Einhorn Says Greenlight Underperformance Is Worst Since 2000
- Manager says reversion to value stocks may be coming soon
- Greenlight Capital Re shares tumble 4% after earnings miss
David Einhorn's Greenlight Capital Turns Red
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Hedge fund manager David Einhorn said a shift in favor of value stocks may soon be coming even after his firm posted its worst underperformance in almost two decades.
“While we’ve never underperformed like this, our prior worst underperformance compared to the S&P came in March of 2000, which was a similar environment," Einhorn said Wednesday in a conference call discussing results for Greenlight Capital Re Ltd., the Cayman Islands-based reinsurer where he is chairman.