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David Einhorn Underperformed in 2012

January 04, 2013 | About:
matsandalex

matsandalex

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It was recently reported that Greenlight Capital, managed by David Einhorn, greatly underperformed the benchmark indices in 2012.

Einhorn's fund was only up 8.3% in 2012 while the S&P was up 13.4% in the same period.

Coming into December, Einhorn's fund was up double digits but a rough December saw his fund lose 2.8% in December.

Specifically, Einhorn watched gains in Apple (AAPL) disappear during the month of December. Apple was a huge part of Einhorn's portfolio at over 13%. Apple shares were hit hard amid fears of a slowdown in sales for the iPhone 5.

In addition, Einhorn had a big bet on gold in 2012 that produced only small gains. As of last quarter, 5.3% of his portfolio was in the gold ETF (GDX). Gold had a rough December with rumors that John Paulson was selling to meet liquidation orders.


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