(born March 24, 1968) is President of Greenlight Capital
, a "long-short value-oriented hedge fund", which he began with $1 million in 1996. Greenlight has historically generated greater than a twenty-two percent annualized net return for partners and investors.Hugo Lindgren, , New York Magazine
, 2008/06/15.David Einhorn, , Fooling Some of the People All of the Time: A Long Short Story" (website/blog), last visited 2010/03/09. Einhorn is the Chairman of Greenlight Capital RE, Ltd, a Cayman Islands-based reinsurance company and one of its major shareholders. He is currently in exclusive negotiations to become minority owner of the New York Mets of Major League Baseball.
Born in 1968, he lives in Westchester County, New York
with his wife, 2 daughters and son.
His name is most closely associated with short selling
, namely borrowing a stock for a period of time and selling it, with the intention of later buying back the shares at a lower price.
His two most famous short positions are Allied Capital
and Lehman Brothers
He is a critic of current investment-banking practices, saying they are incentivized to maximize employee compensation. He cites the statistic that investment banks pay out 50 percent of revenues as compensation, and higher leverage means more revenues, making this model inherently risky.
Einhorn was a... Read More