Comments
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JSVery difficult to see this trade working if the yield curve doesn’t continue to flatten. The entire US life space is completely oversold and any pick up in US 10yr yields and/or the absence of LTC or mortality blowups at 2q will see the space squeezing in my view.
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NI@Valeriy - yes, Greenlight has a big position in BHF. The last 13-F shows 11,040,000 shares which I believe to be their #2 holding. It's risky to bet against Einhorn, but then again if the broad market were to decline you probably enjoy concentrated aggressive selling. Greenlight obviously sees hidden value.
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LTGood idea!
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VSIsn't it like biggest long of David Einhorn?
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JVInteresting idea. Thanks, Jeremy. It's great to see a wide variety of quality analysts contributing their research and actionable ideas. Keep them coming!