Thursday, May 2, 2013

Einhorn is gored by gold


From the NY Post: Gold is one of David Einhorn’s top six holdings; the billionaire even stores gold bullion in a secure site in Queens. But the downdraft in gold — which fell 8 percent for the month — put his Greenlight Capital fund in the red, down 0.6 percent. That’s despite solid gains in his top stock positions like General Motors, Cigna and Vodafone. Even Apple — possibly his largest holding — was up 0.38 percent.

Gold has bounced back from its 9 percent drop on April 15, to $1,361 an ounce in New York. It closed yesterday at $1,457.80, still down 13 percent for the year….

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