Reuters/ Mike SegarDavid Einhorn’s Q1 letter to investors is out, and he says that he got a big boost from the weakening yen, reports Bloomberg.
What’s more, he says Apple took a “step forward” and that he’s adding to his bet.
Einhorn’s hedge fund, Greenlight Capital, owned $1.5 million shares of Apple at the end of Q4 2012 and he was very public about desire to get the company to issue preferred stock (you can check out his presentation about it here).
He even sued Apple over the matter but dropped the lawsuit eventually.
As for the yen, Einhorn isn’t the only one who’s been playing in Japan. Dan Loeb of Third Point Partners said that Japanese Macro was his 2nd biggest trade for the month of April in his latest letter. Third Point is up 10.5% YTD.