Greenlight Capital 2017 Q3 Investor Letter

David Einhorn’s Greenlight Capital published its 2017 Q3 investor letter. You can download a copy of the letter below. “The Greenlight Capital funds (the “Partnerships”) returned 6.2% net of fees and expenses, in the third quarter of 2017, bringing the year-to-date net return to 3.3%. During the third quarter, the S&P 500 index returned 4.5%, bringing its year-to-date return to 14.2%,” the letter said in its initial paragraph.

Clearly, long-short equity hedge funds that follow the principles of value investing are suffering this year as well. Growth stocks such as Amazon, Tesla, and Netflix have been performing better than value stocks and this has been hurting Greenlight Capital’s performance which is shorting these stocks as a hedge. You can read Greenlight Capital’s comments regarding these stocks below:

Greenlight Capital 2017 Q3 Investor Letter