Money and Finance
- Far From Wall Street And Silicon Valley, A Focus On Family Ties
When the hedge fund manager David Einhorn was just another investment analyst in the mid-1990s, his family gave him $500,000 to get his fund, Greenlight Capital, off the ground. Now that he is a billionaire after a career of doing battle with large corporations,...
- David Einhorn: Hedge Funds Are Underweight Apple
David Einhorn still loves Apple Inc. In an investor letter, Einhorn’s Greenlight Capital once again defends its Apple investment, reiterating Apple is “one of the most misunderstood stocks in the market.” Einhorn notes some critics discredit Apple’s...
- Summary Of The First “invest For Kids” Conference In Chicago
Thanks to Steven for passing the article along.• David Einhorn, the head of Greenlight Capital and best known for making profitable bets against Lehman Brothers before its bankruptcy last year, urged buying Vodafone Group PLC because, he said, none...
- The Confidence Man
Six years ago, hedge-fund manager David Einhorn made a speech at an annual investment conference about a stock he didn’t like—a mid-cap financial company called Allied Capital—and the world came crashing down on top of him. He was investigated by...
- 17th Annual Graham & Dodd Breakfast
GREAT presentation by David Einhorn: - 17th Annual Graham & Dodd Breakfasta keynote address by: David Einhorn, President, Greenlight Capital“Fooling Some of the People All of the Time”October 19, 2007 ...
Money and Finance
An inside look at David Einhorn's "big short"
Hedge fund manager David Einhorn is taking an even harder line against Green Mountain Coffee Roasters (GMCR.O), his big short trade, claiming a recent audit committee review of the accounting issues he flagged is nothing more than a "whitewash."
In an exclusive interview with Reuters, Einhorn said he still doubts sales figures and spending plans at the company, which saw its stock soar to $110 in August on the rapid growth of its individual coffee servings or K-cups. When Einhorn revealed in October that he had been building a short position in shares of the company for weeks, the stock tanked and it effectively turned things around for his $8 billion Greenlight Capital fund this year.
"I think everything we said in the presentation is right now as it was then -- and in many cases even more so," said the 43-year-old manager, who runs one of $2 trillion hedge fund industry's better-known long/short funds and also is an accomplished poker player.
In the interview with Reuters, Einhorn blasted the company's audit committee for conducting a "whitewash" review of the concerns he raised in an October 17 presentation entitled, "GAAP-uccino." That presentation hit Green Mountain like a tidal wave, and has sliced the stock's value in half to around $46 as of Tuesday trading.
In an exclusive interview with Reuters, Einhorn said he still doubts sales figures and spending plans at the company, which saw its stock soar to $110 in August on the rapid growth of its individual coffee servings or K-cups. When Einhorn revealed in October that he had been building a short position in shares of the company for weeks, the stock tanked and it effectively turned things around for his $8 billion Greenlight Capital fund this year.
"I think everything we said in the presentation is right now as it was then -- and in many cases even more so," said the 43-year-old manager, who runs one of $2 trillion hedge fund industry's better-known long/short funds and also is an accomplished poker player.
In the interview with Reuters, Einhorn blasted the company's audit committee for conducting a "whitewash" review of the concerns he raised in an October 17 presentation entitled, "GAAP-uccino." That presentation hit Green Mountain like a tidal wave, and has sliced the stock's value in half to around $46 as of Tuesday trading.
- Far From Wall Street And Silicon Valley, A Focus On Family Ties
When the hedge fund manager David Einhorn was just another investment analyst in the mid-1990s, his family gave him $500,000 to get his fund, Greenlight Capital, off the ground. Now that he is a billionaire after a career of doing battle with large corporations,...
- David Einhorn: Hedge Funds Are Underweight Apple
David Einhorn still loves Apple Inc. In an investor letter, Einhorn’s Greenlight Capital once again defends its Apple investment, reiterating Apple is “one of the most misunderstood stocks in the market.” Einhorn notes some critics discredit Apple’s...
- Summary Of The First “invest For Kids” Conference In Chicago
Thanks to Steven for passing the article along.• David Einhorn, the head of Greenlight Capital and best known for making profitable bets against Lehman Brothers before its bankruptcy last year, urged buying Vodafone Group PLC because, he said, none...
- The Confidence Man
Six years ago, hedge-fund manager David Einhorn made a speech at an annual investment conference about a stock he didn’t like—a mid-cap financial company called Allied Capital—and the world came crashing down on top of him. He was investigated by...
- 17th Annual Graham & Dodd Breakfast
GREAT presentation by David Einhorn: - 17th Annual Graham & Dodd Breakfasta keynote address by: David Einhorn, President, Greenlight Capital“Fooling Some of the People All of the Time”October 19, 2007 ...