The LSE Directory / Hedge fund managers
David Einhorn (born 1968) is the founder and president of Greenlight Capital, a value-oriented long/short hedge fund he launched in 1996 with $900,000 in capital. Einhorn became nationally prominent in May 2008 when he publicly presented a bearish thesis on Lehman Brothers at the Ira Sohn Investment Conference, months before the investment bank's catastrophic collapse in September 2008. His earlier activism against Allied Capital, beginning in 2002 and documented in his book 'Fooling Some of the People All of the Time' (2008), established him as a short-seller willing to confront powerful institutions publicly. Greenlight Capital has historically had a strong long/short value investing track record, though the fund suffered from a difficult stretch from approximately 2015 to 2020 as growth stocks outperformed value. Einhorn has been a prominent critic of passive investing and what he calls the disconnect between value and market price in modern markets. He is also a professional poker player, having finished 18th in the World Series of Poker Main Event in 2006.
