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December 4, 2021
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David Einhorn Isn't Gonna Mince Words Here: 2015 Could've Gone Better

In fact, it's difficult to impossible to imagine it having gone worse.
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Years from now Team Greenlight will look back on 2015 and laugh, but for now any mention of mention of that annus f*cking horribilis should be considered TOO SOON.

"Let's get some of the gory facts out of the way: we lost money every quarter. We had six positions that cost us more than 1%, but only one position that made more than 1%. We were short the top two performing stocks in the S&P 500 (Netflix (NFLX) and Amazon (AMZN)). We were long two of the 10 worst performing stocks in the S&P 500 (CONSOL Energy (CNX) and Micron Technology (MU)). We didn't own any of the 50 best performing stocks in the S&P 500. We had four shorts taken over. We surrendered a lot on a few other shorts either by covering right before they fell, or declaring victory right before they fell much further. We failed to monetize nice gains in MU and SunEdison (SUNE) at what now look to be great prices."

Greenlight Capital Q4 Letter To Investors [ValueWalk]

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