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Greenlight Capital 2011 Letter to Investors

February 09, 2012 | About:
Not a great year by Einhorn's standards, being up roughly 2% across the funds.

One point of pride though — Greenlight was short the worst-performing stock in the S&P 500. First Solar (NASDAQ:FSLR) declined from $130 to $33 in 2011. The fund also did well on credit default swaps on European debt.

An interesting point is that for the second year in a row Greenlight's worst performing position was one designed to profit from the weakening of the yen.

If you have been following the GuruFocus articles on Kyle Bass, you will be a aware that a lot of smart people think Japan is headed for a European-type mess on a larger scale.

Green Light 2

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