David Einhorn’s Greenlight Capital hedge funds gained 8.4% in September, bringing average weighted returns for the year to 24%, the company reported. This according to a recent article in Bloomberg.

“Einhorn, who has remained committed to his strategy of buying beaten-down stocks while shorting growth companies, is in the midst of a resurgence following his worst year on record,”‘ the article  reports, adding that in 2018 his firm lost 34% in its main fund. That performance prompted Einhorn’s promise to make fewer, more concentrated investments, the article says.

“So-called value, or cheaper shares, outperformed growth stocks in the first two weeks of September amid rising bond yields and receding trade worries, reversing a trend that had been in place all year,” the article says, adding, “But the emergence of fresh geopolitical risk put an end to it.”