<p>亿万富翁大卫·艾因霍恩于 11 月出席了 CNBC 的 Delivering Alpha 活动。在与莱斯利·皮克的采访中，这位对冲基金经理 lamented 了价值投资的衰退。</p>
<p>“‘情况还在继续恶化，’ 这位对冲基金经理告诉皮克。‘我们正处于专业资产管理行业的长期衰退中，’” CNBC 报道。</p>
<h2>本文的关键点：</h2>
<ul>
<li>大卫·艾因霍恩的对冲基金在 2024 年第三季度减少或退出了九个头寸，医疗保健是第三季度卖出的大部分。</li>
<li>虽然 DME Capital Management 在最新季度购买或增持了 15 只股票，但对投资组合的最显著变化是 <strong>CNH Industrial</strong>(NYSE:CNH)。</li>
<li>对冲基金在其最大持股 <strong>Green Brick Partners</strong>(NYSE:GRBK) 中增加了近 87 万股。</li>
<li>放轻松，让股息为你创造财富，抓住 “2 只传奇高收益股息股票” 的免费副本。</li>
</ul>
<p>艾因霍恩认为市场在根本上是 “破碎的”，暗示被动指数投资导致了成长股的支持，而牺牲了价值股。</p>
<p>他可能说得有道理。</p>
<p>Research Affiliates 的创始人兼主席罗布·阿诺特在 11 月的一封电子邮件中告诉 CNBC，基于基本面，价值股的价格持续走低，而成长股的价格则持续走高。</p>
<p>尽管感到沮丧，艾因霍恩仍通过他的对冲基金 <strong>DME Capital Management</strong> 继续买卖股票。</p>
<p>在截至 9 月 30 日的第三季度，这位亿万富翁退出了两只股票，减少了七只持股的头寸，增持了 14 个头寸，并在第三季度购买了一只新股票。</p>
<p>以下是艾因霍恩 24 亿美元投资组合的主要组成部分。</p>
<h2>2024 年第三季度五大股票出售</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/03/shutterstock-1959570262-huge-licensed-scaled.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/03/shutterstock-1959570262-huge-licensed-scaled.jpg"/></p>
<p>艾因霍恩在本季度减少或出售了四个持股，出售的股票数量超过 30 万股。</p>
<p>按出售股票数量计算，最大出售是 622,470 股 <strong>ODP Corp.</strong>(NASDAQ:ODP)，这是 Office Depot 和 OfficeMax 零售店及其相关业务的母公司。ODP 是艾因霍恩第 16 大持股。</p>
<p>对冲基金从这笔出售中获得了 2090 万美元的收益，基于本季度的最高平均价为 43.31 美元，最低为 23.69 美元。截至 9 月底，它仍持有 160 万股。</p>
<p>然而，按美元价值计算，最大的出售是对冲基金出售的 310,577 股 <strong>Tenet Healthcare</strong>(NYSE:THC)，这是一家总部位于达拉斯的医院及其他医疗设施运营商。THC 是艾因霍恩第 15 大持股。</p>
<p>根据本季度的最高价 171.20 美元和最低价 128.49 美元的平均值，对冲基金从这笔出售中获得了 4650 万美元的收益。截至 9 月底，它持有 287,100 股。</p>
<p>艾因霍恩在本季度出售的两只股票是 <strong>Sotera Health</strong>(NASDAQ:SHC) 和 <strong>Talis Biomedical</strong>(OTCMKTS:TLIS)。这两家医疗公司分别是第 39 和第 40 大持股。这两笔出售可能产生了约 500 万美元的收益，几乎不算重要。</p>
<p>在最大的持股中，艾因霍恩在本季度出售了 80,982 股 <strong>Brighthouse Financial</strong>(NYSE:BHF)。这是第三大对冲基金持股，占其 24 亿美元资产的 5.58%。</p>
<h2>它进行了一个大买入</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2021/08/imageForEntry40-tD2.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2021/08/imageForEntry40-tD2.jpg"/></p>
<p>正如我在引言中所说，艾因霍恩在第三季度购买了一只新股票：<strong>CNH Industrial</strong>(NYSE:CNH)，这是一家生产 Case 和 New Holland 拖拉机、联合收割机及其他农业和建筑设备的公司。</p>
<p>对冲基金在第三季度收购了 710 万股 CNH 股票，使其成为第 10 大持股，截至 9 月 30 日估值为 7880 万美元。占对冲基金投资组合的 3.37%，预计其平均购买价格为每股 10.19 美元。到 12 月 18 日，股价上涨了约 12%。</p>
<p>分析师对其股票的评价平平。在覆盖该股票的 22 位分析师中，有 11 位给予买入评级。他们的目标价为 14 美元，远高于当前交易价格。然而，它的交易价格仅为华尔街 2024 年每股收益 1.54 美元的 7.4 倍。</p>
<h2>其他值得注意的买入</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/03/imageForEntry8-v7o.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/03/imageForEntry8-v7o.jpg"/></p>
<p>艾因霍恩在第三季度增持了他前 10 大持股中的六个。</p>
<p>对冲基金按市场价值计算的最大持股是 <strong>Green Brick Partners</strong>(NYSE:GRBK)，这是一家德克萨斯州的房屋建筑商，他参与了几十年。艾因霍恩在第三季度增持了 869,110 股。现在占 DME 资产的 30.93%。</p>
