Greenlight Up 19.6% In 2013

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%.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...