Einhorn Warns “This may rank among the most perilous times, absent war, in modern American history” (Q3 Letter)

David Einhorn’s Q3 2020 letter to investors.Dear Partner:The Greenlight Capital funds (the “Partnerships”) returned 5.9%1 in the third quarter compared to 8.9% for the S&P 500 index.We have always ended our quarterly letters with a quote that may or may not have something to do with the rest of the letter. This quarter, we start with one from Marcus Aurelius:The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.The coming elect ion will settle (or attempt to settle) which side is in the majorit y. This may rank among the most peri…

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HEDGE accordingly