| 000 | 01717camuu2200301 a 4500 | |
| 001 | 000045463571 | |
| 005 | 20080821141232 | |
| 008 | 080320s2008 njua 001 0 eng | |
| 010 | ▼a 2008011992 | |
| 020 | ▼a 9780470073940 (cloth) | |
| 020 | ▼a 0470073942 (cloth) | |
| 035 | ▼a (KERIS)REF000014911249 | |
| 040 | ▼a DLC ▼c DLC ▼d BAKER ▼d C#P ▼d YDXCP ▼d BWX ▼d UPZ ▼d DLC ▼d 211009 | |
| 043 | ▼a n-us--- | |
| 050 | 0 0 | ▼a HG3729.U5 ▼b E44 2008 |
| 082 | 0 0 | ▼a 332.6/20973 ▼2 22 |
| 090 | ▼a 332.620973 ▼b E35f | |
| 100 | 1 | ▼a Einhorn, David. |
| 245 | 1 0 | ▼a Fooling some of the people all of the time : ▼b a long short story / ▼c David Einhorn ; foreword by Joel Greenblatt. |
| 260 | ▼a Hoboken, N.J. : ▼b J. Wiley , ▼c c2008. | |
| 300 | ▼a xx, 379 p. : ▼b ill. ; ▼c 24 cm. | |
| 500 | ▼a Includes index. | |
| 520 | ▼a In 2002, Einhorn spoke publicly about Allied Capital--a leader in the private finance industry--presenting it as an excellent short opportunity. Einhorn describes the incredible events that followed his speech and how Allied and the investment community attacked him to protect the company--and its stock price. Informative and intriguing, "Fooling Some of the People All of the Time" details how the current environment on Wall Street--and the world of hedge funds in particular-- not only allows for such behavior, but how it protects the companies and attacks those who attempt to uncover them.--From publisher's description. | |
| 610 | 2 0 | ▼a Allied Capital ▼x Management ▼x Evaluation. |
| 610 | 2 0 | ▼a Allied Capital ▼x Accounting ▼x Evaluation. |
| 650 | 0 | ▼a Small business investment companies ▼z United States ▼x Management ▼x Evaluation. |
| 945 | ▼a KINS |
소장정보
| No. | 소장처 | 청구기호 | 등록번호 | 도서상태 | 반납예정일 | 예약 | 서비스 |
|---|---|---|---|---|---|---|---|
| No. 1 | 소장처 중앙도서관/서고6층/ | 청구기호 332.620973 E35f | 등록번호 111488989 (4회 대출) | 도서상태 대출가능 | 반납예정일 | 예약 | 서비스 |
컨텐츠정보
책소개
A revealing look at Wall Street, the financial media, and financial regulators by David Einhorn, the President of Greenlight Capital
Could 2008's credit crisis have been minimized or even avoided? In 2002, David Einhorn-one of the country's top investors-was asked at a charity investment conference to share his best investment advice. Short sell Allied Capital. At the time, Allied was a leader in the private financing industry. Einhorn claimed Allied was using questionable accounting practices to prop itself up. Sound familiar? At the time of the original version of Fooling Some of the People All of the Time: A Long Short Story the outcome of his advice was unknown. Now, the story is complete and we know Einhorn was right. In 2008, Einhorn advised the same conference to short sell Lehman Brothers. And had the market been more open to his warnings, yes, the market meltdown might have been avoided, or at least minimized.
- Details the gripping battle between Allied Capital and Einhorn's Greenlight Capital
- Illuminates how questionable company practices are maintained and, at times, even protected by Wall Street
- Describes the failings of investment banks, analysts, journalists, and government regulators
- Describes how many parts of the Allied Capital story were replayed in the debate over Lehman Brothers
Fooling Some of the People All of the Time is an important call for effective government regulation, free speech, and fair play.
