Fooling Some Of The People All Of The Time: A Long Short Story 9780470481547

　　A rare look inside the world of activist hedge funds fromone of this country's top investors In 2002, David Einhorn, thePresident of Greenlight Capital, gave a speech at a charityinvestment conference and was asked to share his best investmentidea. He described his reasons why Greenlight had sold short theshares of Allied Capital, a leader in the private finance industry.What followed was a firestorm of controversy. Allied responded witha Washington, D.C. style spin-job-attacking Einhorn anddisseminating half-truths and outright lies. Undeterred by thespin-job and lies, Greenlight continued its research after thespeech and discovered Allied's behavior was far worse than Einhornever suspected. "Fooling Some of the People All of the Time" is thegripping chronicle of this saga, and this edition contains all newupdates from the author. Page by page, it delves deep inside WallStreet, showing how the $6 billion hedge fund Greenlight Capitalconducts its investment research and detailing the maneuvers of anunscrupulous company. Along the way, you'll witness fecklessregulators, compromised politicians, and the barricades our capitalmarkets have erected against exposing misconduct from importantWall Street customers. Goes behind the scenes to detail the truthabout investing, short selling, and the politics of business Showsthe failings of Wall Street: its investment banks, analysts,journalists, and especially our government regulators Offersinsights into the battles surrounding hedge funds Reveals theimmense difficulties that prevent the government from sanctioningpolitically connected companies At its most basic level, AlliedCapital is the story of Wall Street at its worst. But the story ismuch bigger than one little-known company. "Fooling Some of thePeople All of the Time "is an important call for effective lawenforcement, free speech, and fair play.

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　　Delving deep inside Wall Street, the authors show how the $6billion hedge fund Greenlight Capital conducts its investmentresearch. Witness feckless regulators, compromised politicians, andthe barricades capital markets have erected against exposingmisconduct from important Wall Street customers.