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A Hedge Fund's GM Plan Gives Hedge Funds a Bad Name

by bloomberg.com posted 1year ago 243 views
What exactly is the purpose of GM? If your answer is "to manufacture and sell automobiles" then you obviously haven't been listening to David Einhorn, whose hedge fund, Greenlight Capital Inc., owns 13.2 million shares (0.88 percent) of the company's stock, according to Bloomberg. In Einhorn's view, it would appear, General Motors Co. exists to "unlock value" for shareholders like himself, while getting its dividend to be "respected by the market."

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