In 1981, David Einhorm is graduated from Cornell University (New York) where he passed with distinction in all subjects. He is the CEO of Greenlight Capital, a hedge fund which he created in 1996 with a million dollar. In 2008, his fortune was estimated about six billion dollars.
Principally short-seller, the fund’s strategy is lucrative, its profitability was around 26% a year since 1996.
The name of David Einhorm is closely related with the short sale. Even if he appears as a long-term investor, David Einhorm is adulated for his hit-and-run offensives and his bear speculations. Best examples are Allied Capital and Lehman Brothers.
In 2002, during a conference fir a charitable institution, organized by Tomorrows Children’s Fund, David Einhorm presents Allied Capital as an opportunity to sell. While a significant number of indications tend to prove this declaration, Allied Capital blows off steam against David Einhorm. During the struggle, David Einhorm is subjected to underhand tricks (SEC investigation on David Einhorm and his wife’s dismissal at Barron’s, stolen phone records…). David Einhorm wrote a book about this affair: “Fooling some of the people all the time”.
In 2007, he spots before anyone else the pitiful situation of the company Lehman Brothers and while others hedge funds do not say anything, he speaks into microphones.
In May 2008, during another charity event, David Einhorm launches a diatribe against the investment bank accused of hiding the truth about its accounts. A few days later, the equity drops and David Einhorm wins $ 1 billion.
When his detractors accuse him of precipitating the death of his prey, he affirms being an activist for financial transparency.
David Einhorm is also the CEO of Greenlight Capital RE Ltd, based in the Cayman Islands, specializing in reinsurance. He is one of the principal shareholders of the company.
In 2006, Einhorm won $ 659.730 at the World Series of Poker in Las Vegas. He gave all his winnings to the Foundation Michael J.Fox (actor affected by Parkison’s disease).
He is also a contributor to many charities in New York, as The Ira Sohn Foundation.
He is married and has two daughters and a son.
He is known as “the man who has bet on the fall of Lehman Brothers”.
« Fooling some of the people all the time » by David Einhorn.
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|Latest news about David Einhorn|| |
|Don't take my advice|
|05/08 - NEW YORK (Reuters) - David Einhorn, one of the most closely followed managers in the $2 trillion hedge fund industry, had some blunt advice on Wednesday for his fellow investors: Do your own homework.
|Einhorn's big bet on gold slammed by sell-off|
|04/12 - BOSTON/NEW YORK (Reuters) - This year's sell-off in gold has been harmful for dedicated gold-bugs like hedge fund manager John Paulson but it has also hit managers like David Einhorn who is better known for his stock picks than his love of the yellow metal.
|03/01 - NEW YORK (Reuters) - David Einhorn's more than $8 billion hedge fund, Greenlight Capital, gained 0.3 percent in February, according to sources familiar with the matter.