<p>亿万富翁在本季度增持的第二大持股是 <strong>HP</strong>(NYSE:HPQ)，这是一家打印机和个人电脑制造商。在本季度，艾因霍恩购买了 157,860 股，使其持股增至 353 万股，占投资组合的 5.43%。</p>
<p>据我所知，DME 按美元价值计算的最大购买是其第七大持股 <strong>Liberty Global</strong>(NASDAQ:LBTYA)。Liberty Global 是一家在美国以外的七个国家（包括爱尔兰、荷兰、比利时、卢森堡、斯洛伐克、英国和瑞士）运营的宽带和无线公司。</p>
<p>对冲基金在第三季度收购了 221 万股，持股增加了 108.31%，达到 425 万股，占其投资组合的 3.85%。艾因霍恩在 2024 年第一季度首次购买了该公司的股票。</p>
<p>根据本季度的最高价 21.56 美元和最低价 17.31 美元，对冲基金可能为其 Liberty 持股的重大增持支付了 4300 万美元。</p>
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<p>这篇文章的标题是亿万富翁投资者大卫·艾因霍恩从医疗保健转向农业，进行最新购买，首发于 24/7 Wall St..</p>

<p>亿万富翁投资者大卫·艾因霍恩已将其关注点从医疗保健转向农业，特别是在 2024 年第三季度收购了 710 万股 CNH 工业。在接受 CNBC 采访时，他对价值投资的衰退以及被动指数投资对市场动态的影响表示担忧。艾因霍恩的对冲基金 DME 资本管理出售了多个医疗保健领域的头寸，同时增加了其他行业的投资，反映出他投资策略的战略转变</p>

<p>Billionaire David Einhorn appeared at CNBC’s Delivering Alpha event in November. In his interview with Leslie Picker, the hedge fund manager lamented the downfall of value investing.</p>
<div class="lb-trans"><p>亿万富翁大卫·艾因霍恩于 11 月出席了 CNBC 的 Delivering Alpha 活动。在与莱斯利·皮克的采访中，这位对冲基金经理 lamented 了价值投资的衰退。</p>
</div><p>“‘It’s continuing to get worse,’ the hedge fund manager told Picker. ‘We are in a secular destruction of the professional asset management community,’” CNBC reported.</p>
<div class="lb-trans"><p>“‘情况还在继续恶化，’ 这位对冲基金经理告诉皮克。‘我们正处于专业资产管理行业的长期衰退中，’” CNBC 报道。</p>
</div><h2>Key Points About This Article:</h2>
<div class="lb-trans"><h2>本文的关键点：</h2>
</div><ul>
<li>David Einhorn’s hedge fund sold down or out of nine positions during Q3 2024, with healthcare a big part of the selling during the third quarter.</li>
<li>While DME Capital Management bought or added to 15 stocks in the latest quarter, the most significant change to the portfolio was <strong>CNH Industrial</strong>(NYSE:CNH).</li>
<li>The hedge fund added nearly 870,000 shares to its most significant holding of <strong>Green Brick Partners</strong>(NYSE:GRBK).</li>
<li>Sit back and let dividends do the heavy lifting for a simple, steady path to serious wealth creation over time. Grab a free copy of “2 Legendary High-Yield Dividend Stocks” now.</li>
</ul>
<div class="lb-trans"><ul>
<li>大卫·艾因霍恩的对冲基金在 2024 年第三季度减少或退出了九个头寸，医疗保健是第三季度卖出的大部分。</li>
<li>虽然 DME Capital Management 在最新季度购买或增持了 15 只股票，但对投资组合的最显著变化是 <strong>CNH Industrial</strong>(NYSE:CNH)。</li>
<li>对冲基金在其最大持股 <strong>Green Brick Partners</strong>(NYSE:GRBK) 中增加了近 87 万股。</li>
<li>放轻松，让股息为你创造财富，抓住 “2 只传奇高收益股息股票” 的免费副本。</li>
</ul>
</div><p>Einhorn believes that the markets are fundamentally “broken,” suggesting that passive index investing is to blame for supporting growth stocks at the expense of value stocks.</p>
<div class="lb-trans"><p>艾因霍恩认为市场在根本上是 “破碎的”，暗示被动指数投资导致了成长股的支持，而牺牲了价值股。</p>
