The founder of Greenlight Capital remarked in an interview with Bloomberg Television on Tuesday.
Just before the Robin Hood Investors Conference in New York, "I don't know if it ever comes back.
The majority of value investors, according to 53-year-old Einhorn, are being forced out of business due to "severe changes to the market structure."
There just aren't many of us left, he said, noting that the majority of market participants these days lack the knowledge.
Fewer participants imply that no one is watching what is happening to these enterprises, and Einhorn claimed that "nobody knows what anything is worth."
According to David Einhorn, value investing may never resurface.