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Actionable news in KORS: MICHAEL KORS HOLDINGS LIMITED,

UPDATE 1-Einhorn's Greenlight takes new long positions, exits some shorts -letter

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By Svea Herbst-Bayliss and Jennifer Ablan

Oct 21 (Reuters) - Billionaire investor David Einhorn, whose Greenlight Capital hedge fund is nursing a 17 percent loss this year, told investors on Wednesday that he made new bets on fashion company Michael Kors and electric services company UIL Holding.

Einhorn also exited a prominent short bet against real estate company St. Joe as well as bets against U.S. Steel, Robert Half and Intel. The firm also liquidated stakes in LAM Research and Citizens Financial Group.

In his eight-page long letter, Einhorn also reminded investors that he often invests in misunderstood companies and runs a concentrated portfolio, which means that market downdrafts can hurt performance.

"Although large losses don't...


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