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Einhorn’s Greenlight Hedge Funds Extend Slump in April

  • Main fund down 22.3% in the first four months of 2020
  • Einhorn says value stocks are poised to rebound after years
Updated on

David Einhorn’s hedge funds declined in April even as U.S. stocks had the biggest monthly gain since 1987.

The 1.1% drop added to first-quarter losses, leaving the Greenlight Capital funds down 22% this year, according to an investor update on Thursday viewed by Bloomberg. Much of the loss occurred because value stocks continue to massively lag growth shares. The S&P 500 Index jumped 13% in the month as unprecedented action by the Federal Reserve and the U.S. Treasury helped buoy stocks amid the coronavirus crisis.