David Einhorn: Down But Not Out
David Einhorn’s Greenlight Capital is down again. But is he out? Greenlight was down 6.2% in February. The fund is now down 12.3% for 2018. The S&P 500 is up 1.8% this year.
Einhorn calls this his worst underperformance ever. This is like March 2000 says Einhorn . But, when the tech bubble burst, Einhorn made out well. Einhorn says that a reversion might be on the horizon as he places his short bets and continues to tout his value plays. Of note, Greenlight’s big bets on General Motors and Brighthouse Financial have been notable laggards. The fund’s short bets continue to run higher — including Amazon and Netflix.