<p>億萬富翁大衞·艾因霍恩於 11 月出席了 CNBC 的 Delivering Alpha 活動。在與萊斯利·皮克的採訪中，這位對沖基金經理 lamented 了價值投資的衰退。</p>
<p>“‘情況還在繼續惡化，’ 這位對沖基金經理告訴皮克。‘我們正處於專業資產管理行業的長期衰退中，’” CNBC 報道。</p>
<h2>本文的關鍵點：</h2>
<ul>
<li>大衞·艾因霍恩的對沖基金在 2024 年第三季度減少或退出了九個頭寸，醫療保健是第三季度賣出的大部分。</li>
<li>雖然 DME Capital Management 在最新季度購買或增持了 15 只股票，但對投資組合的最顯著變化是 <strong>CNH Industrial</strong>(NYSE:CNH)。</li>
<li>對沖基金在其最大持股 <strong>Green Brick Partners</strong>(NYSE:GRBK) 中增加了近 87 萬股。</li>
<li>放輕鬆，讓股息為你創造財富，抓住 “2 只傳奇高收益股息股票” 的免費副本。</li>
</ul>
<p>艾因霍恩認為市場在根本上是 “破碎的”，暗示被動指數投資導致了成長股的支持，而犧牲了價值股。</p>
<p>他可能説得有道理。</p>
<p>Research Affiliates 的創始人兼主席羅布·阿諾特在 11 月的一封電子郵件中告訴 CNBC，基於基本面，價值股的價格持續走低，而成長股的價格則持續走高。</p>
<p>儘管感到沮喪，艾因霍恩仍通過他的對沖基金 <strong>DME Capital Management</strong> 繼續買賣股票。</p>
<p>在截至 9 月 30 日的第三季度，這位億萬富翁退出了兩隻股票，減少了七隻持股的頭寸，增持了 14 個頭寸，並在第三季度購買了一隻新股票。</p>
<p>以下是艾因霍恩 24 億美元投資組合的主要組成部分。</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>艾因霍恩在本季度減少或出售了四個持股，出售的股票數量超過 30 萬股。</p>
<p>按出售股票數量計算，最大出售是 622,470 股 <strong>ODP Corp.</strong>(NASDAQ:ODP)，這是 Office Depot 和 OfficeMax 零售店及其相關業務的母公司。ODP 是艾因霍恩第 16 大持股。</p>
<p>對沖基金從這筆出售中獲得了 2090 萬美元的收益，基於本季度的最高平均價為 43.31 美元，最低為 23.69 美元。截至 9 月底，它仍持有 160 萬股。</p>
<p>然而，按美元價值計算，最大的出售是對沖基金出售的 310,577 股 <strong>Tenet Healthcare</strong>(NYSE:THC)，這是一家總部位於達拉斯的醫院及其他醫療設施運營商。THC 是艾因霍恩第 15 大持股。</p>
<p>根據本季度的最高價 171.20 美元和最低價 128.49 美元的平均值，對沖基金從這筆出售中獲得了 4650 萬美元的收益。截至 9 月底，它持有 287,100 股。</p>
<p>艾因霍恩在本季度出售的兩隻股票是 <strong>Sotera Health</strong>(NASDAQ:SHC) 和 <strong>Talis Biomedical</strong>(OTCMKTS:TLIS)。這兩家醫療公司分別是第 39 和第 40 大持股。這兩筆出售可能產生了約 500 萬美元的收益，幾乎不算重要。</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)。這是第三大對沖基金持股，佔其 24 億美元資產的 5.58%。</p>
<h2>它進行了一個大買入</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>正如我在引言中所説，艾因霍恩在第三季度購買了一隻新股票：<strong>CNH Industrial</strong>(NYSE:CNH)，這是一家生產 Case 和 New Holland 拖拉機、聯合收割機及其他農業和建築設備的公司。</p>
<p>對沖基金在第三季度收購了 710 萬股 CNH 股票，使其成為第 10 大持股，截至 9 月 30 日估值為 7880 萬美元。佔對沖基金投資組合的 3.37%，預計其平均購買價格為每股 10.19 美元。到 12 月 18 日，股價上漲了約 12%。</p>
<p>分析師對其股票的評價平平。在覆蓋該股票的 22 位分析師中，有 11 位給予買入評級。他們的目標價為 14 美元，遠高於當前交易價格。然而，它的交易價格僅為華爾街 2024 年每股收益 1.54 美元的 7.4 倍。</p>
<h2>其他值得注意的買入</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 大持股中的六個。</p>
<p>對沖基金按市場價值計算的最大持股是 <strong>Green Brick Partners</strong>(NYSE:GRBK)，這是一家德克薩斯州的房屋建築商，他參與了幾十年。艾因霍恩在第三季度增持了 869,110 股。現在佔 DME 資產的 30.93%。</p>
<p>億萬富翁在本季度增持的第二大持股是 <strong>HP</strong>(NYSE:HPQ)，這是一家打印機和個人電腦製造商。在本季度，艾因霍恩購買了 157,860 股，使其持股增至 353 萬股，佔投資組合的 5.43%。</p>
<p>據我所知，DME 按美元價值計算的最大購買是其第七大持股 <strong>Liberty Global</strong>(NASDAQ:LBTYA)。Liberty Global 是一家在美國以外的七個國家（包括愛爾蘭、荷蘭、比利時、盧森堡、斯洛伐克、英國和瑞士）運營的寬帶和無線公司。</p>