New feature
"This book is a must-read for any investor who wants to know how far some companies will go in their quest to keep the real story from coming out."—Herb Greenberg, Senior Columnist, MarketWatch.com
"In Fooling Some of the People All of the Time, David Einhorn, one of the great investors of all time tells one of the great investment tales of all time. This is a book in which you will learn about investing, short selling, and the politics of business. David is not only a great investor, but a wonderful storyteller. I recommend it wholeheartedly for your brain and your pocketbook."
—William A. Ackman, Pershing Square Capital Management, L.P.
"In the world of finance, as in the worlds of politics or science, free speech and open debate are essential. Sadly, our current system is rigged against bearers of bad news, and short sellers are an oppressed minority. David Einhorn's amazing story of scam artists, corporate doubletalk, clueless regulators, and sleazy lawyers is a gripping narrative. A great read."
—Owen Lamont, Fellow, International Center for Finance, Yale School of Management
An unscrupulous company has cost the U.S. taxpayers hundreds of millions of dollars. As it has happened, our government regulators have been at best derelict and at worst complicit. The company is headquartered in the political power center of Washington, D.C., where it has established enormous influence that has protected it. It is a large customer of Wall Street, which predictably lends it strong support.
In Fooling Some of the People All of the Time, David Einhorn—founder of the successful hedge fund Greenlight Capital—takes you on a fascinating journey that begins with his discovery that Allied Capital's accounting appeared corrupt. This led to Einhorn describing his hedge fund’s short position in the company at a charity speech (go to www.foolingsomepeople.com to watch), and what follows is a battle for the truth that continues to this very day. The story would make for a great forensic financial mystery novel—except it’s all true.
If you think we're past the days of corporate corruption and financial fraud, think again. Fooling Some of the People All of the Time details the harsh reality of how the current environment on Wall Street not only allows for such behavior, but how it protects the companies that participate in such activities and attacks those who attempt to uncover them. This is a story about investing, business ethics, and how our government should—but often doesn’t—protect investors and taxpayers.
정보제공 :
저자소개
David Einhorn(지은이)
2013년 포브스 선정 미국 400명 부자 중 젊은 억만장자 20명 안에 포함된 아인혼은 롱숏 전략을 구사하는 가치투자 스타일의 헤지펀드인 그린라이트캐피털의 설립자 겸 최고경영자이다. 1991년 코넬대학교를 전 과목 최우등으로 졸업한 아인혼은 1996년 그린라이트캐피털을 설립해 이듬해인 1997년에는 57.9%의 놀라운 수익률을 기록했다. 그 후로도 그린라이트캐피털은 매년 20% 이상의 투자 수익률을 기록하고 있다. 금융시장에서 아인혼의 막강한 영향력은 투자 컨퍼런스에서 그가 문제점을 지적한 얼라이드캐피털(2002년)이나 허벌라이프(2012년) 등의 주가가 그 다음날 바로 20% 이상 떨어졌다는 사실 등으로 입증할 수 있다. 또한 그는 리먼브라더스 파산을 예견하고, 2009년에 일본 국채수익률이 상승할 것이라고 예상해 적중시키는 등 탁월한 선견지명을 보여주며 금융가의 주목을 받고 있다. 2003년에는 ‘버핏과의 점심’ 자선 경매에 참여, 워렌 버핏과 점심을 함께 하는 등 아인혼은 그린라이트 설립 이후 지금까지 가치투자에 기반한 공매도 투자로 두각을 나타내고 있다. 포커 대회에 자주 출전하는 포커 선수이자, 열렬한 야구팬이기도 한 그는 2011년 뉴욕 메츠 구단의 지분을 인수해 화제를 모으기도 했다.
