David Einhorn says regulators are falling asleep in the pulse of Wall Street and that market irregularities are increasingly being ignored.
The head of Greenlight Capital Management wrote in a quarterly letter Thursday: “From a traditional standpoint, the market is cracking and may be in the process of completely breaking down.
Einhorn says that small investors are being lured into buying risky assets, accusing regulators of “who are supposed to be protecting investors” of being “absent or absent.” incurious”.
Those who “never support the vandalism that the police have supported – and for all successful intentions and purposes – almost completely, if not destructive, management, ”wrote the hedge fund investor.
Einhorn chose Tesla Inc.
CEO Elon Musk and wealthy investor Chamath Palihapitiya for exacerbating some recent turmoil in the market, including Palihapitiya’s comment about GameStop Corp.
Einhorn says that the short-term tightening has increased retail business expectations by fuel.
“Finally, we note that jet fuel is real on [GameStop] Einhorn wrote:
For the most part, he writes:
”[Q]Anarchy seems to dominate the market. ”
Einhorn’s quarterly letter also revealed the lackluster performance of the chief investment officer, who saw a 0.1% drop in the first three months of the year, even at the standard S&P 500.
recorded an increase of about 6% and the Dow Jones industrial average
and Nasdaq Composite Index
also recorded solid profits.