Greenlight's Einhorn Einhorn Still Likes Gold

Jul 30 2013 | 11:07am ET

Greenlight Capital remains a believer in gold, despite its reinsurance arm's move to reduce its exposure to the precious metal.

Greenlight Capital Re, which invests its premiums with the hedge fund, said its commodity holdings had fallen by almost half in the second quarter, both due to the precipitous drop in gold's price and its sale of some physical gold holdings. But in a conference call for the reinsurer, Greenlight chief David Einhorn said that his bullish views on gold have "not changed."

Einhorn said Greenlight had equal exposure to both physical gold and to gold miners, and that it was unhedged.

Einhorn also reiterated his faith in General Motors, saying it is "poised for rapid earnings growth," and remaining committed both to Apple Inc. and to his short bet against Green Mountain Coffee Rosters.

Greenlight Capital Re said its investments made 2% in the second quarter.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?