David Einhorn recently updated his thriller “Fooling Some of the People All of the Time, A Long Short (and Now Complete) Story, Updated with New Epilogue”.
DAVID EINHORN is president and co-founder of Greenlight Capital, a long-short value-oriented hedge fund, which started with $1 million under management in 1996. Over the ensuing years, Greenlight has generated greater than a 21% annualized net return for its partners.
Einhorn’s FOF Re-positions Portfolio, Makes New Seed Investment In Year Marked By “Speculative Exuberance”
It has not just been rough year for David Einhorn's own fund. Einhorn's Greenlight Masters fund of hedge funds was down 3% net for the first half of 2020, matching the S&P 500's return for those six months. In his August letter to investors, which was reviewed by ValueWalk, the Greenlight Masters team noted that Read More
The book talks about the early history of Einhorn’s hedge fund Greenlight Capital and then focuses on his short of Allied Capital (the company was bought out during the financial crisis for close to a dollar). The company was engaging in fraud and Einhorn did extensive research to discover the fraud. In short the company was valuing assets in violation of GAAP standards by picking whatever numbers management decided the company was worth. He also shorted Lehman Brothers in 2007 and we all know the end of that.
Einhorn has been going on a publicity tour to promote the book. Einhorn is not doing this for money; all proceeds from sales of the book are going to charity. He recently had some excellent interviews with Consuelo Mack and . Recently,
I will be doing a formal review on the book in a couple of weeks. I am in the middle of reading it, I know it sounds elementary but the only way I could describe the book is “it is really really good”.
Below are two of the latest interviews; one with the Motley Fool here-
A Foolish Interview With David Einhorn and the other with King World News.
Eric King of King World News just conducted the interview a few days ago. http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/1/11_David_Einhorn_files/David%20Einhorn%201:11:2011.mp3.