By NEW YORK (Reuters) - David Einhorn, head of hedge fund Greenlight Capital, said on Tuesday that he remains bullish on gold and that General Motors (>> General Motors Company) will see higher earnings growth.
In a conference call for his Cayman Islands-based reinsurer Greenlight Capital Re Ltd (>> Greenlight Capital Re, Ltd.), Einhorn said his bullish view toward gold "has not changed" and that his investment portfolio has an equal exposure to gold miners and gold bullion. He said the position was not hedged.
Einhorn also said GM is "poised for rapid earnings growth." He added that he still likes Apple Inc (>> Apple Inc.) and remains committed to his short bet against Green Mountain Coffee Roasters Inc (>> Green Mountain Coffee Roasters Inc.).
The $8 billion hedge fund Greenlight Capital owned about 2.4 million shares of Apple at the end of the first quarter.
Einhorn's reinsurer, with over $2.75 billion in assets as of June 30, reported a net investment gain of 2 percent in the second quarter, compared with a net investment loss of 3.3 percent in the second quarter of 2012.
The reinsurer's investment portfolio gained 7.9 percent in the first six months of 2013.
(Reporting by Sam Forgione; Editing by James Dalgleish and John Wallace)
By Sam Forgione
