- After more than 10 years of outstanding gains, David Einhorn's Greenlight Capital has dwindled to about $5.5B in assets under management from $12B in 2014, the Wall Street Journal reports, citing interviews with Greenlight investors.
- The value of an investment in Mr. Einhorn’s main fund declined 11% at the end of 2017 from 2014’s end, during a period when the S&P 500 rose 38%, including dividends.
- As a result, some investors have withdrawn their money, and others say they'll follow if results don't improve. Boston-area investor Peter Weiss says he withdrew hundreds of thousands of dollars this year. And Morten Kielland says he's withdrawn three-fourths of Key Family Partners SARL's investment from the fund. Some others say they've pulled their money out or are considering it.
- According to the article, Einhorn told investors in a presentation early this year, that he had been shorting stocks including Amazon.com (NASDAQ:AMZN) , Athenahealth (NASDAQ:ATHN), and Netflix (NASDAQ:NFLX), stocks-- all are up 19%-103% this year. Meanwhile, Greenlight’s second-largest holding as of March 31, according to its securities filing, is Brighthouse Financial (NASDAQ:BHF), which is down 31% this year.
- Related ticker: GLRE
- Previously: Einhorn hangs tough as value approach takes a beating: Bloomberg (May 17)
- Now read: Amazon: This Investment Fails A Generation
Original article