</div><p>He could be on to something.</p>
<div class="lb-trans"><p>他可能说得有道理。</p>
</div><p>Research Affiliates founder and chairman Rob Arnott told CNBC in a November email that, based on fundamentals, value stocks just keep getting cheaper while growth stocks keep getting more expensive.</p>
<div class="lb-trans"><p>Research Affiliates 的创始人兼主席罗布·阿诺特在 11 月的一封电子邮件中告诉 CNBC，基于基本面，价值股的价格持续走低，而成长股的价格则持续走高。</p>
</div><p>Despite the frustration, Einhorn continues to buy and sell stocks through his hedge fund, <strong>DME Capital Management</strong>.</p>
<div class="lb-trans"><p>尽管感到沮丧，艾因霍恩仍通过他的对冲基金 <strong>DME Capital Management</strong> 继续买卖股票。</p>
</div><p>In the third quarter ended Sept. 30, the billionaire sold out of two stocks, reduced the positions of seven of his holdings, added to 14 positions, and bought one new stock during the third quarter.</p>
<div class="lb-trans"><p>在截至 9 月 30 日的第三季度，这位亿万富翁退出了两只股票，减少了七只持股的头寸，增持了 14 个头寸，并在第三季度购买了一只新股票。</p>
</div><p>Here are the main pieces to Einhorn’s $2.4 billion investment portfolio.</p>
<div class="lb-trans"><p>以下是艾因霍恩 24 亿美元投资组合的主要组成部分。</p>
</div><h2>Five Big Share Sales During Q3 2024</h2>
<div class="lb-trans"><h2>2024 年第三季度五大股票出售</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/03/shutterstock-1959570262-huge-licensed-scaled.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2024/03/shutterstock-1959570262-huge-licensed-scaled.jpg"/></p>
<p>Einhorn reduced or sold out of four holdings during the quarter with share sales of 300,000 or more.</p>
<div class="lb-trans"><p>艾因霍恩在本季度减少或出售了四个持股，出售的股票数量超过 30 万股。</p>
</div><p>The biggest sale in terms of shares sold was 622,470 of <strong>ODP Corp.</strong>(NASDAQ:ODP), the parent company of Office Depot and OfficeMax retail stores, and the various related businesses attached. ODP is Einhorn’s 16th-largest holding.</p>
<div class="lb-trans"><p>按出售股票数量计算，最大出售是 622,470 股 <strong>ODP Corp.</strong>(NASDAQ:ODP)，这是 Office Depot 和 OfficeMax 零售店及其相关业务的母公司。ODP 是艾因霍恩第 16 大持股。</p>
</div><p>The hedge fund generated $20.9 million in proceeds from the sale, based on an average high of $43.31 and a low of $23.69 during the quarter. At the end of September, it still held 1.6 million shares.</p>
<div class="lb-trans"><p>对冲基金从这笔出售中获得了 2090 万美元的收益，基于本季度的最高平均价为 43.31 美元，最低为 23.69 美元。截至 9 月底，它仍持有 160 万股。</p>
</div><p>However, the biggest sale by dollar value was the hedge fund’s sale of 310,577 shares of <strong>Tenet Healthcare</strong>(NYSE:THC), the Dallas-based operator of hospitals and other healthcare facilities. THC is Einhorn’s 15th-largest holding.</p>
<div class="lb-trans"><p>然而，按美元价值计算，最大的出售是对冲基金出售的 310,577 股 <strong>Tenet Healthcare</strong>(NYSE:THC)，这是一家总部位于达拉斯的医院及其他医疗设施运营商。THC 是艾因霍恩第 15 大持股。</p>
