Greenlight Masters, the fund of funds managed by value investor David Einhorn returned 11.1% net of fees and expenses in 2019. While this was below the S&P 500's return of 31.5%, it fell within the Masters the long-term annual return goal of 10% to 15%.
Since its inception in 2002, the Masters fund has produced an annualized return of 7%. That's according to a copy of the firm's fourth-quarter and full-year letter to investors, which has been reviewed by ValueWalk.
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It has earned a double-digit return in 10 out of the last 17 years. Last year the fund lost...
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