The Traderszone Network

Published in TZ Latest News 4 August, 2015 by The TZ Newswire Staff

Einhorn faults unfavorable market conditions for worst month since ’08

Hedge fund manager David Einhorn affirmed his approach after July losses tied to Consol Energy Inc., SunEdison Inc. and gold fueled his worst monthly performance since 2008. “The overall market environment has become acutely unfavorable for our investment strategy,” Einhorn said Tuesday in a conference call discussing results at Greenlight Capital Re Ltd., the reinsurer where he is chairman. Einhorn said the investment portfolio dropped about 5.9 percent in July and that losses were broad-based.