Greenlight Warns That the Bull Market Could Be on Its Last Legs

David Einhorn’s value-driven fund is positioned for a “problematic economic environment.”

David Einhorn (Kholood Eid/Bloomberg)

David Einhorn

(Kholood Eid/Bloomberg)

David Einhorn’s Greenlight Capital has become decidedly bearish.

In its first-quarter letter, signed by the firm and obtained by Institutional Investor, the value-driven hedge fund painted a pessimistic picture, citing rapidly rising inflation, Russia’s invasion of Ukraine, the lingering effects of Covid-19, and other global developments.


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