As you know, we’ve been encouraging the various firms on the “no short” list to say thanks but no thanks to Cox, and remove themselves from the ban. We were specifically hoping Goldman would send the message that they are strong enough to go it alone, but apparently they’re not yet done being hypocritical pussies. Fair enough. Luckily, David Einhorny is no such HP.
Living up to his name, the Greenlight Capital founder has pulled Greenlight Re (GLRE) from the list. If ‘Horny isn’t afraid to expose his super-secret offshore Cayman island firm to the scrutiny of the market, what the hell is GS’s problem? I guess they just don’t have the stones for this business. Maybe they should think about moving into retail banki–oh, oh wait.
In related news, in association with Naked Shorts, we’re considering printing and distributing ‘Gutless Hypocrite’ T-shirts. We just need the sizes of Peter Clarke, Noam Gottesman, a few others, and we’re good to go.
[NASDAQ via Naked Shorts]
Comments (30)
Leave a comment
You can log in with your account or comment as a guest below.
Horsey Sauce!
At least some people in this market still have some integrity
purely a marketing tactic. greenlight re has a market cap of less than $700 million. it’s hardly a reinsurance company; look at the premiums vs other companies of its size in the sector. this is a hedge fund in drag (guess who manages most of the investment portfolio?). as such, it won’t suffer from a crisis of confidence in the face of a falling stock price like a traditional bank. at the end of the day, einhorn and his cronies who own the majority of the stock could squeeze the bejezus out of any shorts…
What about no bail out does Chuckie Schumer not get? He says he heard from his constituents and then he says he is gong to ignore them. He is using scare tactics.
sold!
F the shirts.
I propose everybody buys one share of MS and GS and then pushes for shareholder resolutions officially banning the firms from engaging in short sales.
The best quote I read today: “Capitalism on the way up; communism on the way down”. If that’s how these A-holes want to play, let’s put them in a box.
Who’s with me?
@ Cluzo – It’s the principle of the thing.
Not that I disagree with you.
@3– DH would look like an asshole if he had a firm on the list…so this was a good move by him and he probably believes in it as well.
Bess…
Is that T-shirt available in V-Neck too?
The Guy from Delaware
Ron Paul is gonna pwn today
“at the end of the day, einhorn and his cronies who own the majority of the stock could squeeze the bejezus out of any shorts…”
That’s a fair risk and shorts always took the risk that a big player like Einhorn will disagree with his opinion of a stock and squeeze him out. What’s bullshit is a market wide “emergency” short sale ban (which is what this is, make no mistake, and why I’m here in the middle of the day instead of working). The only ones who can hedge their risk is market makers, so the rule creates enormous rents for market makers while customers pay that rent with buy-ins and wider spreads.
The SEC is a fucking organized crime organization.
@7 – agree on the principle issue, but it’s more style over substance. the press is probably hyping it up since he’s always pounded as the “evil short seller”. I’ll give him the free pass on this one, but those in know are not fooled (pun intened, for those who read the book)…
@ cluzo – When do you find time to read?
@13 – when others are sleeping…
http://www.youtube.com/watch?v=UcQNddGLFN8
plus, it was a relatively quick read.
@8 David Einhorn is an asshole along with hix little lady Cheryl Strauss who aided and abetted him when she wrote for Barrons.
Both should dumped into a giant blender with other RATS like David Rocker, Herb Greenberg and Jim Cramer and turned into fertilizer.
Clay Aiken is gay who would of THUNK!what next?
WTF? Who’s Clay Aiken? Where’s he work?
I am the CEO of a Hedge Fund. Who is David Einhorn?
90 day a2/p2 6.00
@15
Cramer for Sec. Tres.
Anyone know the hedge fund MD bonuses?
@21 what about the associate numbers?
At this point we should just tell the world that the citizens of the United States have decided not to have their economy supported by debt.
Others countries have defaulted and were just fine.
This is just ridiculous. Wait, next week everyone’s grandparents are going to be on the bus for the march on Washington.
They woke up a sleeping giant, the baby boomers!
I took a break studying for the LSAT (yes, I’m out of a job..) to check my email and I had this:
http://www.youtube.com/watch?v=WcU4t6zRAKg
If it’s not relevant, I don’t know what is.
@17 wht were u in the closet too.Clay Aiken from american idol.He is in the play on broadway.(Spodealot). p.s. i know you prob have his cd!
Einhorn is Finkle!
I’m an associate at a hedge fund, and the downfall of the private brokerages has me scared as hell about compensation…
-HEDGEmony
I’m an associate at a hedge fund, and the downfall of the private brokerages has me scared as hell about compensation…
-HEDGEmony
@26, your gun is digging into my hip.
@26, your gun is digging into my hip.