Bloomberg is reporting that Greenlight Capital shed an ‘unexplained’ $600 million last year, chalking it up to redemptions–since the fund lost 20% in 2015. But, hidden amongst the rubble of their idiotic article was the fact that Greenlight made 1.4% in January.
This is especially impressive, since, according to recent filings, his largest holdings were AAPL and GM, down 8% and 11%, respectively, for the year. He must’ve offset those losses with hedges and his large gold holdings.
One of Einhorn’s newest positions is Macy’s, which is up 17% for the year. In pre-market trading, one of their top 5 holdings, KORS, is up 17% on an earnings beat. That should help offset some of the fuckery stocks are about to endure–with Dow futures off by 155.
Kudos to David for crushing January.
If you enjoy the content at iBankCoin, please follow us on Twitter
