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: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...