Greenlight’s Shorts Prove Costly In Q1

Apr 12 2011 | 4:50am ET

Greenlight Capital’s first-quarter woes stem from a short book soaked in red.

The New York-based activist hedge fund is down 2.9% this year. Its long bets are up an impressive 6.7%, thanks to investments in physical gold and oil giant BP. Its short bets are another matter, entirely.

Greenlight’s short investments lost 9.2% during the first three months of the year, Reuters reports. While Greenlight, headed by David Einhorn, will not disclose its first-quarter holdings until next month, much of the hedge fund’s trouble could be from The St. Joe Co.

Einhorn blasted the Florida real-estate firm last year, showing the Value Investing Congress pictures of vacant St. Joe buildings amidst fields of weeds. But St. Joe has had the latest, if not the last, laugh, with its shares soaring 14.7% in the first quarter.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of