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David Einhorn Won’t Speculate on Currency Markets

David Einhorn has been investing in European Markets for quite some time. He has a large long position in Vodafone (VOD) in England and Delta Lloyd (DL) in the Netherlands (See David Einhorn’s Investment Style). Vodafone is denominated in GBP and Delta Lloyd is denominated in EUR. However, David Einhorn has no idea where these currencies are heading. He can’t tell whether they’re going to go up or down, so he hedged all his foreign exchange exposure. He was speaking with Betty Liu and Jon Erlichman on Bloomberg Television’s “In the Loop” this morning. Here is the segment where he talks about the European debt crisis from that interview: