Wednesday, December 19, 2012

David Einhorn Nails It Again!




Hedge fund hot-shot David Einhorn, the founder of Greenlight Capital, has nailed it again.
This time it's with General Motors. Shares of GM were last trading up more than 7% following news that the car manufacturer said it would buy back 200 million shares from the Treasury for $27.50 each, or $5.5 billion, according to the Associated Press.

The government also plans to sell its 300 million shares starting in January, the AP reports.
As of the third quarter ended 9/30/2012, Greenlight held 21,528,063 shares, or a 1.38% stake, in GM, according to 13F data compiled by Bloomberg.  What's more is Greenlight had added 4,155,200 shares in Q3, the data shows….


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