David Einhorn on the future of value investing

• Greenlight Capital founder David Einhorn highlights “extraordinary” opportunity despite disappointing returns in value last decade
• Explains how meme-stock craze in early 2021 changed his approach to short-selling
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The rise of passive investing and zero interest rates during the last decade caused “irreparable damage” to value investment, according to Greenlight Capital founder David Einhorn.

Speaking at the London Value Investor Conference this month, the US hedge fund manager said an “extraordinary” opportunity remained despite those challenges, but a new approach was needed.