Reuters – Hedge fund manager David Einhorn’s Greenlight Capital dramatically underperformed U.S. equity markets in the first quarter, dropping 3.4 percent net of all fees and expenses, according to a posting on its affiliate’s website on Monday.
According to Greenlight Capital Re, its investment portfolio was down 3.4 percent in the first quarter and negative 2.0 percent in March. By comparison, the benchmark Standard & Poor’s 500 index rose 5.42 percent in the first quarter and dropped just 0.1 percent last month.
