Following its fourth-quarter decline of 4.3% net, David Einhorn’s Greenlight Capital ended 2023 with a return of 22.1% net for the year 2023, compared to the S&P 500’s 26.3% return. During the fourth quarter, the gross losses in the fund’s short book cost it 12.3% or 11.1% net, versus a gross gain of 8.8% and a net gain of 7.1% for the long book. Since its inception in May 1996, Greenlight has returned over 2,900% net cumulatively or 13.1% on an annualized basis, versus the S&P’s 1,117% cumulative return and 9.5% annualized return. Fed policy weighs on Greenlight’s returns In…
Einhorn’s Greenlight Capital Ends 2023 with a 22% Return Despite Challenging Q4
Michelle deBoer-Jones
Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.
