 8, 2013
Apple with $137 billion in cash considers preferred stock – February 8, 2013
Einhorn’s Apple lawsuit marks biggest investor challenge in years – February 8, 2013
Gamco’s Haverty: Apple’s cash is ‘shareholders’ cash’ (with video) – February 8, 2013
Apple shares surge following company response to Einhorn – February 7, 2013
Greenlight’s Einhorn sues Apple over plan to eliminate preferred stock, wants more cash distributed – February 7, 2013
Greenlight Capital urges Apple shareholders to vote ‘No’ on proposal 2 that would impede Apple’s ability to unlock shareholder value – February 7, 2013
Greenlight’s Einhorn sues Apple, ‘dissatisfied with capital allocation strategy’ – February 7, 2013
Legg Mason’s Miller: Apple stock would rise 50% on ‘sensible capital allocation’ alone – February 6, 2013
Gamco’s Haverty: Apple board can be sued over excessive accumulation of cash (with video) – January 28, 2013
Greenlight’s Einhorn: Apple ‘the best big growth company’; Fed stimulus ‘counterproductive’ – July 10, 2012
David Einhorn says Apple isn’t a below-average company, it’s just priced like one – May 30, 2012


  1. Nothing is able to move Apple stock up except for the combined efforts of a dozen large hedge funds and now they have no interest in Apple. Netflix and Intuitive Surgical shares are always jumping all over the place, but Apple barely moves and the direction recently is usually down. I mostly hear about downgrades in target prices. Apple could so easily snap up a few businesses for effect, but we all know that won’t happen. It’s either increased iPhone sales or nothing and nothing seems to be the order of this quarter. It’s already going on eight months of nothing but somber news from Apple.

  2. “The magazine is putting out a preview this morning of what sounds like a must-read for watchers of the hedge-fund business.”

    Bloomberg has nothing that I value. If I put Bloomberg on any list at all it would be my “Must Avoid” list.

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