David Einhorn Killed It In 2009, And Is Still Bullish On Gold

Marketfolly got a hold of the letter David Einhorn sent to investors on Tuesday.

Greenlight's various hedge funds were up 36.9%, 33.7%, and 30.6% in 2009, much thanks to the big earner for Greenlight in the fourth quarter, CIT. Their investment gained 30% as CIT executed a reorganization plan in 40 days, says the letter.

The letter also says the fund will maintain their long position in gold and also stay short in Moody's, despite its having been a loser for Greenlight in the fourth quarter. He thinks in the long run things will turn around. But the hedge fund manager has less hope for some other investments.....
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