Username:   Remember Me
Password:  

Uber Articles {Über (ger) adj. above, beyond }

- Above and Beyond a Mere Article Directory

 
 

Good News For The Grandchildren?

By Greg Matthews

“Good News for the Grandchildren” was the title of the David Einhorn’s lecture on Wednesday in the Ira Sohn Conference at New York. I was present there.

“Do you believe you are concerned that we are passing our debt on to upcoming generations?” Einhorn started out…

“Anyhow you need not worry. Our generation – not our grandchildren’s – have to deal with the consequences.”

Einhorn’s investment success have made his hedge-fund prospects wealthy. He’s earned them over 20% for every year compounded, after charges.

Einhorn famously revealed that Allied Capital was defrauding the government. He wrote a good book about his six-year battle with Allied, called Fooling Some of the People All of the Time. All value traders should read it. (He first publicly declared Allied was defrauding the government at the 2002 Ira Sohn Seminar.)

Einhorn also “nearly made it to the final table” at the World Series of Poker major event in 2006. He donated his $659,730 reward money from that event for the Michael J. Fox foundation for Parkinson’s Research.

And then in spring of 2008, Einhorn publicly predicted the downfall of the Lehman Brothers.

Hence he is intelligent, a winning investor, also a superb guy. He’s worth listening to.

Einhorn believes the United States might experience a Greece-type debt circumstances much earlier than anyone thinks (in our generation, not our grandkids). He mentioned civil servant salary as an case of the U.S. problem in making just like Greece…

Einhorn explained how in 2008, the common U.S. federal civilian wage along with reimbursement was $119,982, in comparison with $59,909 for the non-government worker. Furthermore in case you have government employment, you could remain utilized for 20 years afterward that you can retire, receiving retirement remuneration the remainder of your life (the following forty years). Einhorn questioned the sustainability of these entitlements.

Einhorn was not the only real spokesman at the seminar… His hedge-fund-manager peers exchanged their valuable ideas also. A large amount speakers at the seminar held the same view to David’s.

The optimistic take was essentially, “Everyone is adaptive… We’ll work out find out how to adapt to these times, as a consequence generate profits from them. There’s never been a catastrophe that you cannot see coming. If you’re able to see it coming, in which case you can adapt.”

To invest in this difficult time, David thought to own gold as well as gold stocks… and worry regarding your grandkids afterward.

Like he believed, “When push comes to shove, there is a good chance the Fed will print currency to the point where significant inflation shows up.

Gold Market Monitor is a specialized newsletter for timing the Gold Market that shows its members the best time to invest in gold bullion and when to exit to the safety of cash.Start your 60-day trial to the Gold Market Monitor which uses an exclusive gold timing strategy to help its members safely profit from underlying trends in the gold market.

Article kindly provided by UberArticles.com

Topics: Investments | Comments Off

Tags: , , , , , , ,


Article Citation
MLA Style Citation:
Matthews, Greg "Good News For The Grandchildren?." Good News For The Grandchildren?. 26 Jun. 2010. uberarticles.com. 28 Dec 2014 <http://uberarticles.com/finance/investments/good-news-for-the-grandchildren/>.

APA Style Citation:
Matthews, G (2010, June 26). Good News For The Grandchildren?. Retrieved December 28, 2014, from http://uberarticles.com/finance/investments/good-news-for-the-grandchildren/

Chicago Style Citation:
Matthews, Greg "Good News For The Grandchildren?" uberarticles.com. http://uberarticles.com/finance/investments/good-news-for-the-grandchildren/


Reprint Rights

Creative Commons License
This article is subject to a revocable license under a Creative Commons Attribution-No Derivative Works 3.0 Unported License, which means you may freely reprint it, in its entirety, provided you include the author's resource box along with LIVE VISIBLE links (without "nofollow" tags). We may revoke the license at any time with or without cause. You must also include the credit to UberArticles.com.

Comments are closed.

Disclaimer
Uber Articles and its partner sites cannot be held responsible for either the content nor the originality of any articles. If you believe the article has been stolen from you without your permission, please contact us and we will remove it immediately. If you have a problem with the accuracy or otherwise of the content of an article, please contact the author, not us! Also, please remember that any opinions and ideas presented in any of the articles are those of the author and cannot be taken to represent the opinions of Uber Articles. All articles are provided for informational purposes only. None of them should be relied upon for medical, psychological, financial, legal, or other professional advice. If you need professional advice, see a professional. We cannot be held responsible for any use or misuse you make of the articles, nor can we be held responsible for any claims for earnings, cures, or other results that the article might make.
  • RSS Feed

    RSS for Investments




  • Plugin UAW into your sites and start receiving fresh, unique and niche relevant content today and everyday!