No Gelt For Greenlight

It’s safe to say that David Einhorn’s gonna be down this year unless he kills Elon Musk or something.
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It’s hardly worth noting at this point that David Einhorn lostsomemoremoney last month. Was it a month? Is Greenlight Capital still in business? Then ipso facto Einhorn and Greenlight were in the red.

einhorn-cosmic

The firm sent an investor update after the close of business on Friday informing clients the fund lost 3.6 percent net of fees in November, bringing the loss for the first 11 months of the year to 27.7 percent, according to a copy of the update seen by Reuters.

Since it’s of little interest to note the fact that Einhorn lost money last month, we turn to the question of how. Earlier this month, you might have guessed that it was the fault of Brighthouse Financial or GM, but no. They turned things around and ended November down just a little, while Greenlight ended it down more than a little. So what was it? Come on. You know the answer.

He has also had a long-running bet against electric car maker Tesla, whose stock recovered from a slump in October and is now roughly unchanged on the year.

Losses at Einhorn’s hedge fund Greenlight grow in November [Reuters]

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