a book by david einhorn from green light capital, was fantastic. i am still shocked. has anyone read this? can someone please give some kind of other side of the story? otherwise ive lost faith in humanity.
His article Private Profits, Socialized risk is amazing in my opinion. It eats away the validity of Value-at-risk and the idiotic notion of banks including subordinated debt as equity. He is also pretty bearish on Lehman. He seems to have saw this whole mess coming and shorted the shit out of the financials.
“He seems to have saw this whole mess coming and shorted the @#$%& out of the financials” Greenlight was one of the largest shareholders of New Century Financial. I still think it’s a great book.
meh Im an idiot, nothing new lol. my bad.
Thanks for pointing this out, see the speech here (pdf at top of the page) http://agonist.org/lj/20080418/david_einhorn_private_profit_and_socialized_risk