Apologies a few days late with this one but here below the brilliant Daid Einhorn’s Q3 letter to shareholders. Ill run through his latest entries in the next few days and update this post. He has made some exceptionally good calls in the last few months inc Vod, Green Mountain etc. I see he has added GM which interests me. I covered his addition and comments re the gold miners recently in a separate post. I also see that in spite of his superb calls the various hedge funds that he manages are down around 6% ytd.
Benchmarking wise, this soothes my own personally average year ytd. I’m not sure David uses FX as a hedge and gearing instrument alongside his $ equity investments. A purely currency debasement cannot explain my out performance as, even at today’s prices, the euro vs usd has gained around 1% or so. ie $ funds should have outperformed vs euro funds to reflect this $ debasement, although 1% is pretty much noise.
Even a mild out performance vs Paulson, Einhorn and the many other super star fund managers is to be welcomed. Albeit on a ‘be’ type performance. Never mind that small detail.. lol..
Greenlight-Capital-Q3-2011-Letter
All the best Rich
(2 votes, average: 5.00 out of 5)
Loading...