Why It Ranks #96
The most detailed insider account of short selling and activist investing ever published. Einhorn shows exactly how fraud persists in public markets and what it takes to expose it.
The Review
David Einhorn, founder of Greenlight Capital, documents his five-year battle with Allied Capital, a publicly traded company he believed was a fraud. Fooling Some of the People All of the Time is a real-time account of short selling, regulatory failure, and the difficulty of being right when powerful interests want you to be wrong. Einhorn details every step — the analysis, the public presentation, the pushback, and the eventual vindication.
Key Takeaways
- 1Short selling requires conviction, patience, and a tolerance for being attacked
- 2Regulatory capture is real — regulators often protect the companies they are supposed to oversee
- 3Detailed fundamental analysis can uncover fraud that auditors and analysts miss
- 4Being right is not enough — you also need to survive until the market agrees with you
Fun Facts
- •Einhorn famously predicted Lehman Brothers' collapse months before it happened
- •He donated all profits from his Allied Capital short to charity
- •Einhorn is also a professional poker player and finished 18th in the 2006 World Series of Poker Main Event
Book Details
Fooling Some of the People All of the Time by David Einhorn
Pages
400
Goodreads Rating
3.99/5
Copies Sold
100K+
First Published
2008
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