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"The culture of corporate greed that you depict is one that must be held to account if we are to prevent companies and bad actors from engaging in practices that are harmful, not only to investors, but also to our national economy."
-Senator Olympia J. Snowe
"What you will find within the pages of this book will blow you away. This is a tale of deceit, fraud, misrepresentation, cloak-and-dagger antics, millions and millions of wasted taxpayer dollars, and an unbelievable amount of effort expended by Einhorn and others to bring it all to light. . .This book may go down as one of the classic financial forensics books of our time."
-Clyde Milton, Seeking Alpha
"But the most troubling material concerns an issue that is bigger than Allied and Einhorn's battle: it's the way criticisms of corporate behavior are received in the marketplace. Many, including the SEC, appeared inclined to shoot the messenger."
-Bethany McLean, Fortune
In 2002, David Einhorn-one of the country's top investors-was asked at a charity investment conference to share his best investment advice. His response: short sell Allied Capital. At the time, Allied was a leader in the private financing industry with a reputation that had never been questioned. But Einhorn claimed Allied was using murky accounting practices to prop itself up. At the time of the original version of Fooling Some of the People All of the Time, the outcome of his advice was unknown. Now, the story is complete and we know Einhorn was right. He was right again when in 2008 Einhorn advised the same conference to short sell Lehman Brothers. With a new and substantial epilogue, the paperback edition of Fooling Some of the People All of the Time provides a detailed conclusion to the gripping battle between Allied Capital and Einhorn's Greenlight Capital and describes how many parts of the Allied Capital story were replayed in the debate over Lehman Brothers.
"The culture of corporate greed that you depict is one that must be held to account if we are to prevent companies and bad actors from engaging in practices that are harmful, not only to investors, but also to our national economy."
-Senator Olympia J. Snowe
"What you will find within the pages of this book will blow you away. This is a tale of deceit, fraud, misrepresentation, cloak-and-dagger antics, millions and millions of wasted taxpayer dollars, and an unbelievable amount of effort expended by Einhorn and others to bring it all to light. . .This book may go down as one of the classic financial forensics books of our time."
-Clyde Milton, Seeking Alpha
"But the most troubling material concerns an issue that is bigger than Allied and Einhorn's battle: it's the way criticisms of corporate behavior are received in the marketplace. Many, including the SEC, appeared inclined to shoot the messenger."
-Bethany McLean, Fortune
In 2002, David Einhorn-one of the country's top investors-was asked at a charity investment conference to share his best investment advice. His response: short sell Allied Capital. At the time, Allied was a leader in the private financing industry with a reputation that had never been questioned. But Einhorn claimed Allied was using murky accounting practices to prop itself up. At the time of the original version of Fooling Some of the People All of the Time, the outcome of his advice was unknown. Now, the story is complete and we know Einhorn was right. He was right again when in 2008 Einhorn advised the same conference to short sell Lehman Brothers. With a new and substantial epilogue, the paperback edition of Fooling Some of the People All of the Time provides a detailed conclusion to the gripping battle between Allied Capital and Einhorn's Greenlight Capital and describes how many parts of the Allied Capital story were replayed in the debate over Lehman Brothers.
Foreword xi
Allied Capital Stock Price Chart xiv
Who's Who xvii
Introduction to This Edition xxi
Introduction: The Spark of a Speech 1
Part One: A Charity Case and Greenlight Capital
Chapter 1 Before Greenlight 9
Chapter 2 Getting the "Greenlight" 13
Chapter 3 Greenlight's Early Successes 23
Chapter 4 Value Investing through the Internet Bubble 33
Chapter 5 Dissecting Allied Capital 43
Part Two: Spinning So Fast Leaves Most People Dizzy
Chapter 6 Allied Talks Back 55
Chapter 7 Wall Street Analysts 65
Chapter 8 The You-Have-Got-to-Be-Kidding-Me Method of Accounting 73
Chapter 9 Fact-or Maybe Not 81
Chapter 10 Business Loan Express 97
Chapter 11 Disengaging and Re-engaging 105
Chapter 12 Me or Your Lyin' Eyes? 111
Chapter 13 Debates and Manipulations 121
Chapter 14 Rewarding Shareholders 127
Chapter 15 BLX Is Worth What, Exactly? 135
Part Three: Would Somebody, Anybody, Wake Up?
