David Einhorn's hedge fund, Greenlight Capital, posted its worst-ever loss last year, with its leading fund losing 9% in December alone and a total of 34% for the whole of 2018. However, as it turns out, Einhorn is much better at picking hedge fund managers than he is stocks.
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The Greenlight founder's fund-of-funds, Greenlight Masters, returned -13.4% in 2018, net of fees and expenses, underperforming the S&P 500, which returned - 4.4% according to a copy of Greenlight Masters January 2019 letter to investors , a copy of which has been reviewed by ValueWalk. ValueWalk also reviewed a copy of Greenlight Masters Q1 2019 stat sheet.
This is only the third time in the firm's history that it has generated a negative result. Greenlight Capital, accounted for nearly two-thirds of Masters' loss for the year.
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