Fooling some of the people all of the time
Subtitle: a long short (and now complete) story
By: David Einhorn ; foreword by Joel Greenblatt
Edition: [Pbk. ed.].
Publisher: Wiley
Published: 2011
Place of publication: Hoboken, NJ
Language: eng
Number of pages: 426
ISBN-13: 9780470481547
Subjects: Management; Hedge funds; Accounting; Evaluation; Small business investment companies; Allied Capital
Description: How far will some unscrupulous companies go to keep the truth about their dealings from the American investor? Farther than the eye can see, according to this account by Einhorn, the founder of Greenlight Capital, a long-short value-oriented hedge fund. Einhorn's firm has achieved greater than a 25 percent annualized net return for its investors since 1996, proof that Einhorn can literally put his money where his mouth is. At a charity investment conference he did just that, and told the world he had become alarmed by the practices of Allied Capital and had sold it short. The result was near-chaos for Allied, but its minions retaliated through powerful connections in Washington, resulting in Einhorn being investigated by the SEC. In the meantime, Allied continues on, making Einhorn the target of its anger.
Notes: Includes index.

"Updated with a new epilogue"--Cover.

Previous edition: 2008.
Table of contents: title: A charity case and Greenlight Capital; title: Before Greenlight; title: Getting the "Greenlight"; title: Greenlight's early success; title: Value investing through the internet bubble; title: Dissecting Allied Capital; title: Spinning so fast leaves most people dizzy; title: Allied talks back; title: Wall Street analysts; title: The you-have-got-to-be-kidding-me method of accounting; title: Fact, or maybe not; title: Business loan express; title: Disengaging and re-engaging; title: Me or your lyin' eyes?; title: Debates and manipulations; title: Rewarding shareholders; title: BLX is worth what, exactly?; title: Would somebody, anybody, wake up?; title: The government investigates; title: A tough morning; title: A spinner, a scribe, and a scholar; title: Kroll digs deeper; title: Rousing the authorities; title: A $9 million game of Three-card Monte; title: How the system works (and doesn't); title: Hello, who's there?; title: Whistle-blower; title: A naked attack; title: Another loan program, another fraud; title: The smell of politics; title: Insiders getting the money out; title: Greenlight was right ... carry on; title: Charges and denials; title: Charges and admissions; title: Late innings; title: The SEC finds a spot under the rug; title: A garden of weeds; title: A conviction, a hearing, and a dismissal; title: Blind men, elephants, Möbius strips, and moral hazards; title: Epilogue; title: Looking back: as the story continued; title: The Lehman Brothers saga; title: If they asked me, I could write a book; title: Just put your lips together and blow; title: Some final words to and from the SEC; title: The last word.