Looks like after todayâs announcement (June 9) of LEH needing to raise about 6 BILLION in new capital that my new favorite hedge guy was absolutely correct about LEH. Also he was dead on the money about ALD even thought as we all know by now it takes time for truth to catch-up to the stock price drop. Although neither stock is going to zero or is bankrupable he was 100% right about both stocks being way overvalued. You gotta like Mr. Einhorn started his hedge fund out with $1 million in capital and 11 yrs latter with 25% a year return now manages about $5 billion.
So in other words, while Einhorn was backing his views with hundreds of millions of real money in the market, you are just posting an opinion on the internet? You're entitled to your view, but I don't see how someone trading with real money is "fishy", compared to a typical message board poster.
Who thinks the financial reporting of GS, JPM, LEH, ... are fishy? Gotta love this quote: "Lehman is raising $6 billion that they said they didn't need to replace losses that they said they didn't have," Einhorn said.
Let's take a look at real talent, shall we? I mean, this is supposed to be "Elite Trader", not, "Sleight of Hand Trading", or "bribe the regulators.com". So let's learn from the 25 % year in year out crowd. These transcripts were used to put Elgindy away. It was a tiered system where everybody gamed everybody below them. the master of course, was Tony. Now, someone here lauded Mr. Pink as some genius. Fine. i guess opinions are nice. Here are some selected passages. there are more, some worse. 12:17 2/9/2001 AnthonyPacific (convicted felon Amir Anthony Elgindy) 4 although there is an official investigation in to GENI,. it is now clssified Formal and Non Public ........so it can not be mentioned publically. 14:27 Chris431 "wow, our A@Pfunds paid for the Bloomberg article. Great use of $ , Tony. 10:59 5/25/01 JUNM sell short 10% @9.50 or so (SEC investigation, confirmed) trades goodentight(thin maybe a gator( trade accordingly or watch) 11:06 Anthony quack i did get JUNM from the us govt. can't say what branch. 13:35 (Pay attention to this one) JUNM 3 difft (sp) FBI investigations into thius (sp) guys son Jason (John Galanis, convicted felon of securities fraud) has large blocks of JUNM stock, SEC is on to him. 12:02 fbi and sec will be here later as will class milberg weis sguy (sp) (Mel Weiss was just convicted and sentenced. William Lerach also) 16:50 12/20/01 +aloha Did the SEC say anything about ASW? 16:50 Anthony. Yes. I'd look for an SEC investigation very soon. SOME OF THE PLAYERS per http://investigatethesec.com/drupal-5.5/node/114 Bond = John Fiero, Barred from the Industry for Securities Fraud Auric Goldfinger = Stephen Worthington, noted shortseller who runs Corsair Capital Mr Pink = Hedge Fund Guru Daniel Loeb Shothemoney = Doug Zemsky, Plead Guilty in $4.4M Manipulation and Kickback Scheme Trader 14U = Paul Haray, Plead Guilty in $4.4M Manipulation and Kickback Scheme Archer = Todd Heizl, SEC Administrative Order for the Sale of Unregistered Securities I'll make a few, what are in my opinion, cogent points. 1. This is not talent. This is fraud and stock market manipulation. 2. Yes, some companies are frauds, however, bribing FBI agents to dig up dirt, then bribing the SEC to move on the companies after you short position in is also fraud. 3. The network lives. Floyd Schneider still inhabits SI, and Tony still publishes from prison. 4. Loeb ran 500mm at this time. I'll try to find the posts when I get some time. But go read them yourselves. Do you think he paid 3g's a month, and didn't use the information? Do you not think similar tactics are currently being used? Do you not think CNBC is being used, albeit seemingly willingly, by the hedgies? Do you really believe these guys are smarter than you? Well, some of you, it's a given. But............................ You heard a couple CNBC talking heads question Einhorn's accounting skills. He doesn't need them. In my opinion, someone gave him the answer, and he's working backwards. Just my opinion mind you, but it fits, doesn't it??? Hard work my ass. And if CNBC wants to go down with them, great. I may even celebrate that one. I believe, and I believe you are about to read, the same tactics are practiced today on a daily basis at an exponential number to the Elgindy Salad Days. What say you?
i like the point he makes about the california commercial venture. a $30 yard investment that has been marked to market with a $ 700 million dollars loss. so california commercial real estate has only devalued 2.33% according to lehman. hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahhahahahahahahahahahah. wait while ill pick myself up off the floor. lehman are having a fucking laugh. that investment is probably a third to fifty percent lower at best. no wonder this guy is cleaning up shorting the stock. its outrageous that lehman have lied to the shareholders about these kind of investments. what a joke they are.
Fishy= spending so much time trying to 'help' poor ignorant folk like you see the light, instead of quietly banking. You must be kidding.
The New Fishy (according to Einhorn): helping poor ignorant folk to see the light so that he becomes the New Robin Hood of Wall Street because "there is simply no other way." lol