Einhorn’s Greenlight Underperformed ‘Broken’ Stock Market Last Quarter

-- David Einhorn’s Greenlight Capital underperformed the “fundamentally broken” stock market at the start of the year, according to a letter to investors.Biden’s New Chopper Is Demoted After Scorching White House Lawn

The results were still better than the prior quarter. In the final three months of 2023, the fund lost 4.3%, net of fees and expenses, compared to a roughly 12% return for the S&P 500 index that includes dividend gains. For the full year, the fund was up about 22%, versus a 26% return for the US benchmark.

Earlier this month, Einhorn said at a conference in New York that the company was betting on Solvay SA. The Belgian chemicals company is among Greenlight Capital’s largest disclosed long positions, according to the letter. Investors are ramping up their exits from Cathie Wood's ARK after an epic 72% decline in her flagship fund

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Einhorn’s Greenlight Underperformed ‘Broken’ Stock Market Last QuarterDavid Einhorn’s Greenlight Capital underperformed the “fundamentally broken” stock market at the start of the year, according to a letter to investors.
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