David Einhorn Laments At Greenlight Annual Dinner: In 2018 “We Weren’t Right About Anything”Rupert Hargreaves
Last year, David Einhorn's Greenlight Capital recorded one of the worst losses in its 23-year history.
As has been widely reported over the past few weeks, Einhorn's flagship fund lost -34.3% in 2018 substantially underperforming the S&P 500, which lost -4.4% for the year. 2018 was the year "we weren't right about anything," Einhorn told his partners at the hedge fund's 23rd annual partner dinner.
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According to his presentation at the dinner, all but two of Greenlight's positions moved against the hedge fund in 2019. When the dust settled at the end of the year, only Micron and Twitter had produced a positive gross return according to a copy of the presentation that ValueWalk has been able to review.
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