David Einhorn

“I rooted for the Milwaukee Brewers and its stars, Robin Yount and Paul Molitor. I went to a lot of games, including the World Series in 1982. The Brewers may have been a bad team for most of my life, but to have your team at its peak when you are thirteen years old is an experience I wish for every fan.”

“Investing in a poker game and investing in stocks, at least the way I do it, it's a very similar skillset.”

“We never invent new reasons to continue with a position when the original reasons are no longer available.”

“After my undergraduate, I've written a thesis that was in the government department, but largely, it turned out almost an economic type of thesis. And I was very interested in that, and I wanted to go get a Ph.D. in Economics.”

“We take the traditional value investor's process and just flip it around a little bit. The traditional value investor asks 'Is this cheap?' and then 'Why is it cheap?' We start by identifying a reason something might be mispriced, and then if we find a reason why something is likely mispriced, then we make a determination whether it's cheap.”

“In my business investing, you are buying a stock, and someone else is selling the stock. Right there, that's like a debate. Is the stock going up, or is it going to go down?”

“We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were wrong about something, in terms of why we did it, we exit, period.”