CORRECTED-Einhorn shorts iron ore sector, still likes Apple, Marvell
(Corrects Apple ticker symbol)
Jan 23 (Reuters) - Hedge fund manager David Einhorn, who delivered what he called "pedestrian" returns of 8 percent last year, said that he is bearish on iron ore and is now shorting some companies in the sector.
In a letter to investors, Einhorn, whose moves are closely watched in the markets, said he feels that supply is now exceeding demand in the iron ore sector. He did not name the companies that he is shorting or betting against.
He also said he bought back shares in Apple Inc, using the lower prices after the stock stumbled to make those moves. He also still likes Marvell Technology Group Ltd , the fund's biggest losing position in 2012. (Reporting By Svea Herbst-Bayliss; Editing by Gerald E. McCormick)
- White House reverses, says Obama met uncle and lived with him during law school
- South Africa mourns Mandela, will bury him on December 15 |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Ford leans on global Mustang to burnish overseas image