Chapter 16 The Government Investigates 145
Chapter 17 A Tough Morning 157
Chapter 18 A Spinner, a Scribe, and a Scholar 165
Chapter 19 Kroll Digs Deeper 171
Chapter 20 Rousing the Authorities 179
Chapter 21 A $9 Million Game of Three-Card Monte 193
Part Four: How the System Works (and Doesn't)
Chapter 22 Hello, Who's There? 213
Chapter 23 Whistle-Blower 223
Chapter 24 A Naked Attack 237
Chapter 25 Another Loan Program, Another Fraud 245
Chapter 26 The Smell of Politics 255
Chapter 27 Insiders Getting the Money Out 265
Part Five: Greenlight Was Right ... Carry On
Chapter 28 Charges and Denials 275
Chapter 29 Charges and Admissions 283
Chapter 30 Late Innings 297
Chapter 31 The SEC Finds a Spot under the Rug 311
Chapter 32 A Garden of Weeds 319
Chapter 33 A Conviction, a Hearing, and a Dismissal 331
Chapter 34 Blind Men, Elephants, Möbius Strips, and Moral Hazards 351
Part Six: Epilogue
Chapter 35 Looking Back: As the Story Continued 359
Chapter 36 The Lehman Brothers Saga 361
Chapter 37 If They Asked Me, I Could Write a Book 367
Chapter 38 Just Put Your Lips Together and Blow 377
Chapter 39 Some Final Words to and from the SEC 387
Chapter 40 The Last Word 397
Glossary 401
Acknowledgments 407
About the Author 409
Index 411
| Erscheinungsjahr: | 2010 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Importe, Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Taschenbuch |
| Inhalt: | 448 S. |
| ISBN-13: | 9780470481547 |
| ISBN-10: | 0470481544 |
| Sprache: | Englisch |
| Herstellernummer: | 14548154000 |
| Einband: | Kartoniert / Broschiert |
| Autor: | Einhorn, David |
| Auflage: | Updated edition |
| Hersteller: |
Wiley
John Wiley & Sons |
| Verantwortliche Person für die EU: | Wiley-VCH GmbH, Boschstr. 12, D-69469 Weinheim, amartine@wiley-vch.de |
| Maße: | 230 x 153 x 35 mm |
| Von/Mit: | David Einhorn |
| Erscheinungsdatum: | 07.12.2010 |
| Gewicht: | 0,655 kg |
Foreword xi
Allied Capital Stock Price Chart xiv
Who's Who xvii
Introduction to This Edition xxi
Introduction: The Spark of a Speech 1
Part One: A Charity Case and Greenlight Capital
Chapter 1 Before Greenlight 9
Chapter 2 Getting the "Greenlight" 13
Chapter 3 Greenlight's Early Successes 23
Chapter 4 Value Investing through the Internet Bubble 33
Chapter 5 Dissecting Allied Capital 43
Part Two: Spinning So Fast Leaves Most People Dizzy
Chapter 6 Allied Talks Back 55
Chapter 7 Wall Street Analysts 65
Chapter 8 The You-Have-Got-to-Be-Kidding-Me Method of Accounting 73
Chapter 9 Fact-or Maybe Not 81
Chapter 10 Business Loan Express 97
Chapter 11 Disengaging and Re-engaging 105
Chapter 12 Me or Your Lyin' Eyes? 111
Chapter 13 Debates and Manipulations 121
Chapter 14 Rewarding Shareholders 127
Chapter 15 BLX Is Worth What, Exactly? 135
Part Three: Would Somebody, Anybody, Wake Up?
Chapter 16 The Government Investigates 145
Chapter 17 A Tough Morning 157
Chapter 18 A Spinner, a Scribe, and a Scholar 165
Chapter 19 Kroll Digs Deeper 171
Chapter 20 Rousing the Authorities 179
Chapter 21 A $9 Million Game of Three-Card Monte 193
Part Four: How the System Works (and Doesn't)
Chapter 22 Hello, Who's There? 213
Chapter 23 Whistle-Blower 223
Chapter 24 A Naked Attack 237
Chapter 25 Another Loan Program, Another Fraud 245
Chapter 26 The Smell of Politics 255
Chapter 27 Insiders Getting the Money Out 265
Part Five: Greenlight Was Right ... Carry On
Chapter 28 Charges and Denials 275
Chapter 29 Charges and Admissions 283
Chapter 30 Late Innings 297
Chapter 31 The SEC Finds a Spot under the Rug 311
Chapter 32 A Garden of Weeds 319
Chapter 33 A Conviction, a Hearing, and a Dismissal 331
Chapter 34 Blind Men, Elephants, Möbius Strips, and Moral Hazards 351
Part Six: Epilogue
Chapter 35 Looking Back: As the Story Continued 359
Chapter 36 The Lehman Brothers Saga 361
Chapter 37 If They Asked Me, I Could Write a Book 367
Chapter 38 Just Put Your Lips Together and Blow 377
Chapter 39 Some Final Words to and from the SEC 387
Chapter 40 The Last Word 397
Glossary 401
Acknowledgments 407
About the Author 409
Index 411
| Erscheinungsjahr: | 2010 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Importe, Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Taschenbuch |
| Inhalt: | 448 S. |
| ISBN-13: | 9780470481547 |
| ISBN-10: | 0470481544 |
| Sprache: | Englisch |
| Herstellernummer: | 14548154000 |
| Einband: | Kartoniert / Broschiert |
| Autor: | Einhorn, David |
| Auflage: | Updated edition |
| Hersteller: |
Wiley
John Wiley & Sons |
| Verantwortliche Person für die EU: | Wiley-VCH GmbH, Boschstr. 12, D-69469 Weinheim, amartine@wiley-vch.de |
| Maße: | 230 x 153 x 35 mm |
| Von/Mit: | David Einhorn |
| Erscheinungsdatum: | 07.12.2010 |
| Gewicht: | 0,655 kg |
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