davideinhorn
Dear Partner: The Greenlight Capital funds (the “Partnerships”) returned 14.5%1 in the second quarter of 2023, net of fees and expenses, compared to an 8.7% return for the S&P 500 index. If you would have told us on January 1 that for the first half of the year, the S&P 500 would be up 17%, the NASDAQ Composite would be up 32%, the ARK Innovation ETF would be up 41%, the Russell 1000 Pure Value index would be down 2%, and we would still return 13.1%, we would want to ask, “How the heck did that happen?” Read more hedge fund letters In the quarter, the other material winners were: Interest rate...
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Dear Partner: Greenlight Capital’s PerformanceThe Greenlight Capital funds (the “Partnerships”) returned (1.3%)1 in the first quarter of 2023, net of fees and expenses, compared to a 7.5% return for the S&P 500 index. Many have commented that in the beginning of 2023, whatever worked in 2022 didn’t work and vice versa. That seems about right to us. During the quarter, our longs gained 9.9%, while our shorts lost 10.8% and macro lost 0.4%, net of fees and expenses. Read more hedge fund letters Green Brick PartnersStarting with the good, Green Brick Partners (NYSE:GRBK), which was our largest lo...
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If you want to attend the London Value Investor Conference 2023 next week you need to register now with the ValueWalk discount before April 15. ValueWalk subscribers get a £240 registration discount using code“VALUEWALK_LVIC23“ Q1 2023 hedge fund letters, conferences and more There will be over 15 investment ideas presented in detail at the conference – during presentations with the following titles: The Next SurpriseBank to the FutureValue Investing Isn’t What You Think It IsA Different Kind of Value Investing. A Better Kind of Private EquityWhy Dividends MatterQuantum India: Finding Value in...
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David Einhorn’s 2022 letter to investors. Dear Partner: The Greenlight Capital funds (the “Partnerships”) returned 36.6% in 2022, net of fees and expenses, compared to an 18.1% loss for the S&P 500 index. Since the inception of Greenlight Capital in May 1996, our Partnerships have returned 2,358.3% cumulatively or 12.8% annualized, both net of fees and expenses.1 Over the same period, the S&P 500 index has returned 864.0% or 8.9% annualized. Greenlight’s investors have earned $5.2 billion, net of fees and expenses, since inception. Q4 2022 hedge fund letters, conferences and more Our successfu...
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Dear fellow investors, In the 1994 comedy film, Ace Ventura: Pet Detective, Lt. Einhorn is the female leading the Miami police’s investigation of the disappearance of the Miami Dolphin’s mascot, Snowflake. Oddities come up with the investigation. The protagonist Ace Ventura, played by Jim Carrey, figures out that Ray Finkle has been plotting his revenge for his missed field goal kick in Super Bowl XVII (“Laces out Dan”). To his horror, he realizes that Lt. Lois Einhorn is actually the former 1984 Miami Dolphin kicker Ray Finkle. Q3 2022 hedge fund letters, conferences and more When he and his ...
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Dear Partner: The Greenlight Capital funds (the “Partnerships”) returned 4.0%1 in the third quarter of 2022, net of fees and expenses, and 17.7% for the first nine months of 2022, net of fees and expenses, compared to a 4.9% decline and a 23.9% decline for the S&P 500 index for the quarter and first nine months, respectively. Q3 2022 hedge fund letters, conferences and more It is now clear that we are in a bear market. Our pivot in January from ‘cautious’ to ‘bearish’ has helped the Partnerships. While for many years, and since inception, the Partnerships have outperformed the S&P 500, over th...
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David Einhorn urges Delaware Chancery Court to rule against Elon Musk’s purchase of Twitter. Greenlight Capital commentary for the second quarter ended June 30, 2022. Dear Partner: Greenlight Capital’s PerformanceThe Greenlight Capital funds (the “Partnerships”) returned 8.4%1 in the second quarter of 2022 and 13.2% for the first half of 2022, compared to a 16.1% decline and a 20.0% decline for the S&P 500 index for the quarter and half year, respectively. Q2 2022 hedge fund letters, conferences and more The quarterly outperformance vs. the S&P 500 was the best relative performance in the hist...
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David Einhorn comments that the Federal Reserve now realizes that it has an inflation problem. Greenlight Capital commentary for the first quarter ended March 31, 2022. Dear Partner: Greenlight Capital’s PerformanceThe Greenlight Capital funds (the “Partnerships”) returned 4.4%1 in the first quarter of 2022, compared to a 4.6% decline for the S&P 500 index. Q1 2022 hedge fund letters, conferences and more To start with a quote for a change, Vladimir Lenin said: “There are decades where nothing happens, and there are weeks where decades happen.” A lot happened this quarter, culminating in an un...
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David Einhorn warns that the Federal Reserve is playing with fire and is fueling inflation. Greenlight Capital commentary for the forth quarter ended December 31, 2021. Q4 2021 hedge fund letters, conferences and more Dear Partner: Greenlight Capital's PerformanceThe Greenlight Capital funds (the “Partnerships”) returned 11.9%%1 in 2021 compared to 28.7% for the S&P 500 index. Since its inception in May 1996, Greenlight Capital, L.P. has returned 1,882.6% cumulatively or 12.3% annualized, both net of fees and expenses. Greenlight’s investors have earned $4.7 billion, net of fees and expenses, ...
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The following is the line up for the Sohn Investment Conference that will be held today virtually, May 12th, from 12:00pm to 2:30pm EST. Stay tuned for much more coverage by coming back to this link today and over the next few days. Q1 2021 hedge fund letters, conferences and more Line Up Of The 2021 Sohn Investment Conference12:00 PM - 12:05 PM: Area - Live Stream - Opening Remarks12:05 PM - 12:25 PM: Area - Live Stream - Bill Gurley (Benchmark) in conversation with Brad Gerstner (Altimeter Capital)12:25 PM - 12:35 PM: Area - Live Stream - Ram Parameswaran (Octahedron Capital)12:35 PM - 12:45...
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