Letter obtained by RTRS

One of the world's great hedge fund managers had a dreadful start to the year. David Einhorn is a billionaire and manages about $10 billion at Greenlight.

As for what's next, the fund says it exited positions in Chemours and Uniper while bailing on shorts against United Rentals and Hexagon. Recent reports suggest Greenlight has bought more shares of GM.

Last year Einhorn's fund gained 1.6%.