Value investor David Einhorn (Trades, Portfolio) has an impressive track record when it comes to beating the stock market. His hedge fund, Greenlight Capital, has generated 12.7% annualized returns since inception in May 1996, net of fees and expenses. Over the same time frame, the S&P 500 has returned around 10% annually. Like many value investors, the hedge fund manager had a disappointing year in 2019. In a year where the S&P 500 added around 30%, Greenlight Capital rose just 13.8%. Greenlight's long positions gained 37.4%, while its short positions detracted 20.1% from the performance.