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Greenlight, run by David Einhorn, told investors in a letter seen by Reuters on Monday that inflation may be “stickier” than the market is currently expecting.
“If we were ‘bearish’ until March and ‘neutral’ through June, we would now characterize ourselves as ‘worried,’ the letter said.
Greenlight, whose stock buys and musings on the economy are widely followed, gained 14.5% in the second quarter and was up 13.1% for the first half of 2023. The S&P 500 stock market gained 17% in the first half.
