David Einhorn Comments on Apple, Still Short Green Mountain
On Friday, David Einhorn of Greenlight Capital spoke at Columbia Business School. Benzinga was first to break the story.
Einhorn made several noteworthy comments:
- Einhorn was positive on Apple (NASDAQ: AAPL) as a business. He said that, in general, the TV business is one of very low margins, but that Apple can be successful even if the TV business is not. Einhorn said that if Apple wanted to enter the market, their device must truly be revolutionary.
- Einhorn also addressed Research in Motion (NASDAQ: RIMM). He said that RIM had "critical mass problems" but the balance sheet was reasonable. Einhorn said that the stock was not great, but was not a short.
- On Dell (NASDAQ: DELL), Einhorn said that the company's decision-making process was improving. He stated that it was smart for the company to buyback shares at $15, and that the company was sitting on $7 per share in cash.
- Einhorn has been one of the most famous Green Mountain Coffee (NASDAQ: GMCR) bears. Einhorn stuck to his stance, and reiterated that he remained short on the company. Einhorn stated that there were 20-30 ways for his short thesis to play out.
- Einhorn has also been bearish on St. Joe (NYSE: JOE), and made additional comments on the company. He stated that the real estate development in Florida had not been successful, and that the company's land value was $7 per share.
- Einhorn stated that he was long gold. He called Federal Reserve Chairman Ben Bernanke a "fanatic."
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