Greenlight Sharply Cuts Its Market Bet

Why the hedge fund firm expects the economy to be rocked by geopolitics, and how it is positioned.


Illustration by II

David Einhorn’s Greenlight Capital has turned considerably more bearish.

The value-driven hedge fund has reduced its gross exposure from 191 percent to 160 percent, according to its third-quarter letter, which was obtained by Institutional Investor. The firm notes that it did not establish any material new positions in the third quarter.


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