One of the newer hedge fund industry's shining lights David Einhorn's Q2 letter below.  He is of course having a relatively tough 2011.  Ironically he threw in the towel on his shorts at maximum pain level in May 2011, just as the market was soon to have a 7 week correction.

Qlet2011-02

[May 2, 2011: David Einhorn Throws in the Towel on Many Short Positions as Ben Bernanke Squashes Him]

[Dec 6, 2010: [Video] The Always Eloquent David Einhorn]

[May 27, 2010: David Einhorn Op-Ed: Easy Money, Hard Truths]

[Oct 19, 2009: David Einhorn's Speech at Value Investing Congress]

[Jan 5, 2009: New York Times Opinion Piece by Lewis and Einhorn]