Author Topic: Greenlight Q3 Letter  (Read 10116 times)

stahleyp

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Re: Greenlight Q3 Letter
« Reply #30 on: August 02, 2018, 06:51:38 AM »
yeah his last 6 or 7 years were horrendous.
« Last Edit: August 02, 2018, 08:58:12 AM by stahleyp »
Paul


StevieV

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Re: Greenlight Q3 Letter
« Reply #31 on: August 02, 2018, 08:05:36 AM »
Styles of investing, including, and perhaps especially, value, don't work all the time.  That is fine.  But, Einhorn has dug himself quite the hole over the last few years versus the market.  It isn't easy to make up that type of under-performance.  Perhaps particularly so when long-short.

Einhorn
H1 2018 - (18%)
2017 - 1.5%
2016 - (0.1%)

S&P
H1 2018 - 2.7%
2017 - 22%
2016 - 12%

Gregmal

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Re: Greenlight Q3 Letter
« Reply #32 on: August 02, 2018, 08:16:34 AM »
Styles of investing, including, and perhaps especially, value, don't work all the time.  That is fine.  But, Einhorn has dug himself quite the hole over the last few years versus the market.  It isn't easy to make up that type of under-performance.  Perhaps particularly so when long-short.

Einhorn
H1 2018 - (18%)
2017 - 1.5%
2016 - (0.1%)

S&P
H1 2018 - 2.7%
2017 - 22%
2016 - 12%

I agree. It's odd to me how one's style of investing can in and of itself be an excuse. Most things don't work all the time. However if you have enough evidence to conclude that something isn't working(ie your returns suck), I don't know why you wouldn't look to fix it. Only in the hedge fund world can awful performance be excused simply by drawing some nonchalant, lazy excuse like "I'm a value guy".