Greenlight Up 4.3% On Bubble Bet

May 2 2014 | 2:14pm ET

Greenlight Capital jumped back into the black in April, as the stocks in its “bubble basket” deflated.

New York-based Greenlight rose 4.3% last month, bringing the $10 billion fund up to 3.1% for the year. Greenlight had been down 1.5% in the first quarter.

Greenlight founder David Einhorn wrote that the market is facing its “second tech bubble in 15 years.” So Greenlight shorted a host of technology and other momentum stocks, profiting when the tech-heavy Nasdaq Composite Index fell 5% in March and April.

Greenlight isn’t bearish about all tech stocks: The firm has long bets on Apple Inc. and Micron Technology, and both paid off, rising 10% or more in April.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note