Greenlight Capital Q1 2013 letter to shareholders is out. Earlier today, Sam Forgione of Reuters had a short summary on the Greenlight Capital Q1 2013 letter. Greenlight Capital is up 5.8 percent net for Q1. Returns in April were hurt by losses in gold. Below we have the full hedge fund letter (see Greenlight Capital Q42012 here). Some notable comments from the letter include CEO David Einhorn’s (more subtle) attack on Ben Bernanke and other Central Bankers’...
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Apple Inc. (NASDAQ:AAPL)’s plan to return capital to shareholders has earned the praise of David Einhorn, who has also increased his stake in the company. Einhorn sued Apple earlier this year in an attempt to get the company to increase shareholder value by returning more capital. David Einhorn’s Great Expectations For Apple Inc. (AAPL) On a conference call with his firm Greenlight Capital Re, Ltd. (NASDAQ:GLRE), Einhorn said that he expects that Apple Inc. (NASDAQ:AAPL)...
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Greenlight Capital Re, Ltd. (NASDAQ:GLRE), David Einhorn’s reinsurer, was almost flat in last month, returning -0.1 percent in April. Greenlight was up 5.8 percent in Q1. The latest information from the fund reports that the portfolio is 111 percent long and 75 percent short. The allocations in longs is slightly up since January, however the short portfolio still carries the same weight. David Einhorn’s net short exposure is significantly higher than many other competing...
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David Einhorn, the founder of Greenlight Capital, used derivatives to bypass the disclosure requirements while raising his stake in Marvell Technology Group Ltd. (NASDAQ:MRVL), according to the Form 3 filing with the Securities and Exchange Commission on April 8. Bloomberg reports that David Einhorn increased his holding in the semiconductor company to 12.4 percent in January from 9.7 percent by entering into return swaps on 11.9 million shares. Greenlight Capital had no other option but to disclose...
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In a surprising move today David Einhorn sold about 1.27 million shares of one of his top holdings, Marvell Technology Group Ltd. (NASDAQ:MRVL). The selling was executed between April 3 to April 4. The sold shares were just a fraction of Einhorn’s total stake in Marvell Technology Group Ltd. (NASDAQ:MRVL) which is equal to 51.8 million shares. Marvell Technology is a fabless semiconductor company that manufactures systems-on-chip devices. Marvell Technology Group Ltd. (NASDAQ:MRVL) was Einhorn’s biggest loser...
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Regulatory filings indicate that Greenlight Capital, which is headed up by David Einhorn, has increased its position in Cairn Energy PLC to 3 percent. It’s believed that the firm has held at least some position in the energy giant for quite some time. The hedge fund pushed its position up to 3.06 percent about a year ago but then let it fall back down below the 3 percent mark, which is the size of...
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David Einhorn has kept himself busy with Apple Inc. (NASDAQ:AAPL) and has since stayed quite for the most part. He has not einhorned any stock lately by mentioning it as a short or by failing to mention it. So for a change of scene we have some news from Einhorn. We have talked about how hedgers can contribute meaningfully to a charity through a fun game, Portfolios With Purpose, in which famous names like David...
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David Einhorn, the man who has become a verb with many Wall Street heavyweights calling his short-selling tactics as “Einhorning”, has shot to fame because of his unusually bold bets. When the thin and diligent 44-year old speaks at a conference, shares of the company he merely questions start to plunge within minutes. Bloomberg BusinessWeek‘s latest cover story reflects on David Einhorn’s big battles. At last year’s Sohn Investment Research Conference, he questioned the construction...
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Lets take a look at how the major hegde funds have performed through the year so far. Equity Long/Short and Event Driven hedge funds have mostly had brilliant returns through this year; a star example would be Dan Loeb’s Third Point Ultra, an event driven fund, which had gained 11.4 percent till March 6. On the other hand two of Paulson’s funds detracted, Paulson Advantage and Advantage Plus posted a loss of 2.6 and...
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The recent New York District Court ruling in Greenlight Capital vs Apple Inc. (NASDAQ:AAPL) case is being considered as an important one in the history of corporate governance. The ruling categorically disapproved bundling of materially separate issues into one proposal item in proxy statements. Basically, the Court ruled that proposal number 2 of the proxy statement of Apple violated the “unbundling” rules of the Securities & Exchange Commission (SEC). The proposal, therefore, was barred from being...
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On Friday in a rare nod to the “little guy” a judge voted in hedge fund manager David Einhorn’s favor as it ordered Apple Inc. (NASDAQ:AAPL) to stop getting shareholder votes for proposal to amend portions of its corporate charter. This comes as Einhorn’s firm, Greenlight Capital, sued Apple Inc. (NASDAQ:AAPL) in Manhattan’s federal district court on Feb. 7. The firm wants to unlock money from Apple’s $137 billion in shareholders’ cash. Einhorn’s lawsuit has challenged Proposal No....
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