David Einhorn’s Greenlight Capital Sees 4.2% Growth in August

September 5, 2012 James Heinsman Company Spotlight

August saw promising growth for Greenlight Capital and hedge fund manager David Einhorn, who reported a 4.2% gain during the month as Coventry Health Care’s stock price jumped.

According to two anonymous sources, Einhorn’s firm revealed a 10.9% increase in 2012 to its investors on Tuesday. As mentioned above, Greenlight Capital benefitted greatly from stock price increases in Coventry Health Care. It also profited from gains in Apple, Seagate Technology and General Motors.

Einhorn’s performance is especially impressive because of August’s tumulus conditions. The Bank of America Merrill Lynch’s Investable hedge funds barely saw any growth during the month. According to Reuters, “Daniel Loeb told investors that his Third Point Partners fund gained 1.8 percent to be up 7.9 percent for the year, an investor said. His Third Point Ultra fund climbed 2.7 percent during the month and is up 11.2 percent for the year.”

David Einhorn, Greenlight Capital, hedge fund, Hedge Fund Industry, Merrill Lynch,

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