We usually do a monthly analysis of David Einhorn’s returns (see June here), but since there is little news, Greenlight RE will be holding a conference call in a few days, and Greenlight just released their Q2 letter to investors we will just list returns below as well as top holdings.
We assume the negative returns are due to MU and MRVL suffering declines of approximately 9 and 10% respectively in July..
UPDATE: 11:35 PM EST: Dan Loeb also had a disappointing July, below are the latest numbers:
JPMorgan’s Erdoes From Delivering Alpha: How The Pandemic Is Triggering Deglobalization
The more connected the world has become, the easier it has become for investors to look outside their home country to find alpha. However, the pandemic has resulted in a shift toward deglobalization. In an interview on CNBC's Delivering Alpha, JPMorgan Asset and Wealth Management CEO Mary Callahan Erdoes, Alibaba Executive Vice Chairman Joseph Tsai Read More
July YTD 2014
UPDATE: 4:53PM EST August 1st Loeb’s investor tear sheet for July is embedded below
Greenlight Net Monthly Returns:
July 2014: (2.6)%
Net Quarterly Returns:
|Full Year|| 4.4(3)
As of 31-July-2014, the largest disclosed long positions in our investment portfolio are Apple, gold, Marvell Technology, Micron Technology, Resona Holdings and SunEdison; our investment portfolio is approximately 113% long and 68% short. All exposure information is calculated on a delta adjusted basis and excludes credit default swaps, interest rate swaps, sovereign debt, currencies, commodities, and derivatives on any of these instruments.
If you missed it… Greenlight Q2 is embedded below.
Greenlight Capital Q2 2014 by ValueWalk