<p>對沖基金在第三季度收購了 221 萬股，持股增加了 108.31%，達到 425 萬股，佔其投資組合的 3.85%。艾因霍恩在 2024 年第一季度首次購買了該公司的股票。</p>
<p>根據本季度的最高價 21.56 美元和最低價 17.31 美元，對沖基金可能為其 Liberty 持股的重大增持支付了 4300 萬美元。</p>
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<p>這篇文章的標題是億萬富翁投資者大衞·艾因霍恩從醫療保健轉向農業，進行最新購買，首發於 24/7 Wall St..</p>

<p>億萬富翁投資者大衞·艾因霍恩已將其關注點從醫療保健轉向農業，特別是在 2024 年第三季度收購了 710 萬股 CNH 工業。在接受 CNBC 採訪時，他對價值投資的衰退以及被動指數投資對市場動態的影響表示擔憂。艾因霍恩的對沖基金 DME 資本管理出售了多個醫療保健領域的頭寸，同時增加了其他行業的投資，反映出他投資策略的戰略轉變</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>億萬富翁大衞·艾因霍恩於 11 月出席了 CNBC 的 Delivering Alpha 活動。在與萊斯利·皮克的採訪中，這位對沖基金經理 lamented 了價值投資的衰退。</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>“‘情況還在繼續惡化，’ 這位對沖基金經理告訴皮克。‘我們正處於專業資產管理行業的長期衰退中，’” CNBC 報道。</p>
</div><h2>Key Points About This Article:</h2>
<div class="lb-trans"><h2>本文的關鍵點：</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>大衞·艾因霍恩的對沖基金在 2024 年第三季度減少或退出了九個頭寸，醫療保健是第三季度賣出的大部分。</li>
<li>雖然 DME Capital Management 在最新季度購買或增持了 15 只股票，但對投資組合的最顯著變化是 <strong>CNH Industrial</strong>(NYSE:CNH)。</li>
<li>對沖基金在其最大持股 <strong>Green Brick Partners</strong>(NYSE:GRBK) 中增加了近 87 萬股。</li>
<li>放輕鬆，讓股息為你創造財富，抓住 “2 只傳奇高收益股息股票” 的免費副本。</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>艾因霍恩認為市場在根本上是 “破碎的”，暗示被動指數投資導致了成長股的支持，而犧牲了價值股。</p>
</div><p>He could be on to something.</p>
<div class="lb-trans"><p>他可能説得有道理。</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 的創始人兼主席羅布·阿諾特在 11 月的一封電子郵件中告訴 CNBC，基於基本面，價值股的價格持續走低，而成長股的價格則持續走高。</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>儘管感到沮喪，艾因霍恩仍通過他的對沖基金 <strong>DME Capital Management</strong> 繼續買賣股票。</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，這位億萬富翁退出了兩隻股票，減少了七隻持股的頭寸，增持了 14 個頭寸，並在第三季度購買了一隻新股票。</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 億美元投資組合的主要組成部分。</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>艾因霍恩在本季度減少或出售了四個持股，出售的股票數量超過 30 萬股。</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>按出售股票數量計算，最大出售是 622,470 股 <strong>ODP Corp.</strong>(NASDAQ:ODP)，這是 Office Depot 和 OfficeMax 零售店及其相關業務的母公司。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>對沖基金從這筆出售中獲得了 2090 萬美元的收益，基於本季度的最高平均價為 43.31 美元，最低為 23.69 美元。截至 9 月底，它仍持有 160 萬股。</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，按美元價值計算，最大的出售是對沖基金出售的 310,577 股 <strong>Tenet Healthcare</strong>(NYSE:THC)，這是一家總部位於達拉斯的醫院及其他醫療設施運營商。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>根據本季度的最高價 171.20 美元和最低價 128.49 美元的平均值，對沖基金從這筆出售中獲得了 4650 萬美元的收益。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兩隻股票是 <strong>Sotera Health</strong>(NASDAQ:SHC) 和 <strong>Talis Biomedical</strong>(OTCMKTS:TLIS)。這兩家醫療公司分別是第 39 和第 40 大持股。這兩筆出售可能產生了約 500 萬美元的收益，幾乎不算重要。</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)。這是第三大對沖基金持股，佔其 24 億美元資產的 5.58%。</p>
