His main Greenlight Capital hedge fund gained 0.4 percent in December, bringing its 2015 loss to 20 percent, according to an e-mail to investors that was obtained by Bloomberg. It was only the second losing year in Greenlight’s almost 20-year history. The last annual decline came in 2008, when the fund fell 23 percent. [Bloomberg]
In fact, it's difficult to impossible to imagine it having gone worse.
He's got a fallback career as a ghostwriter of letters that will cause the recipients to piss their pants in fear but for now it looks like this whole hedge fund manager thing is panning out pretty well.
Depending on how investors want to look at things.
The Greenlight Capital founder just got up to speed on the last season and has feelings about it.
Back in February, in his annual letter to investors, Berkshire Hathaway chief Warren Buffett spent a good bit of time discussing why one shouldn't own gold. Beyond the fact that, according to WB, gold doesn't "change in size and [is] incapable of producing anything," and you'd be much better off buying farmland (which "a century from now will have produced staggering amounts of corn, wheat, cotton and other crops and will continue to produce that valuable bounty") or shares of Exxon Mobil (which "will probably have delivered trillions of dollars in dividends to its owners," the Oracle of Omaha had one incontrovertible, be all end all reason for eschewing the metal: its unfuckability. Oh sure, you can do things to a cube, you can fondle it, you can talk dirty to it, you can send nude pictures of yourself, you can even drill a hole in it and fuck it senseless, but, the thing is, the cube will not respond. No reciprocation, no gratitude, not even a sign it enjoyed itself. For Buffett, no further argument was necessary as to the worthlessness of the commodity. (Silver, on the other hand, will make you feel like you're 18 again.) Anyway, David Einhorn sort of feels the same way about the dollar. Greenlight Capital 1Q2012 Letter To Investors [PDF] Related: Don't Think He Hasn't Tried
