David Einhorn: I Do Whatever They Say

Hedge fund manager David Einhorn’s Fooling Some Of The People All Of The Time is amazing. The book documents the war between Allied and Greenlight Capital. It’s crystal clear from the get-go that the book is an affidavit of sorts, filled with dates, names, facts that could be checked and the financials that made Einhorn a Wall Street hero. You try to be skeptical, but Einhorn answers the questions before your mind even comes up with them.

GREENLIGHT CAPITAL David Einhorn

One wonders how David Einhorn and his team could possibly have documented – either mentally or otherwise- all the facts listed. But they did. The book’s publisher offered Allied a chance to correct any factual errors, and since Allied never responded one only assumes the book is as accurate an account as possible.

Aspiring hedge fund managers and business students may know that David Einhorn’s Fooling Some Of The People All Of The Time is a must read. Einhorn presents with alarming detail the dubious accounting practices that were protected or ignored by Wall Street, the media and Washington alike.

We asked Einhorn what he thought might have happened had he never made his now infamous speech detailing Allied’s questionable actions.

“Allied might have had a better chance to come clean. But my feeling is that once I made the speech, they sort of dug their heels in,” he said. “And I think they wound up mismanaging their business in an effort to try to prove me wrong.”

Aspiring journalists should also read this book. Every word shows how at the time, Einhorn crossed paths with practicing journalists who leaned on the status-quo-must-be-right mentality that journalism students are often taught to push through. Instead, Einhorn seems to have taken on the role of the reporter searching with conviction for the truth behind Allied.

But there’s also one other group of people who should read this book: Parents who are motivated to work like dogs so that their children are better off. The real story for us came early in the book. This writer could feel her gut cave in with envy not from reading about the multiple battles Einhorn waged and won, the money he earned in a business he started, or the contributions he made to various noteworthy charities. It was from reading of the elder Einhorns’ decision to fork over a  half a million dollars to their 27-year-old’s business.

The internal parental to-do list of yours truly is now one entry longer, with Fund Their Dreams. Nancy and Stephen Einhorn knew this decades ago. David pays tribute to them in several ways in the book. “My parents still have tremendous influence on me,” Einhorn told us recently. “I do whatever they say.”

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!