Fooling Some of the People All of the Time, A Long Short Story

Einhorn, David; Greenblatt, Joel [Foreword]

ISBN 10: 0470073942 / ISBN 13: 9780470073940

Published by Wiley, 2008

Seller Inventory # 0470073942-4-26137013

Synopsis:

A revealing look at Wall Street, the financial media, and financial regulators by David Einhorn, the President of Greenlight Capital

Could 2008's credit crisis have been minimized or even avoided? In 2002, David Einhorn-one of the country's top investors-was asked at a charity investment conference to share his best investment advice. Short sell Allied Capital. At the time, Allied was a leader in the private financing industry. Einhorn claimed Allied was using questionable accounting practices to prop itself up. Sound familiar? At the time of the original version of Fooling Some of the People All of the Time: A Long Short Story the outcome of his advice was unknown. Now, the story is complete and we know Einhorn was right. In 2008, Einhorn advised the same conference to short sell Lehman Brothers. And had the market been more open to his warnings, yes, the market meltdown might have been avoided, or at least minimized.

• Details the gripping battle between Allied Capital and Einhorn's Greenlight Capital
• Illuminates how questionable company practices are maintained and, at times, even protected by Wall Street
• Describes the failings of investment banks, analysts, journalists, and government regulators
• Describes how many parts of the Allied Capital story were replayed in the debate over Lehman Brothers

Fooling Some of the People All of the Time is an important call for effective government regulation, free speech, and fair play.

About the Author: DAVID EINHORN is the President and 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 twenty-five percent annualized net return for its partners. Einhorn is the Chairman of Greenlight Capital Re, Ltd. (Nasdaq: GLRE) and serves on the boards of the Michael J. Fox Foundation for Parkinson's Research and Hillel: The Foundation for Jewish Campus Life. Einhorn has pledged his entire personal share of the profits from Greenlight's short-sale of Allied and this book to charity.

Bibliographic Details

Title: Fooling Some of the People All of the Time, ...
Publisher: Wiley
Publication Date: 2008
Binding: Hardcover
Condition: Fair