David Einhorn: value is struggling

Hedge fund manager David Einhorn says his favoured strategy of value investing – buying out-of-favour companies – has struggled as growth company stocks have shot up.

908_MW_P14_Guru

David Einhorn, founder and president of Greenlight Capital
(Image credit: 2015 CNBC Media, LLC)

Star hedge-fund manager David Einhorn hasn't performed well lately and admits it's been "far worse" than he could have imagined. In fact, his hedge-fund firm, Greenlight Capital, lost 5.4% in the second quarter, which has resulted in a whopping year-to-date loss of 18.3%, according to CNBC. The S&P 500, by comparison, gained 2.6% in the year to 30 June.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.