Einhorn Fooling Some of the People All of the Time, A Long Short (and Now Complete) Story, Updated with New Epilogue

1. Auflage 2008
ISBN: 978-0-470-37149-7
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 448 Seiten, E-Book

A revealing look at Wall Street, the financial media, andfinancial regulators by David Einhorn, the President of GreenlightCapital
Could 2008's credit crisis have been minimized or even avoided?In 2002, David Einhorn-one of the country's top investors-was askedat a charity investment conference to share his best investmentadvice. Short sell Allied Capital. At the time, Allied was a leaderin the private financing industry. Einhorn claimed Allied was usingquestionable accounting practices to prop itself up. Soundfamiliar? At the time of the original version of Fooling Some ofthe People All of the Time: A Long Short Story the outcome ofhis advice was unknown. Now, the story is complete and we knowEinhorn was right. In 2008, Einhorn advised the same conference toshort sell Lehman Brothers. And had the market been more open tohis warnings, yes, the market meltdown might have been avoided, orat least minimized.
* Details the gripping battle between Allied Capital andEinhorn's Greenlight Capital
* Illuminates how questionable company practices are maintainedand, 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 werereplayed in the debate over Lehman Brothers
Fooling Some of the People All of the Time is animportant call for effective government regulation, free speech,and fair play.

Autoren/Hrsg.

Einhorn, David

Weitere Mitwirkende

Greenblatt, Joel

Inhaltsverzeichnis

Foreword.
Acknowledgments.
Allied Capital Stock Price Chart.
Who's Who.
Introduction: The Spark of a Speech.
Part One: A Charity Case and Greenlight Capital.
Chapter 1 Before Greenlight.
Chapter 2 Getting the "Greenlight".
Chapter 3 Greenlight's Early Success.
Chapter 4 Value Investing through the Internet Bubble.
Chapter 5 Dissecting Allied Capital.
Part Two: Spinning So Fast Leaves Most People Dizzy.
Chapter 6 Allied Talks Back.
Chapter 7 Wall Street Analysts.
Chapter 8 The You-Have-Got-to-Be-Kidding-Me Method ofAccounting.
Chapter 9 Fact--Or Maybe Not.
Chapter 10 Business Loan Express.
Chapter 11 Disengaging and Re-engaging.
Chapter 12 Me or Your Lyin' Eyes?
Chapter 13 Debates and Manipulations.
Chapter 14 Rewarding Shareholders.
Chapter 15 BLX Is Worth What, Exactly?
Part Three: Would Somebody, Anybody, Wake Up?
Chapter 16 The Government Investigates.
Chapter 17 A Tough Morning.
Chapter 18 A Spinner, a Scribe, and a Scholar.
Chapter 19 Kroll Digs Deeper.
Chapter 20 Rousing the Authorities.
Chapter 21 A $9 Million Game of Three-Card Monte.
Part Four: How the System Works (and Doesn't).
Chapter 22 Hello, Who's There?
Chapter 23 Whistle-Blower.
Chapter 24 A Naked Attack.
Chapter 25 Another Loan Program, Another Fraud.
Chapter 26 The Smell of Politics.
Chapter 27 Insiders Getting the Money Out.
Part Five: Greenlight Was Right . . . Carry On.
Chapter 28 Charges and Denials.
Chapter 29 Charges and Admissions.
Chapter 30 Late Innings.
Chapter 31 The SEC Finds a Spot under the Rug.
Chapter 32 A Garden of Weeds.
Chapter 33 A Conviction, a Hearing, and a Dismissal.
Chapter 34 Blind Men, Elephants, Möbius Strips, and MoralHazards.
Glossary.
About the Author.
Index.

Über Autor(innen)

DAVID EINHORN is the president of Greenlight Capital, which he cofounded in January 1996. Greenlight Capital is a value-oriented investment advisor whose goal is to achieve high absolute rates of return while minimizing the risk of capital loss. Einhorn is the Chairman of Board of Greenlight Capital RE and also serves on the boards of Hillel; The Michael J. Fox Foundation for Parkinson's Research; and of the Robin Hood Foundation.