It was the third trigger of the recession indicator in less than two weeks.Bondsread more
U.S. manufacturer growth slowed to the lowest in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.Marketsread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Stocks fell as fears of an economic recession built up ahead of a key speech from Federal Reserve Chairman Jerome Powell.US Marketsread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
A Volkswagen spokesperson called the report that CEO Herbert Diess is interested in buying a stake in Tesla "completely unfounded."Technologyread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
Editor's note: This is PRO Strategy, a column on how to use the philosophies of the smartest minds on Wall Street to generate quality investment ideas.
David Einhorn is known for his successful short bets against stocks like Lehman Brothers, but his value buys on the long side have had just as much to do with his impressive multidecade track record. How can we learn from his success and apply his investment philosophy to a stock?
Einhorn started his Wall Street career as an investment banking analyst at Donaldson, Lufkin & Jenrette. After DLJ he joined Siegler, Collery & Co., an investment firm, before starting Greenlight Capital.
From inception in May 1996 to the end of 2015 Greenlight Capital generated annual net returns of 16.5 percent compared to the at 8 percent. The fund doubled the market's return, even after a rough 2015 when it was down 20 percent, according to an investor letter. This year is starting off better as the fund was up 3 percent at the end of the first quarter. Greenlight Capital has $9 billion of assets under management.
CNBC PRO researched Einhorn's strategy using previous media interviews and Greenlight Capital client investor letters. Here are the key themes of his philosophy.