Seeking Alpha

Einhorn exits GM, buys into Nokia

  • David Einhorn's Greenlight Capital, a GM investor since 2011, unloaded its position in the auto giant (nearly 17M shares at the end of Q4) in Q1. (13F)
  • In addition, Warren Buffett's Berkshire Hathaway cut its GM stake by 10M shares to 30M. (13F)
  • While Einhorn sold GM, he bought into Nokia (NOK), establishing a 3.5M-share position ahead of the closing of the sale of its phone unit to Microsoft. Einhorn also started a 1.2M-share position in chip equipment maker Lam Research (LRCX).
  • Dan Loeb's Third Point LLC, which first bought into Nokia in Q3 last year, maintained a 4.5M-share position in Q1. (13F)
  • Einhorn wasn't kidding last month when he said he has added to the SunEdison (SUNE) position. Greenlight owned 11.8M shares of the solar project developer at the end of Q1, up from just 1.3M at the end of Q4 and good for a 4%+ stake.
Comments (30)
  • sidiji
    , contributor
    Comments (144) | Send Message
     
    You missed the new position taken by Soros. You also missed the 3 major upgrades by the big 3 credit agencies...
    15 May, 06:26 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    I missed the new position taken by Soros.

     

    Here is a list of new institutional positions:
    http://bit.ly/RStN7H

     

    Even with the new position, only 11% of Nokia is institutionally held.
    16 May, 12:15 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (7802) | Send Message
     
    I am missing upside potential since last October.
    16 May, 01:27 AM Reply Like
  • Seriouspatt
    , contributor
    Comments (142) | Send Message
     
    NOK's stock price technically is in a triangle. Something should be happen within forseeable time. I agree - there's a lack of action.
    16 May, 06:18 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    It's consolidating for sure.
    17 May, 05:08 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (7802) | Send Message
     
    That's a new way to put it.
    17 May, 05:17 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    That's an old way. price gets narrower and narrower until support and resistance are almost touching. Can't last forever.
    17 May, 05:32 PM Reply Like
  • La Rue
    , contributor
    Comments (670) | Send Message
     
    Thanks David for your belief in Nokia !
    15 May, 06:28 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    La

     

    They don't have a "belief in Nokia."

     

    They have a "calculated risk."

     

    It's not an emotional game for them.
    16 May, 12:12 AM Reply Like
  • funfun
    , contributor
    Comments (2014) | Send Message
     
    Much of the smarter money is fleeing from the shares of this ethically broken-down car maker, mired in mediocrity. That's a definite heads-up for regular individual investors. …funfun..
    15 May, 07:24 PM Reply Like
  • funfun
    , contributor
    Comments (2014) | Send Message
     
    The smartest investor of them all, the Oracle of Omaha, is fleeing the declining shares of this fraud-infested motorcar company in the first quarter. In the meantime there is a crescendo of "BUY, BUY, BUY" screeched from PR operatives and GM Management proponents and protectors patrolling the internet. Telling, indeed. ...funfun..
    15 May, 07:54 PM Reply Like
  • uwegrobecker
    , contributor
    Comments (6) | Send Message
     
    There are over 100k May Calls at 8 dllr strike expiring worthless this month ! Ouch !
    Why is NOK trading in a downward channel and with such low volume since the takeover from MSFT ?? Any ideas why ?
    15 May, 07:56 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (7802) | Send Message
     
    Storytelling potential depleted. Consumer market exited. Sector out of fashion.

     

    All three tradeable TI vendors are now considered boring stocks, at the mercy of operator spending, which is seen as remaining conservative, with Huawei and ZTE breathing down their neck. Until the TI vendor consolidation circus opens its gates, the sector is in limbo.

