April 3, 2018 / 5:30 PM / 3 months ago

Einhorn says Greenlight off 13.6 pct in Q1, predicts recovery

BOSTON, April 3 (Reuters) - Billionaire investor David Einhorn told clients on Tuesday that his Greenlight Capital has lost 13.6 percent this year but said he is confident his portfolio can recover.

"Despite recent results, our portfolio should perform well over time," Einhorn, one of the hedge fund industry's most closely watched investors, wrote in a letter to investors dated April 3. Reuters saw a copy of the letter.

Einhorn said there were not obvious explanations for the losses, writing "No events or individual positions stand out." (Reporting by Svea Herbst-Bayliss; Editing by David Gregorio)

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