Hedge fund manager David Einhorn (Trades, Portfolio) held a conference call Tuesday to discuss the earnings of his reinsurance company and investment vehicle, Greenlight Re, with more upbeat news than in recent periods. Holdings in Greenlight’s portfolio climbed 2.5%, while the S&P 500 index rose just 1.5% in the first three months of the year. Last year, Einhorn suffered a 20% loss.
Though Einhorn said he saw profits across his long, short and macro positions, the portfolio was not immune to some serious hits, like SunEdison (SUNE), whose stock crumbled after a surprise bankruptcy. Einhorn also updated on market sectors he finds bullish and bearish, and on his “bubble basket” of momentum tech stocks, in the transcription below. Continue Reading »