Greenlight Bet on Oil Drop After PointState Presentation
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David Einhorn’s $10 billion Greenlight Capital said it bet that oil prices would fall after listening to a presentation by fellow hedge fund manager Zach Schreiber.
Greenlight reviewed its oil positions after Schreiber, founder of PointState Capital, gave a presentation at last year’s Sohn Investment Conference, where he predicted a sharp decline in prices for West Texas Intermediate, Einhorn’s New York-based firm wrote in a letter to investors today.