Hedge fund legend David Ian Horn warns that investors aren’t doing their homework, predicts stubborn inflation, and says in a new interview that cryptocurrencies are too complicated for him. Here are the top 10 references.

David Ian Horn

  • David Ian Horn reminded investors that not every non-profit start is the next Amazon.
  • The Green Light Capital boss said the crypto is too complex and uncertain for him.
  • The Constitution Horn blamed low investment in businesses for some of the current shortage of business products.
  • See more stories on the Insider Business page.

Hedge fund manager David Ian Horn warned that not every loss-making startup would be the next Amazon, complained that very few investors were scrutinizing the company’s accounts, and in a Real Vision interview this week presented anti-inflation. Predicted

The Green Light Capital boss also lamented the people’s tendency to invest, which was based on market sentiment rather than fundamentals, and said that the corrupt currency was too complex and uncertain for him to trade. ۔

Einhorn’s 10 best excerpts from the interview, lightly edited and bold for clarity.

1. “The bubble debate poster baby is Amazon. It was a company with no real prospects for margins, but in the end it turned out to be a very lucrative thing. Right now there are all kinds of companies to benefit from. The result is skepticism. “

2. “America Online is no longer the dominant company it used to be. Today there are some companies that are considered to be similarly dominant or potentially dominant, which, 20 years from now, could easily be like America Online. Are. “

3. “People have basically abandoned the critical analysis of accounting. It’s not something that anyone is particularly interested in. Companies that have ethics do their accounting properly. And those companies What they don’t do, they don’t do. “

4. “Now the debate is not necessarily about the operation of a business. A lot of people are not doing financial analysis. For a sweet life.

5. “Companies can report shocking news and have very little share price reaction to it. It’s not like stocks are hated, no one is actually listening. No one is on call, no analysis. No, no one is recommending the stock. There is no one there to buy the stock. “

6. “I’m not in the throes of temporary inflation. The private sector is allocating all the money to companies in the fast-growing, software, food world. It’s not allocating money to the companies that actually make things.” There are and others provide. Services that people find less interesting mean they are lacking now. “

7. “We are seeing shortages in the economy because people have not invested. There is also a shortage of copper, coal, natural gas, oil, and all kinds of other basic materials and agricultural things. This is the result. The market is only refusing to impose a fair price on equities for firms that are a little more bored than software companies.

8. “There’s a lot going on right now that I just put in the ‘very difficult’ bucket. At least for me, corruption is very difficult. It’s disorganized. It’s infinite. On the other hand, it’s a real one. In a way, it is a violation of the social norms of the society

9. “Some people think, ‘Here we are right now, these are the things you need, and they will go up and you should own them.’ “I’m worried about it because I don’t really understand why they’re making a good investment. They’ve done a lot better than me because they have things that should be owned right now.”

10. “There is a chance that owning a portion of the stock still represents ownership proportional to the company’s cash flow and profits.

Read more: A fund manager overseeing a 97 972 million portfolio made a big bet on energy and returned 94% to investors in one year. He presented a 4-part bull case for the sector with oil at multi-year highs – including 2 low-priced stocks.

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