Einhorn's Greenlight Reports August, Down Badly

David Einhorn's Greenlight Capital revealed that its fund was down 5.5 percent in August, bringing the year to date loss to 14 percent, according to its web site. Looking for the silver lining, the hedge fund, known for its activism and finding value in the stock market with strong recent years past performance, did slightly outperform the S&P 500 stock index at least on a monthly basis, which was down 6.3 percent in August.

Greenlight under-performing on a yearly basis

The August losses come as other hedge fund strategies had performed to various levels. Daniel Loeb's Third Point...