Greenlight Capital has faced significant underperformance compared to major market benchmarks, attributing this not just to market conditions but to inflated stock valuations across the board.
In its second-quarter letter, Greenlight expresses a lack of optimism for the upcoming quarter, acknowledging likely continued underperformance in a rising market while being wary of further losses.
The firm highlights the current market as historically expensive, observing high valuations extending beyond tech stocks to include many mature industrial companies, making investment challenging.
Greenlight notes Warren Buffett's strategic cash-out as a signal pointing to market overvaluation, hinting that even seasoned investors are cautious amid the bullish trend.
Collection
[
|
...
]