     

    Do not forget that also volume is declining in all markets with growth stocks already ever sinking; some take it as the surefire sign of an imminent crash.
    16 May, 01:34 AM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    AH

     

    Hey, can you post a link to the declining volume statement. Short look at some indexes in the US shows about average volume.
    16 May, 02:45 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (7802) | Send Message
     
    http://on.mktw.net/RIInof
    16 May, 03:13 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (7802) | Send Message
     
    http://bit.ly/1gbrGx7 boring is the new exciting : )

     

    Meanwhile, I shall re-purchase more "French communist Paris cronie's tech laggard stock" on Monday pre-market. This is fun!
    16 May, 05:02 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    Just watch this. When it breaks it's 200 a couple of times in a year and the 200MA starts to level off, watch out.
    http://bit.ly/1nUUL2r
    17 May, 05:14 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (7802) | Send Message
     
    Invest in Uganda. The turnip price is rigged. NASDAQ 10.000 by the end of the year. McDonald's could take over Burger King. Unobtanium mines in Antarctica raise output. Hallelujah!
    17 May, 05:22 PM Reply Like
  • Dr Joseph Haluska
    , contributor
    Comments (285) | Send Message
     
    Interesting to put the pieces together.....genius!
    15 May, 09:54 PM Reply Like
  • sheldond
    , contributor
    Comments (1018) | Send Message
     
    GM isa loss.....I never liked it preferred Ford.

     

    As to Nokia, I backed up the truck at 2.30 and have been DAC since. Check back in 20 years. Welcome David.....good choice.

     

    Is it time to short GM....

     

    D
    15 May, 10:33 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    shel

     

    LOL "Check back in 20 years." That reminds me of a movie where one could put themselves in deep "cryo" sleep for decades. So, this poor guy puts his entire inheritance into some safe indexes etc, a sure pittance, and freezes himself for 300 years. Wakes up and the market is socialized and there isn't even money anymore. lol
    16 May, 02:49 PM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    Here is my modest contribution to this discussion:

     

    Repeat my switch reco of last month, published in this space + else where:

     

    >>> Sell GM (recent price $35) buy SDRL (recent price $35.48) which has more than 3X GM's yield - 10.9%. SDRL is the alpha dog of the deep water drillers + has its problems but they pale in comparison with GM's. It is also entirely scandal free.
    PS
    At the time of my original reco GM was priced at a premium above SDRL.
    15 May, 11:38 PM Reply Like
  • BeijingBull
    , contributor
    Comments (18) | Send Message
     
    Best bet looks like Modi's election in India will be a positive influence for Nokia and its tax issues. What do the rest of you think?
    16 May, 11:32 AM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (1866) | Send Message
     
    Agreed. We might see a political solution to the tax issue, and in the long term more sensible legislation in India.
    16 May, 11:38 AM Reply Like
  • La Rue
    , contributor
    Comments (670) | Send Message
     
    I agree with you but I wonder how long it will take ? It will continue to have a negative impact on the sp until it is resolved.
    16 May, 11:40 AM Reply Like
  • ted lujan
    , contributor
    Comments (510) | Send Message
     
    Is GM a sinking ship? Time to find a better residence; NOK may be a better.
    16 May, 12:22 PM Reply Like
  • Mking30
    , contributor
    Comments (139) | Send Message
     
    Ha! U just entered the Twilight Zone, love to hate,this may take awhile,but then one day it may just heat that frozen ice and be reborn a momo shooting star, still buying lock and step with 401k, look past the weeds on through to the picturesk backdrop, were was Tesla even 2 years ago? It all comes down to getting marketshare of the next great thing, im bettin its coming and it aint about when... UberLong( tho when them days come, no love lost, its only business , also off the wall, DANG is looking quite appealing again.. ttul
    16 May, 01:06 PM Reply Like
  • Mking30
    , contributor
    Comments (139) | Send Message
     
    Roger out...
    16 May, 01:08 PM Reply Like
  • dwdallam
    , contributor
    Comments (6558) | Send Message
     
    M

     

    Just remember that the average lifespan of the human is about 75 years. Nokia should break $10 about then.
    16 May, 02:51 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5338) | Send Message
     
    (SUNE) looks a good buy now. http://yhoo.it/1gbN7y3
    Without the phone business, how high will (NOK) go? Maybe $20 at best. http://yhoo.it/13EObjZ;c=
    16 May, 08:46 PM Reply Like
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