(Bloomberg) Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee investments, posted its fifth loss in six quarters as the portfolio slumped.
The second-quarter net loss widened to $63 million, or $1.69 a share, from $39.6 million, or $1.06, a year earlier, the Cayman Islands-based company said Monday in a statement. Einhorn was hurt in the period by an oil-fracking short and a bet against Amazon.com Inc., the online retailer that surged 21 percent in the three months ended June 30, according to a letter to his hedge fund investors last week.
