如今的Greenlight如何？
总是会尊重Einhorn作为投资者，他很棒。Greenlight曾经是传奇人物，2014年的AUM为120亿美元，但在2018年为55亿美元，今天为16亿美元。Greenlight是否仍然被视为精英/顶级基金，您会在那里工作吗？有人对他们的投资过程，文化，补偿，营业额等有任何见解吗？您认为他们可以将其恢复到11人物AUM吗？
I feel like some people may draw comparisons to Pershing Square & Glenview in a sense that they have "slumped a little", but the reality is that Pershing Square puts up phenomenal numbers, and Glenview & Pershing are still in the 11 figure AUM range...Greenlight is well below that now. Would appreciate any insights/comments you may have
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Why would anyone want to work at a fund that has AUM declining 90% over the last 5-7 years? In what world is a company with revenue declining at such a rate considered attractive?
Seems fair at more senior levels. At junior levels, it's a lot of kids trying to break in and learning from investors with far more experience than they have. Learning exp from Greenlight is possibly still top-tier.
It's a bit of laughingstock. Seems like there's one or two headlines every year on bloomberg about Einhorn trying to explain away his latest underperformance.
Use some critical thinking - how can a fund where essentially all the outside capital is gone (most of what's left is probably his own money), no new investors are interested in giving them capital, and returns have been nothing short of abysmal be viewed as a "top tier" fund? Not to mention the guy was the public face of arguably the worst high profile trade of all time (shorting Tesla for years).
You can't eat prestige
Pershing Square was sucking wind for years until COVID hit and Ackman fear-mongered all over CNBC with "hell is coming" for his short hedges to pay off. I won't argue his brilliance in that, but putting up "phenomenal numbers" is not what Pershing Square was doing in recent history.
Not sure why people love to hate on Ackman here. Does he have a big personality and is a bit of a baby? Sure. Did he have a horrific 2015-2017? Yes (HLF and VRX). But his LT track record is still respectable, and he's pretty transparent as far as making himself accessible and putting out literature / interviews that all of us can gain some sort of insight from (even if we disagree with his views - one exception being Betting on Zero which was awful). That's frankly what I give him the most credit for, even if he benefits from the publicity. Given his concentration, he's a boom or bust manager and nobody is heralding him for some sophisticated risk management process. Just think respect is due for what he is.
In terms of his hedge, I would read the response he put out last March re: people claiming he was market manipulating:https://assets.pershingsquareholdings.com/2020/03/26222617/PERSHING-SQUH
I'm not hating on Ackman (maybe others onWSOare) just pointing out that phenomenal numbers isn't an accurate representation of what his fund has been doing in recent years. I respect his acumen, his fund, his performance and agree with you that credit is warranted for lots of what he does. I've read that response as well and there's a great interview (will find and edit this post) where he discussed it at length.
Apparently his niece or daughter is hot, can't remember which. Source: friend piped.
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