Tuesday, 6 October 2015
Last updated 17 hours ago
Aug 6 2012 | 11:37am ET
Greenlight Capital soared in July, its gains fueled by its continuing bet against Green Mountain Coffee Roasters.
The hedge fund rose 2.7% last month, bringing its year-to-date gain to 6.4%. Much of the return can be attributed to Greenlight's shorts on Green Mountain, whose shares fell 16.6% on the month. Greenlight's bet against the company helped blunt its losses in the second quarter, when it lost 3.2% but Green Mountain fell 13.2%.
Greenlight's new investments in health management companies Cigna Corp. and Coventry Health Care haven't worked out just yet. The former lost 8.45% in July while the latter gained 4.84%. Of course, Greenlight's wisdom in buying the stocks last quarter won't be borne out until November at the earliest—Greenlight said it bought them in part in anticipation that the presidential election will result in "a possible modification or repeal" of President Barack Obama's healthcare policy.
May 27 2015 | 2:15pm ET
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