</div><p>Based on the average of a high of $171.20 and a low of $128.49 during the quarter, the hedge fund generated $46.5 million in proceeds from the sale. It held 287,100 shares at the end of September.</p>
<div class="lb-trans"><p>根据本季度的最高价 171.20 美元和最低价 128.49 美元的平均值，对冲基金从这笔出售中获得了 4650 万美元的收益。截至 9 月底，它持有 287,100 股。</p>
</div><p>The two stocks Einhorn sold out of in the quarter were <strong>Sotera Health</strong>(NASDAQ:SHC) and <strong>Talis Biomedical</strong>(OTCMKTS:TLIS). The two healthcare companies were in the 39th and 40th-largest positions, respectively. The two closeouts likely generated around $5 million in proceeds. Hardly material.</p>
<div class="lb-trans"><p>艾因霍恩在本季度出售的两只股票是 <strong>Sotera Health</strong>(NASDAQ:SHC) 和 <strong>Talis Biomedical</strong>(OTCMKTS:TLIS)。这两家医疗公司分别是第 39 和第 40 大持股。这两笔出售可能产生了约 500 万美元的收益，几乎不算重要。</p>
</div><p>Of the largest holdings, Einhorn sold 80,982 shares of <strong>Brighthouse Financial</strong>(NYSE:BHF) during the quarter. It is the third-largest hedge fund holding, accounting for 5.58% of its $2.4 billion in assets.</p>
<div class="lb-trans"><p>在最大的持股中，艾因霍恩在本季度出售了 80,982 股 <strong>Brighthouse Financial</strong>(NYSE:BHF)。这是第三大对冲基金持股，占其 24 亿美元资产的 5.58%。</p>
</div><h2>It Made One Big Buy</h2>
<div class="lb-trans"><h2>它进行了一个大买入</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2021/08/imageForEntry40-tD2.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2021/08/imageForEntry40-tD2.jpg"/></p>
<p>As I said in the introduction, Einhorn bought one new stock in the third quarter: <strong>CNH Industrial</strong>(NYSE:CNH), the maker of Case and New Holland tractors, combines, and other agricultural and construction equipment.</p>
<div class="lb-trans"><p>正如我在引言中所说，艾因霍恩在第三季度购买了一只新股票：<strong>CNH Industrial</strong>(NYSE:CNH)，这是一家生产 Case 和 New Holland 拖拉机、联合收割机及其他农业和建筑设备的公司。</p>
</div><p>The hedge fund acquired 7.1 million shares of CNH stock in the third quarter, making it the 10th-largest position, valued at $78.8 million as of Sept. 30. Accounting for 3.37% of the hedge fund’s portfolio, it is estimated to have paid an average price of $10.19 a share. Through Dec. 18, the shares were up around 12%.</p>
<div class="lb-trans"><p>对冲基金在第三季度收购了 710 万股 CNH 股票，使其成为第 10 大持股，截至 9 月 30 日估值为 7880 万美元。占对冲基金投资组合的 3.37%，预计其平均购买价格为每股 10.19 美元。到 12 月 18 日，股价上涨了约 12%。</p>
</div><p>Analysts are lukewarm about its stock. Of the 22 analysts who cover it, 11 rate it a Buy. Their target price of $14 is well above where it’s currently trading. However, it trades at an incredibly low 7.4x Wall Street’s 2024 EPS estimate of $1.54.</p>
<div class="lb-trans"><p>分析师对其股票的评价平平。在覆盖该股票的 22 位分析师中，有 11 位给予买入评级。他们的目标价为 14 美元，远高于当前交易价格。然而，它的交易价格仅为华尔街 2024 年每股收益 1.54 美元的 7.4 倍。</p>
