Tuesday, 6 October 2015
Last updated 2 hours ago
Jan 6 2014 | 1:22pm ET
Greenlight Capital returned nearly 20% last year, according to its reinsurance business.
Greenlight Capital Re, which invests its premiums with the hedge fund, said that its namesake returned 19.6% last year after a 0.6% rise in December. Greenlight managed the strong returns in spite of a large short book in the face of surging equities markets and a big position in gold.
Firm founder David Einhorn's long bets more than made up for it, however. Greenlight's largest position, in General Motors, returned 46% this year. Other top-five holdings, including Vodafone Group and Marvell Technology Group, rewarded Einhorn with double- and triple-digit returns.
Einhorn also avoided losses by slashing his gold investments, once among his top-five holdings. Gold suffered its worst year in decades in 2013, losing 28%.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…