David Einhorn Is Having A Great Year As He Maintains Bearish Stance [Q3 Letter]

According to data from Eurekahedge, the average long/short equity hedge fund is down 11% year to date. However, David Einhorn’s Greenlight Capital is bucking the trend. According to the hedge fund’s third-quarter investor letter, which ValueWalk has been able to review, it returned 4% in the third quarter of 2022 after fees and expenses. Following this performance, the fund has returned 17.7% for the first nine months of 2022 after all costs. In the past couple of years, Greenlight has underperformed the wider market as Einhorn’s preference for value stocks has held back returns. As the fund manager notes in…