http://www.nytimes.com/2008/06/04/business/04lehman.html?_r=1&ref=business&oref=slogin Methinks this guys a wild card.
I don't find anything fishy about him? He's talking his short book, what's wrong with that. Why can Warren Buffet talk his long book and Einhorn can't do the opposite?
cause its a lot easier to scare something to death than to bring it back from the dead with happy talk. kapish?
Spreading rumors ("DUDE GET OUT THEY'RE GOING BANKRUPT") is one thing. Simply saying one is short a certain stock/long their CDS because the company will likely have to raise more capital and thus dilute existing shareholders is perfectly OK with me.
Read his book, its pretty good....if Allied did half the shit he outlined in his book our SEC is a complete joke....yet another day in this Enron Economy i guess...
I honestly read more anti-market nonsense on ET lately than most other intelligent forums. So Einhorn is "fishy" because he evaluates companies and buys puts against some? Guess what, if he is wrong he goes broke real fast. If he is right, he saves even more stockholders from being scammed by dishonest corporate accounting (while making a nice profit for himself). On top of that he seems to be a very clever guy, which is probably why he's a wealthy trader rather than one more person who blew his account and is crying for extra government regulation/scrutiny of traders. Traders like Einhorn are the last people who need to be scrutinized - banks are the first entity that that the government should reconsider, but don't hold your breath waiting for that.