This paper offers an attempt to reconstruct the way in which Heidegger arrives at his peculiar interpretation of the connection between phi upsilon sigma iota sigma and alpha lambda eta theta epsilon iota alpha , which constitutes a key element of the "hermeneutics of the two beginnings" presented in Beitrage zur Philosophie, and which from then on plays a very important role within the framework of the "turn" (Kehre) that gives rise to "ontohistorical thinking" (seinsgeschichtliches Denken). For this, the way in which Heidegger interprets the thought of Heraclitus is considered. In addition to trying to contribute to a better understanding of the internal development of Heideggerian thought, the discussion also aims to make possible a critical evaluation of the plausibility of the interpretive construction elaborated by Heidegger.