Thoughts and Observations on Turkish Economy and financial markets. Turkiye Ekonomisi, Borsa, Dolar, Altin, Faiz, Teknik Analiz, Grafik, Hisse Senetleri...

Friday, September 09, 2011

David Einhorn Greenlight

David Einhorn
David Einhorn recently made a bid to buy a third of NY Mets baseball team for $200 Million. Where did David Einhorn get this kind of money. David Einhorn is the founder of New York based Greenlight Capital hedge fund. David Einhorn established the hedge fund in 1996 and Greenlight Capital managed to deliver over 20% annually after fees and expenses. We have been covering David Einhorn and his transactions at Ekonomi Turk frequently. David Einhorn usually makes his boldest calls at the Ira Sohn Investor Conference. In 2008 David Einhorn said he is shorting Lehman Brothers because of its poor financials. A few months after that call the investment bank went bankrupt and this boosted Einhorn's reputation significantly.

David Einhorn also gave a speech about Allied Capital at the Ira Sohn Conference and that call turned out to be correct after years of struggle. He wrote a book about that adventure: Fooling Some of the People All the Time.

We like David Einhorn. In this year's Ira Sohn Conference David Einhorn picked Microsoft as his target. But this time Einhorn wasn't shorting the stock. In fact David Einhorn bought more of the stock. David Einhorn was asking Steve Ballmer to leave Microsoft. Einhorn said the stock is trading at a significant discount. Since then the stock market declined significantly and Microsoft outperformed the market by more than 10 percentage points.

David Einhorn is a fine hedge fund manager. You can read his entire speech about Microsoft at the following address: David Einhorn. Here is a video clip of David Einhorn: