Thomson Reuters
- "This period has not been like" any other quarters where Greenlight has faced greater than 5% loss, David Einhorn told clients in a letter seen by Business Insider.
- Greenlight is down 14% in the first quarter of 2018.
David Einhorn's Greenlight Capital is having a rough 2018 so far, and started out the latest client letter with an explanation.
"In our history, we've had five other quarters with a greater than 5% loss," Greenlight told clients in an April letter seen by Business Insider. "In four of those, there were clear world or market events that provided a simple explanation, and in one, a few positions in our portfolio went wrong at the same time. This period has not been like any of these."
Greenlight's flagship fund lost -13.6% in the first quarter of 2018, compared to the the S&P 500 index returning -0.8%.
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