Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.World Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Billionaire hedge fund manager David Einhorn said value investing will make a comeback eventually and its ineffectiveness right now is just a "temporary phenomenon."
"The last time it happened was around 1999 when everyone was talking about eyeballs as the new paradigm for investing," Einhorn said Wednesday on CNBC's "Closing Bell, " referring to the dot-com bubble run in growth stocks. "That didn't end very well" for momentum investors.
Value investing is "due at some point for a significant recovery," he said. "When it reverts, it tends to revert pretty sharply. And I think it will do so."
Einhorn is optimistic about tax reform and the potential impact it will have on his investments.
"I actually think tax reform has a much better chance of passing than the health care package did," he said. "Companies we own in our portfolio tend to be profitable, so they tend to pay taxes. So lower corporate tax rates should really benefit them."
On the flip side, he added the stocks he is currently betting against don't generate significant profits, so tax reform will not help them much.
"We're kind of hoping tax reform will pass, and we expect that will be positive" for the firm's returns, the manager said.
Einhorn wrote about the recent underperformance of his main investing strategy in a letter to clients Tuesday obtained by CNBC.
"The market remains very challenging for value investing strategies, as growth stocks have continued to outperform value stocks," he wrote in the letter. "The persistence of this dynamic leads to questions regarding whether value investing is a viable strategy."
His hedge fund firm Greenlight Capital returned 6.2 percent in the third quarter, bringing its performance for 2017 through September to 3.3 percent. In comparison the S&P 500 rose 14.2 percent in the same year-to-date time period, according to the investor letter.
The investor wasn't sure when value investing will outperform again, he told his clients.
"The knee-jerk instinct is to respond that when a proven strategy is so exceedingly out of favor that its viability is questioned, the cycle must be about to turn around. Unfortunately, we lack such clarity," he wrote.
"After years of running into the wind, we are left with no sense stronger than, 'it will turn when it turns.'"