David Einhorn, the famous hedge fund manager, has just released his second quarter letter. The firm suffered a 3.2% drop in the second quarter, but is up 3.4% for the year. Einhorn criticizes the actions of European Central Bank, and the constant cycle, which he noted in an earlier letter.
The biggest winner is a short position in Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR), which fell from $46.84 to $21.78 per share.
Einhorn discloses new short positions, but does not give names. He is long CIGNA Corporation (NYSE:CI) and Coventry Health Care, Inc. (NYSE:CVH). Einhorn notes that, ‘the entire sector had been battered in anticipation of Obamacare.’
H/T Deal Breaker