David Einhorn started his career with the hedge fund Siegler, Collery & Co. in 1993. In 1996, Einhorn founded Greenlight Capital Inc. with Jeffrey Keswin. The firm began with less than $1 million, and as of 2017, the firm had close to $10 billion assets under management. However, as of July 2018, after more than ten years of winning on Wall Street, investors estimate that Greenlight Capital has shrunk to about $5.5 billion in assets under management, reported The Wall Street Journal. Frustrated clients are pulling their investments from the firm.
Greenlight Capital uses the long-short equity strategy. Long-short equity is an investing strategy which takes long positions in stocks that are expected to appreciate and short positions in stocks that are expected to decline.
The firm implements the long and short position strategy depending on whether an asset has been pinned as undervalued or overvalued. Einhorn himself is best known for his short selling strategies, though he works with long positions as well.
