Wednesday, June 18, 2008
More interesting reading on Lehman - following my previous post showing the overlay of blog posts on the decline of Lehman stock. New York magazine's article The Confidence Man on David Einhorn's shorting of Lehman is a fascinating read.
What's really refreshing about what Einhorn did at Greenlight Capital is that he did what he thought was morally right, at the same time as acting to make significant gains for his investors. He "outed" Lehman, refusing to be quiet and let them continue to obfuscate the risks in their business. And his actions are a classic example of how quality research combined with confidence make money.
Graphic courtesy of New York Magazine