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’[SFTW] Winner takes all…
It’s been a gruesome week in the mobile phone market. The almost embarrassing dominance of Apple (ideas for spending $90bn of spare cash, anyone?) provided a cruel contrast to the desperate plight of the opposition.
FSA fines Einhorn
Or, the UK’s FSA slaps a £7.2m fine on David Einhorn and Greenlight Capital over trading in Punch Taverns shares in 2009. First, the case from the FSA:
On 9 June 2009, Einhorn was a party to a telephone conference in which it was disclosed to him by a corporate broker acting on behalf of Punch Taverns Plc that Punch was at an advanced stage of the process towards a significant equity fundraising.
Einhorn: Wake up and short the Green Mountain Coffee
It’s not quite as bad as the New York Mets but after David Einhorn announced Monday he was shorting Green Mountain Coffee, the firm took a roasting:
The price of the erstwhile hedgie favourite has risen from $29.02 a year ago.
Einhorn v Lehman, congressional hearings edition
Chazzer Gasparino seems to be settling into his new role at Fox Business News quite nicely, with what appears to be a slightly speculative scoop about David Einhorn and Lehman Brothers.
As Gasparino reported on the Fox Business website (emphasis ours):
David Einhorn vs the bloggers on credit default swaps
On Friday, the FT published a piece detailing David Einhorn’s objections to credit default swaps, which he first raised in a recent letter to investors.
And by objections, we mean the boy-genius founder of Greenlight Capital thinks the instruments which have served him so profitably ought to be banned outright.
Japan, Einhorn and ‘tontine’ fantasies
Just about “everyone and their uncle” seems to be shorting Japanese government bonds at the moment, notes Louis-Vincent Gave in the latest note from the asset allocation and research house Gavekal.
Friends on trading desks call it the “Einhorn Effect”,
Einhorn, unsmoked
We might have expected David Einhorn’s Greenlight Capital to have suffered terribly during the recent equity rally.
But no! Mr Einhorn might scold the Obama administration for pursuing “short-term popularity over our solvency”
Greenlight’s Einhorn shorts Moody’s
Shares of Moody’s fell sharply on Thursday after hedge fund manager David Einhorn, who correctly questioned the health of Lehman Brothers four months before its collapse, disclosed he was shorting the ratings agency,
The curse of the AAA
This time last year, David Einhorn – the hedge fund manager behind Greenlight Capital – took to the stage at the Ira W Sohn Investment Research Conference in New York and in a rather forceful speech – even by activist standards – announced that he was shorting Lehman Brothers and that the firm was indeed,
Hedge funds turn to gold
Hedge fund investors who made money last year by betting against investment banks are now buying gold as a way of betting against central banks. The gold bulls include David Einhorn, founder of hedge fund Greenlight Capital,
Fuld: Lehman victim of short sellers
The short sellers did it, Richard Fuld, former Lehman Brothers chief executive, said in testimony to a Congressional committee on Monday. In an extraordinary public autopsy into the biggest bankruptcy in US history,
Another one off the list…
David Einhorn’s Greenlight Capital has opted off the SEC’s no-short list.
Here’s the Nasdaq statement. HT Naked Shorts.
The following NASDAQ-listed company has been voluntarily removed from the SEC’s original list of Included Financial Firms:
A good summer for David Einhorn
Also known as: “Would a short-selling ban have saved Lehman?”
The outspoken hedgie David Einhorn would have made a killing from his bets against Lehman Bros this summer. He first announced his position in April,
Natixis, Na-tast-ic
Is it a case of “anything you can do, I can do worse better” at Natixis?
The French bank, which needs to replenish capital after about €3bn worth of subprime-related writedowns, said today it will go ahead with its planned rights issue.
From the desk of David Einhorn (When rights issues aren’t so good)
Hedge fund manager David Einhorn of Greenlight Capital is best known (now) as the prolific shorter of Lehman Brothers.
His very public evisceration of the bank in May sparked huge falls in its share price.
Activist manager steps down from New Century’s board
Amid an implosion in the subprime mortgage market, David Einhorn, the hedge fund manager who runs Greenlight Capital, is resigning from the board of New Century Financial, reports Dealbook. The company,
Allied quizzed on private calls
Allied Capital, a business lending group locked in a bitter battle with a hedge fund, said that federal prosecutors have asked for information on how it obtained private phone records from the hedge fund’s president.