Greenlight Capital, the $11.8 billion investment firm led by billionaire David Einhorn, fell 2.5 percent in its main hedge fund in January, Bloomberg said, quoting data from an e-mail sent to investors.
The fund declined as the Standard & Poor’s 500 Index dropped 3.1 percent in January, the worst month in a year, amid concerns that slower overseas growth, the plunge in crude oil and a stronger dollar could hurt the American economy, Bloomberg said.
Greenlight, which mainly invests in equities, gained 8 percent last year compared with 1.4 percent for the average hedge fund. Einhorn told investors in a letter referring to the 2014 performance that the New York-based firm “would have both liked and expected to do better”, according to Bloomberg.
Meanwhile, in an article on the biggest questions facing Apple after it became the most profitable company in history last week, the Guardian said activist investors Einhorn and Carl Icahn have tried to interfere with Apple chief executive Tim Cook’s management, but he has stood his ground.