Kingdon, Einhorn Bets on Renewable Energy Get Jolt in Obama Plan

(Bloomberg) Just a few weeks after telling investors it’s time to cut bets on crude oil, Kingdon Capital Management looks like a seer, thanks to President Barack Obama’s plan to cut carbon emissions.

Kingdon, the hedge fund firm that generated a 13.4 percent gain in the year’s first half, boosted investments in solar companies, it wrote in a July 20 letter. David Einhorn, the president of Greenlight Capital Inc., also may see benefits: In October, he recommended buying renewable power company SunEdison Inc. as his firm built a stake that ranked as its third-largest U.S. public equity holding by the end of March.

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