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GLRE

Greenlight Capital Re, Ltd.

6/18/2013, 6:13 PM ET

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Tuesday, May 7, 11:39 AM The bounce in precious metals takes a breather, with gold (GLD) off 1.6% and silver (SLV) off 1.2%. It's more tough news for John Paulson after his gold fund reportedly lost 27% in April, bringing the YTD loss to about 47%. Add David Einhorn to those taking a hit: "We were somewhat surprised by the swift decline," he said on the GLRE earnings call (transcript), especially given the BOJ's joining in "the global monetary printing race." Einhorn sees nothing to change his long-term bullish stance. 9 Comments [Commodities, Financials]
Monday, May 6, 6:21 PM Greenlight Capital Re (GLRE): Q1 EPS of $1.52 misses by $0.38. Revenue of $171M misses by $4.75M. (PR) Comment! [Earnings, Breaking News, Financials]
Wednesday, February 20, 10:57 AM More from the Greenlight Re (GLRE) earnings call: Einhorn takes advantage of solid January gains in the investment portfolio, lowering net long exposure to 29% from 39%. "Earnings growth has come to a halt. As the markets continue to advance even as the economy doesn't, we tend to become less enthusiastic." Comment! [Financials]
Wednesday, February 20, 10:41 AM Greenlight Capital Re (GLRE -0.9%) slides after a Q4 loss of $1.65/share - losses came from both underwriting and the investment portfolio. Book value of $22.01/share, -6.6% Q/Q, +1.9% Y/Y. "The reinsurance market remained challenging during 2012. In general, the market remains overcapitalized and there is a high degree of competition." (PR) Comment! [Financials]
Wednesday, February 20, 10:30 AM David Einhorn re-confirms his shorts in McGraw-Hill (MHP) and Moody's (MCO), saying the DOJ suit against S&P shows the companies' vulnerability. Speaking on the Greenlight Capital Re (GLRE) earnings call, Einhorn tells listeners Moody's was his biggest loser on the short side last year. Comment! [Financials]
Wednesday, January 23, 12:16 PM A rough Q4 (-4.9%) brings Greenlight Capital's 2012 gain down to 7.9%. Among existing positions, Einhorn continues to like a big winner - GM - saying the company has substantial excess capital even after its big purchase from the government. He also adds to a big loser - Marvel (MRVL) - calling the $1B verdict against it "a novel interpretation of the law by a local judge, combined with a hometown runaway jury ... MRVL is on the cusp of a large product transition which, to put it mildly, is not in the valuation." 1 Comment [Financials, Quick Ideas]
Tuesday, July 24, 2012, 11:37 AM Seeing "unpriced upside in the possibility that the election changes the political landscape," David Einhorn's Greenlight Capital initiates positions in Cigna (CI) and Coventry Health Care (CVH). The fund has given up on DELL and Best Buy (BBY). Comment! [Quick Ideas, Healthcare, Tech, Consumer]
Thursday, May 3, 2012, 2:56 PM David Einhorn's Greenlight Capital reveals a 5.5% stake in recently gone public Oaktree Capital (OAK), the investment management firm run by Howard Marks. The Oaktree IPO wasn't a roaring success and the shares have had a tough time since. Comment! [Financials]
Wednesday, January 18, 2012, 11:26 AM More from Einhorn (full letter here): First Solar (FSLR +5%) is rallying, helped by news Greenlight has covered its short (and the firm's biggest 2011 winner) after riding the stock down from $130 to $34. (previous) Comment! [Energy, On the Move]
Tuesday, December 20, 2011, 3:22 PM It's 2 months, an earnings report, an audit committee investigation, and a host of insider buying since David Einhorn (GLRE) revealed his bearish thesis on Green Mountain Coffee (GMCR), and the hedge fund manager remains as convinced as ever about his position. "You have a team (that's sold) stock in the hundreds of millions ... buying back in the hundreds of thousands." Comment! [Consumer]
Thursday, September 1, 2011, 10:36 AM Rich Sandomir of the NYT reports the deal for David Einhorn (GLRE) to purchase a minority stake in the NY Mets is "dead." Comment!
Thursday, August 18, 2011, 11:32 AM The turmoil in markets is sure to leave behind some tasty values. It's never been so cheap to let David Einhorn do the picking for you. Greenlight RE (GLRE) - a reinsurer where Einhorn is in charge of investing the float - trades at just a hair over book value, writes Thomas Lott. Comment! [Quick Ideas]
Monday, December 27, 2010, 1:52 PM "The crisis has passed," says Greenlight's (GLRE) David Einhorn explaining the need for higher money rates. By holding rates so low for so long, the Fed encourages over-borrowing, especially by the government, setting the stage for another crisis when rates do rise. 1 Comment [Global & FX]