Hedge fund billionaire David Einhorn's bad start to the year has gotten worse

David Einhorn


Greenlight Capital founder David Einhorn at the Sohn Investment Conference in New York City, May 8th, 2017

David Einhorn's bad start to 2018 keeps getting worse.

The Greenlight Capital (Gold), L.P. - Dollar fund, which roughly tracks the firm's flagship fund, dropped 5.7% in February, bringing year-to-date losses to 11.4%, according to a Greenlight client update seen by Business Insider that estimates the returns.

By comparison, the S&P 500 gained 0.67% over the same period, according to Markets Insider data.

Greenlight had already gotten off to a rough start to the year, with the same fund tumbling about 6% in January. The firm's flagship fund returned 1.6% last year after fees, compared with a 21.8% gain in the S&P 500, Business Insider previously reported.

Einhorn said on a conference call last week that Greenlight's performance was the worst since 2000, Bloomberg reported.

A Greenlight spokesman didn't immediately respond to a request for comment.

Greenlight managed $7 billion as of mid-year 2017, per the Absolute Return Billion Dollar Club ranking.

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