</div><h2>Other Noteworthy Buys</h2>
<div class="lb-trans"><h2>其他值得注意的买入</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/03/imageForEntry8-v7o.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2022/03/imageForEntry8-v7o.jpg"/></p>
<p>Einhorn added to six of his top 10 holdings in the third quarter.</p>
<div class="lb-trans"><p>艾因霍恩在第三季度增持了他前 10 大持股中的六个。</p>
</div><p>The hedge fund’s largest position in terms of market value is <strong>Green Brick Partners</strong>(NYSE:GRBK), the Texas homebuilder he’s been a part of for decades. Einhorn added 869,110 shares in the third quarter. It now accounts for 30.93% of DME’s assets.</p>
<div class="lb-trans"><p>对冲基金按市场价值计算的最大持股是 <strong>Green Brick Partners</strong>(NYSE:GRBK)，这是一家德克萨斯州的房屋建筑商，他参与了几十年。艾因霍恩在第三季度增持了 869,110 股。现在占 DME 资产的 30.93%。</p>
</div><p>The next most significant position the billionaire added to in the quarter is <strong>HP</strong>(NYSE:HPQ), a maker of printers and PCs. In the quarter, Einhorn bought 157,860 shares, bringing its stake to 3.53 million, or 5.43% of the portfolio.</p>
<div class="lb-trans"><p>亿万富翁在本季度增持的第二大持股是 <strong>HP</strong>(NYSE:HPQ)，这是一家打印机和个人电脑制造商。在本季度，艾因霍恩购买了 157,860 股，使其持股增至 353 万股，占投资组合的 5.43%。</p>
</div><p>As far as I can tell, DME’s largest purchase by dollar value was for its seventh-largest holding, <strong>Liberty Global</strong>(NASDAQ:LBTYA). Liberty Global is a broadband and wireless company operating in seven countries outside the U.S., including Ireland, the Netherlands, Belgium, Luxembourg, Slovakia, the U.K., and Switzerland.</p>
<div class="lb-trans"><p>据我所知，DME 按美元价值计算的最大购买是其第七大持股 <strong>Liberty Global</strong>(NASDAQ:LBTYA)。Liberty Global 是一家在美国以外的七个国家（包括爱尔兰、荷兰、比利时、卢森堡、斯洛伐克、英国和瑞士）运营的宽带和无线公司。</p>
</div><p>The hedge fund acquired 2.21 million shares during the third quarter, increasing its holdings by 108.31% to 4.25 million, accounting for 3.85% of its portfolio. Einhorn first bought shares in the company in Q1 2024.</p>
<div class="lb-trans"><p>对冲基金在第三季度收购了 221 万股，持股增加了 108.31%，达到 425 万股，占其投资组合的 3.85%。艾因霍恩在 2024 年第一季度首次购买了该公司的股票。</p>
</div><p>Based on the high of $21.56 and low of $17.31 during the quarter, the hedge fund likely paid $43 million for the significant addition to its Liberty holdings.</p>
<div class="lb-trans"><p>根据本季度的最高价 21.56 美元和最低价 17.31 美元，对冲基金可能为其 Liberty 持股的重大增持支付了 4300 万美元。</p>
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</div><p>The post Billionaire Investor David Einhorn Pivots From Healthcare to Agriculture With Latest Buy appeared first on 24/7 Wall St..</p>
<div class="lb-trans"><p>这篇文章的标题是亿万富翁投资者大卫·艾因霍恩从医疗保健转向农业，进行最新购买，首发于 24/7 Wall St..</p>
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亿万富翁投资者大卫·艾因霍恩最新收购，从医疗保健转向农业