GLRE: Einhorn's Greenlight Capital Re stock still falling after reporting a loss in recent quarter. Guy's supposed to be a hot-shot hedgefund manager whose stock opinions are eagerly sought (ref Sohn Conf)?
Discouraging, I guess, to see a loss being reported with his GLRE.
I'll initiate a tracking position here, maybe add more later. Einhorn (and/or his surrogates here) are talented, diligent and apparently hard-working. They may yet find good stock ideas that benefit GLRE. One or two bad quarters is maybe too soon to dismiss what the company might do going forward. The stock's now somewhat below what has been generally growing stated book value. That gives me some comfort, if not some margin of safety. If GLRE team are gunslingers vs. conservative insurers though, then any reliance on stated bv could be dangerous.
finance.yahoo.com
GRAND CAYMAN, Cayman Islands, May 4, 2015 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (GLRE) today announced financial results for the first quarter ended March 31, 2015. Greenlight Re reported a net loss of $24.0 million for the first quarter of 2015, compared to a net loss of $8.9 million for the same period in 2014. The net loss per share for the first quarter of 2015 was $0.65, compared to a net loss per share of $0.24 for the same period in 2014.Fully diluted adjusted book value per share was $30.09 as of March 31, 2015, a 9.0% increase from $27.61 per share as of March 31, 2014. |
