Einhorn’s Losing Gold-Miner Strategy Endorsed: Chart of the Day
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David Einhorn’s Greenlight Capital Inc. suffered in the past year by favoring gold-mining stocks over the precious metal, a strategy that Scotia Capital Inc. recommended last week.
As the CHART OF THE DAY illustrates, two exchange-traded funds that Greenlight was buying in the third quarter of last year have declined since Sept. 30, 2011. Gold has risen about 9 percent during the same period in New York trading. Einhorn declined to comment on the performance.