조엘 그린블라트()
‘현대판 벤저민 그레이엄’으로 불리는 가치투자자. 1985년 창립 이래 2005년까지 약 20년간 무려 40%의 수익률을 올린 사모투자 파트너십 고담캐피털의 설립자이자 경영 파트너다. 또한 ‘가치투자의 산실’로 불리는 컬럼비아대학교 경영대학원에서 20년 이상 겸임교수로 재직해 학문적 지식과 실전 투자 경험을 두루 겸비한 투자자로 인정받고 있다. 펜실베이니아대학교 와튼경영대학원에서 경영학 석사를 취득했으며, 《포천》 선정 500대 기업의 이사회 의장을 역임한 바 있다. 자본수익률과 이익수익률 두 가지 지표만으로 염가의 우량주를 판단하는 ‘마법공식’은 이 책 『주식시장을 이기는 작은 책』에서 처음 공개되며 전 세계의 주목을 받았다. 그린블라트는 이 마법공식을 기반으로 가치투자의 기본 원칙, 일반 상식 그리고 정량적 분석 방법을 따른다면 누구나 시장, 인덱스펀드, 투자 전문가를 이길 수 있다고 단언한다. 현대 헤지펀드의 창시자인 마이클 스타인하트와 컬럼비아대학교 경영대학원 교수 브루스 그린왈드, 가치투자의 거장 마이클 프라이스 등은 일제히 “기념비적인 책”, “완벽한 책”과 같이 열렬한 찬사를 보냈다. 이처럼 큰 반향을 얻은 이 책은 16개 언어로 수출되어 전 세계적으로 100만 부 이상 판매되었다. 그린블라트는 이 밖에도 『주식시장을 이기는 큰 비밀』, 『당신도 주식투자의 천재가 될 수 있다(You can be a stock market genius)』, 『상식(Common sense)』 등 양서를 펴내며 《뉴욕타임스》 베스트셀러 작가로 인정받았다. 그는 전설적인 수익률을 기록한 투자가이자 일반 투자자에게 지혜를 나누고자 애쓰는 교육자로 널리 존경받고 있다.
목차
Foreword.
Acknowledgments.
Allied Capital Stock Price Chart.
Who’s Who.
Introduction: The Spark of a Speech.
Part One: A Charity Case and Greenlight Capital.
Chapter 1 Before Greenlight.
Chapter 2 Getting the "Greenlight".
Chapter 3 Greenlight's Early Success.
Chapter 4 Value Investing through the Internet Bubble.
Chapter 5 Dissecting Allied Capital.
Part Two: Spinning So Fast Leaves Most People Dizzy.
Chapter 6 Allied Talks Back.
Chapter 7 Wall Street Analysts.
Chapter 8 The You-Have-Got-to-Be-Kidding-Me Method of Accounting.
Chapter 9 Fact—Or Maybe Not.
Chapter 10 Business Loan Express.
Chapter 11 Disengaging and Re-engaging.
Chapter 12 Me or Your Lyin’ Eyes?
Chapter 13 Debates and Manipulations.
Chapter 14 Rewarding Shareholders.
Chapter 15 BLX Is Worth What, Exactly?
Part Three: Would Somebody, Anybody, Wake Up?
Chapter 16 The Government Investigates.
Chapter 17 A Tough Morning.
Chapter 18 A Spinner, a Scribe, and a Scholar.
Chapter 19 Kroll Digs Deeper.
Chapter 20 Rousing the Authorities.
Chapter 21 A $9 Million Game of Three-Card Monte.
Part Four: How the System Works (and Doesn’t).
Chapter 22 Hello, Who’s There?
Chapter 23 Whistle-Blower.
Chapter 24 A Naked Attack.
Chapter 25 Another Loan Program, Another Fraud.
Chapter 26 The Smell of Politics.
Chapter 27 Insiders Getting the Money Out.
Part Five: Greenlight Was Right . . . Carry On.
Chapter 28 Charges and Denials.
Chapter 29 Charges and Admissions.
Chapter 30 Late Innings.
Chapter 31 The SEC Finds a Spot under the Rug.
Chapter 32 A Garden of Weeds.
Chapter 33 A Conviction, a Hearing, and a Dismissal.
Chapter 34 Blind Men, Elephants, Möbius Strips, and Moral Hazards.
Glossary.
About the Author.
Index.
정보제공 :