Greenlight Capital Invest in Yelp and Natural Gas; Exits Greek Banks and Delta Lloyd

Greenlight Capital Invest in Yelp and Natural Gas; Exits Greek Banks and Delta L

David Einhorn, the hedge fund manager who started Greenlight Capital in 1996 and heads it till date is extensively followed by the hedge fund industry.  His letters considered by many as a source for hints for new and thriving investment trends.

On Monday, Einhorn told investors about his new investments in San Francisco, California based Yelp Inc and natural gas business. H also mentioned that he has exited from shares in Greek banks and Dutch insurer, Delta Lloyd, the financial services company with "almost a complete loss."

 

According to Einhorn Yelp has the potential to twofold its revenue by 2019. The news gave a push to the stocks of Yelp taking it higher by greater than five percent during the after-hours trading.

In a letter, the fund wrote that stocks of Yelp "suffered due to missed expectations and anxiety about an upcoming negative documentary." It also added that it does not expect the documentary to have any downbeat impact on its investment notion. The hedge fund also said, in case Yelp ever decided to sell itself, there will a bidding war. Referring to Greenlight Capital's own one to five star rating systems, Einhorn wrote "We rate them five stars."

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