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Einhorn Stresses His Frustration While Sticking to Value Wagers

  • Greenlight hedge funds lost about 19% in first seven months
  • Einhorn’s short on Tesla was his second biggest loser
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Einhorn Returns Model S as Tesla Short Dents Greenlight's Returns

Hedge fund manager David Einhorn reiterated his disappointment with his firm’s performance this year, while affirming his commitment to value-investing.

“This has been a frustrating environment for us and for value investing styles,” Einhorn said Thursday on an earnings call for Greenlight Capital Re Ltd., the Cayman Islands-based reinsurer where he is chairman. “The market is cyclical and given the extreme anomaly, reversion to the mean should happen sooner rather than later, we just can’t say when.”