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Mr Einhorn s book recounts behind–the–scenes details of the sort that are seldom made public an instructive guide for general investors Financial Times Tuesday 16 June 2008
What followed was a firestorm of controversy. Allied responded with a Washington, D.C. style spin–job attacking Einhorn and disseminating half–truths and outright lies. Rather than protect investors by reviewing Einhorn′s well–documented case against Allied, the SEC at the behest of the politically connected Allied instead investigated Einhorn for stock manipulation. Over the ensuing six years, the SEC allowed Allied
to make the problem bigger by approving more than a dozen additional stock offerings that raised over $1 billion from new investors. Undeterred by the spin–job, lies, and investigations, Greenlight continued its research after the speech and discovered Allied s behavior was far worse than Einhorn ever suspected and, shockingly, it continues to this day.
Fooling Some of the People All of the Time is the gripping chronicle of this ongoing saga. Page by page, it delves deep inside Wall Street, showing how the $6 billion hedge fund Greenlight Capital conducts its investment research and detailing the maneuvers of an unscrupulous company. Along the way, you′ll witness feckless regulators, compromised politicians, and the barricades our capital markets have erected against exposing misconduct from important Wall Street customers. You will also discover the immense difficulties that prevent the government from sanctioning politically connected companies making future Enrons inevitable. This revealing book shows the failings of Wall Street: its investment banks, analysts, journalists, and especially our government regulators.
At its most basic level, Allied Capital is the story of Wall Street at its worst. But the story is much bigger than one little–known company. Fooling Some of the People All of the Time is an important call for effective law enforcement, free speech, and fair play.
The number of reviews I've left on Amazon could probably be counted on one hand. This is one of them. Read morePublished 3 months ago by Paul
It was a great tale, very detailed. Perhaps at times David loses the retail investor's interest due to the level of detail and complexity, but all told an incredible tale of... Read morePublished 4 months ago by Harry Simons
Gripping, engaging, honest, brilliant, eye-opening, great story and great teller. It is not a best seller just because of the author reputation but surely for the honest, balanced... Read morePublished 23 months ago by Tusalvat
This is an excellent book that gives a fascinating insight into some of the real workings of the American market - and a glimpse into the impossibility of cleaning up Wall Street... Read morePublished on 14 Nov. 2012 by Frank Lea
I was rather misled by the blurb on the book and thought that this revised edition will wrap Einhorn's crusade against Allied Capital with a wider message about Lehman and the... Read morePublished on 1 Feb. 2012 by @iGlinavos
i really enjoyed this book. the writing wasn't too financially technical (or boring) and also has a great glossary. Read morePublished on 2 Jan. 2012 by Gcrikey
Very good read, gives a great insight into the world of people who short stocks. Einhorn describes in detail the diversionary tactics of companies in announcing quarterly and... Read morePublished on 14 Mar. 2011 by Roosterali