Greenlight Capital's David Einhorn posted one of his best years ever with an outstanding return north of 30%, thanks in part to his short position in a slew of innovative technology stocks like those touted by growth investor Cathie Wood. The star hedge fund manager said his fund rallied 36.6% in 2022, compared to a 19.4% loss for the S & P 500. Einhorn also said he is still short some 'bubble' names.
mountain ARK Innovation ETF's 1-year sell-off Einhorn said he created another "bubble" basket with 31 names totaling 6.5% of capital in January of last year. He defines a bubble stock as one that could fall at least 80% and still not appear cheap after looking at the company's financials and valuations. Einhorn said this bubble basket remained in the portfolio but he has covered some positions.
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