David Einhorn Speech at Value Investing Congress: Superb!

Rolfe Winkler Blog: Commentary and Links to pdf of speech

Text of Einhorn's speech – Must Read!

And I decide holding gold is better than holding cash, especially now, where both earn no yield.

The financial reform on the table is analogous to our response to airline terrorism by frisking grandma and taking away everyone’s shampoo, in that it gives the appearance of officially “doing something” and adds to our bureaucracy without really making anything safer.

With the ensuing government bailout, we have now institutionalized the idea of too- big-to-fail and insulated investors from risk.

Great quotes from this guy.  You must read this.

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