David Einhorn’s 2018 Letter: Nothing Went Right the Entire Year

2018 loss of -34.2% vs. S&P 500 of -4.4% Since inception, returned 1,367% cumulatively or 12.6% annualized Given the valuations and fundamentals of our 5% or larger positions, we believe they should all do better in 2019 AerCap (AER) – Long 5.8x P/E on 2018 estimates, 65% of book value Leases new and mid-life airplanes […]

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