Sunday, 19 April 2015
Last updated 16 hours ago
Nov 4 2013 | 11:47am ET
Greenlight Capital has boosted its short bets even as stocks continue to soar.
The New York-based hedge fund's founder, David Einhorn, said the firm's short book had grown against its long in a conference call for its reinsurance arm, Greenlight Capital Re. Einhorn added to his shorts in spite of the fact that they've cost him this year.
"As the market continued its relentless climb, we've become more conservatively positioned," he said.
Greenlight is up about 12% this year, thanks to its long bets on Apple Inc. and other companies. Its short book has cut into that return, he admitted.
"The losses in the short book were broad-based, and we continue to be short most of the companies that contributed to the loss," Einhorn said. "These include a variety of companies which tend to have conventional valuations, rather than speculative-story stocks that have caused excessive pain for other short sellers."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…