Einhorn talks gold on Greenlight Re earnings call

• Q1 net income of $28.7M or $0.77 per share vs a loss of $24M and $0.65 one year ago.
• Book value per share of $22.88 down 24% Y/Y. Current price is $21.45.
• Gross written premiums of $166.8M up from $129.7M a year ago. Underwriting income of $3.7M vs. $800K. Net investment income of $28.4M, or 2.5% gain vs. a loss of $24.8M, of 1.8%.
• Speaking on the conference call about one of his hedge fund's top five longs which had its best quarter since 1986, David Einhorn says "aggressive and counterproductive monetary policies are bullish for gold."
• He takes a shot at the Fed's so-called "data dependency," noting it doesn't appear to related to employment which continues to improve, nor to core inflation which is now running north of the 2% target. “We believe the increasingly adventurous monetary policy is bullish for gold."
• Previously: Greenlight Capital misses by $0.04, beats on revenue (May 2)
• GLRE -0.25%