</div><h2>It Made One Big Buy</h2>
<div class="lb-trans"><h2>它進行了一個大買入</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>正如我在引言中所説，艾因霍恩在第三季度購買了一隻新股票：<strong>CNH Industrial</strong>(NYSE:CNH)，這是一家生產 Case 和 New Holland 拖拉機、聯合收割機及其他農業和建築設備的公司。</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>對沖基金在第三季度收購了 710 萬股 CNH 股票，使其成為第 10 大持股，截至 9 月 30 日估值為 7880 萬美元。佔對沖基金投資組合的 3.37%，預計其平均購買價格為每股 10.19 美元。到 12 月 18 日，股價上漲了約 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>分析師對其股票的評價平平。在覆蓋該股票的 22 位分析師中，有 11 位給予買入評級。他們的目標價為 14 美元，遠高於當前交易價格。然而，它的交易價格僅為華爾街 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>其他值得注意的買入</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 大持股中的六個。</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>對沖基金按市場價值計算的最大持股是 <strong>Green Brick Partners</strong>(NYSE:GRBK)，這是一家德克薩斯州的房屋建築商，他參與了幾十年。艾因霍恩在第三季度增持了 869,110 股。現在佔 DME 資產的 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>億萬富翁在本季度增持的第二大持股是 <strong>HP</strong>(NYSE:HPQ)，這是一家打印機和個人電腦製造商。在本季度，艾因霍恩購買了 157,860 股，使其持股增至 353 萬股，佔投資組合的 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>據我所知，DME 按美元價值計算的最大購買是其第七大持股 <strong>Liberty Global</strong>(NASDAQ:LBTYA)。Liberty Global 是一家在美國以外的七個國家（包括愛爾蘭、荷蘭、比利時、盧森堡、斯洛伐克、英國和瑞士）運營的寬帶和無線公司。</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>對沖基金在第三季度收購了 221 萬股，持股增加了 108.31%，達到 425 萬股，佔其投資組合的 3.85%。艾因霍恩在 2024 年第一季度首次購買了該公司的股票。</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>根據本季度的最高價 21.56 美元和最低價 17.31 美元，對沖基金可能為其 Liberty 持股的重大增持支付了 4300 萬美元。</p>
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<div class="lb-trans"><h2><strong>想要提前退休？從這裏開始（贊助商）</strong></h2>
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<div class="lb-trans"><p>想要退休比你計劃的提前幾年？或者你現在準備退休，但希望對你的財務狀況有額外的關注？</p>
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<div class="lb-trans"><p>對退休或個人財務有疑問嗎？ <strong>請通過電子郵件聯繫我們，郵箱是 Retire@247wallst.com！</strong></p>
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<div class="lb-trans"><p><em>通過向 24/7 Wall St. 發送您的問題，您同意將其匿名發佈在 247wallst.com 上。</em></p>
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<div class="lb-trans"><p><em>通過提交您的故事，您理解並同意我們可以在所有媒體和平台上使用您的故事或其版本，包括通過第三方。</em></p>
</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>這篇文章的標題是億萬富翁投資者大衞·艾因霍恩從醫療保健轉向農業，進行最新購買，首發於 24/7 Wall St..</p>
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億萬富翁投資者大衞·艾因霍恩最新收購，從醫療保健轉向農業