David Einhorn Sells Fannie Mae, Bets On Commodities To Beat Biden Driven Inflation
David Einhorn’s Greenlight Capital has made some big changes in Fannie Mae holdings. In his Q2 2021 letter to investors (full copy of Greenlight’s investor letter can be found here), Einhorn states: Q2 2021 hedge fund letters, conferences and more During the quarter, we had a loss in the preferred stocks of Fannie Mae and Freddie Mac (“GSE preferreds”). We had bought them in 2014, partially hedged by shorting common stock. Our thesis was that we could do well if the companies were recapitalized and released from conservatorship, and that shareholders had valuable claims against the U.S. govern...