Einhorn Goes Long On Micron, Which He Once Shorted

Jan 23 2014 | 2:42pm ET

David Einhorn has had a change of heart on Micron Technology.

The Greenlight Capital founder shorted the semi-conductor company from 2001 to 2005. But last year he opened a long position in Micron, one that helped fuel Greenlight's 19.5% return.

"This is the first time we have taken a long position in a company in which we once had a material short position," Einhorn said, praising Micron's efforts to return cash to shareholders.

Einhorn, in a letter to investors, also announced that Greenlight had opened a position in BP and added to its investment in Anadarko Petroleum, while exiting Thyssen Krupp and Airbus Group.

In addition to Micron, Einhorn said Greenlight's gains in 2013 we due to its investments in Apple Inc., General Motors and the Japanese yen. Losers included Chipotle Mexican Grill and U.S. Steel.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of