(Bloomberg) David Einhorn’s main hedge fund at Greenlight Capital fell 7.7 percent in June, bringing losses for the first half of this year to almost 19 percent, according to a client update seen by Bloomberg. His value-investing strategy fell well short of U.S. stock market returns, as the S&P 500 Index has handed investors about 2.6 percent this year, including reinvested dividends. The HFRX Global Hedge Fund Index, an early indicator of industry performance, declined about 1 percent in the period. Hedge Fund Research Inc.’s Fundamental Value Index, which measures value strategies among equity hedge funds, gained 1.8 percent in the first five months of the year.
Einhorn Deepens Slide as Greenlight Plunges 19% in First Half
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