 | Fooling Some of the People All of the Time, a Long Short (and Now Complete) Story, Updated with New Epilogue 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 BrothersFooling Some of the People All of the Time is an important call for effective government regulation, free speech, and fair play. David Einhorn is the President of Greenlight Capital. He is also a major contributor and board member of The Michael J. Fox Foundation. In 2006, Einhorn finished 18th in the World Series of Poker main event and donated his entire winnings of $659,730 to the foundation. Einhorn was born in 1968. He lives in Westchester County, NY, with his wife, two daughters and son. He graduated summa cum laude from Cornell University, where he earned a BA in Government from the College of Arts and Sciences in 1991. (Bowker Author Biography) |
