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  "documentTitle": "US/Japan Sovereign Debt & Fiat Currencies (Macro)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2009-10-19 00:00:00",
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      "text": "At the May 2005 Ira Sohn Investment Research Conference in New York, I recommended MDC Holdings, a homebuilder, at $67 per share. Two months later MDC reached $89 a share... anyone who listened to me would have lost about forty percent of his investment.",
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      "text": "I want to revisit this because the loss was not bad luck; it was bad analysis. I down played the importance of what was then an ongoing housing bubble. On the very same day... Stanley Druckenmiller, explained in gory detail the big picture problem.",
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      "text": "One of the nice aspects of trying to solve investment puzzles is recognizing that even though I am not always going to be right, I don't have to be. Decent portfolio management allows for some bad luck and some bad decisions.",
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