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.--This text refers to the Hardcover edition.
Wow, what a great book! I loved this book so much I was sorry when I came to the end of it.
Whoever would have thought that a book about accounting would read like a... Read more
Timing isn’t the most important element of securities investing, but it is very important. Over the past two decades, few investors have timed things better than David Einhorn, who... Read morePublished 1 month ago by Harry Eagar
Book is a bit long so I'd just recommend reading the beginning, parts of the middle and then the last chaptersPublished 4 months ago by can yilmaz
I honestly loved this book. Reading this book is probably the last time I couldn't put a 500+ page book down. And probably the only time I was so riveted by accounting practices. Read morePublished 4 months ago by Ellie Evans
Just finished reading this book (e-book on Kindle Fire) and I highly recommend it. You need to be somewhat knowledgeable about capital markets to understand parts of it, but... Read morePublished 4 months ago by AC
The story told here is one sided. This is David's version which is IMHO, very slanted toward his point of view. Read morePublished 4 months ago by Thomas E. Lux