FXstreet

Greenlight Capital Re’s David Einhorn lamented a bum year in his shareholder letter for 2017 with an investing loss of 1.6% net of fees. He also announced the new lineup of stocks he selected during the fourth quarter: Twitter, Ensco and Time Warner.



First, Einhorn surprised investors by taking a long position in Twitter. As he acknowledged in the letter, he has been betting that certain stocks in the tech space will fail. These stocks, which he collectively calls the “bubble basket,” include Amazon, Netflix and Tesla.

Shares of social media site Twitter, which gives users 280 characters to express their thoughts and share news stories, shed more than a third of their market value since their January 2015 initial public offering, allowing Einhorn to nab them for a mere $21.59 each.

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