Einhorn's Greenlight Pares 2019 Surge With 1.4% Loss in May
- Main hedge fund is still beating peers and market this year
- Greenlight had its worst year on record in 2018 with 34% drop
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Greenlight Capital, the hedge fund firm led by David Einhorn, fell 1.4% in May, paring a rebound from its worst year ever.
Greenlight’s main fund, which plunged 34% in 2018, is now up 17% this year, according to an investor update seen by Bloomberg. Einhorn’s value-investing strategy is beating peers and the S&P 500 Index, which has rallied about 11% this year with reinvested dividends. The HFRX Global Hedge Fund Index, an early indicator of industry performance, gained 2.6% this year through May 30.