Greenlight's December Losses Cost It A Double-Digit Year

Jan 7 2013 | 12:53pm ET

Greenlight Capital's strong 2012 ended on a sour note, with the hedge fund losing 2.8% in the year's last month.

Greenlight's December decline left the firm up 8.3% on the year.

New York-based Greenlight had been up by double-digits. But the firm has been hurt by two of its largest investments, in Apple Inc. and gold. The hedge fund also lost ground on Marvell Technology Group shares.

Despite the losses, Greenlight still handily topped the average hedge fund, which returned in the mid-single digits last year. But it badly lagged the broader markets; the Standard & Poor's 500 Index rose 16% in 2012.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…