“He looked seriously at the Brewers,” said Bill Ackman, another hedge fund heavyweight, who runs Pershing Square Capital Management. He said that Einhorn did not view his interest as a lark. Indeed, Ackman said Einhorn “kicked himself” when he heard what Attanasio’s group paid for his share of the team: $223 million. [NYT]
Pelfrey Unwittingly Solves Mets’ Biggest Problem: Reyes Gets The $200M If He Beats David Einhorn In PokerBy Bess Levin
If Einhorn wins Reyes must agree to play for a year’s supply of Shake Shack burgers with a player/team option to renegotiate for fries when his contract is up. Read more »
Unless the Wilpons think they can come up with $200 million, in which case they’d better start sending Irving Picard a daily Edible Arrangement now. Read more »
“Having an opportunity to become part of the Mets franchise is exciting beyond my wildest childhood dreams. I spent my first seven years living in New Jersey and rooting for the Mets. In 1975, I even dressed in a homemade jersey as a Met for Halloween. I have been a baseball fan for my entire life and have enjoyed teaching the game as the coach of my daughter’s little league team. I look forward to partnering with the Wilpon and Katz families through the good seasons, the tough seasons and especially the championship seasons.”
Yesterday at the end of his Ira Sohn presentation (after telling Steve Ballmer to do the right thing and quit Microsoft), David Einhorn added “Go Mets!” with little grin on his face, like he had a secret…which apparently was that he just bought a minority stake in the team.
The New York Mets have agreed to sell less than 49 percent of the club for approximately $200 million to David Einhorn, president of Greenlight Capital Inc., sources close to the deal tell ESPN’s Karl Ravech. The sale will not include a stake in SNY, the television network owned by the Mets, the sources said.
This kid is probably pretty pleased with the news: Read more »
Live-Blogging The Ira Sohn Conference: David Einhorn Thinks Steve Ballmer Is The Fucking Rake, Carl Icahn Is Recommending Carl IcahnBy Bess Levin
5:43 Presentation: “Two Longs And Two Types Of Overhang”
5:43 David wants to start with a quote by Jean Claude Juncter: “When it becomes serious you have to lie”
5:44 Einhorn’s first long idea is… Read more »
On tap: Ackman, Joel Greenblatt, David Einhorn, Eike Batista, Carl Icahn
4:55 Speaker 11, Bill Ackman, Pershing Square
4:56 “A lot of people think of Pershing Square as an activist fund- well this is going to be a passive idea”
4:57 Bill is recommending… Read more »
This year’s conference will not include David Tepper’s balls but the show must go on. Scheduled speakers, in order of appearance: Erez Kalir, Dinakar Singh, Jeff Aronson, Robert Howard, Phil Falcone, Jim Chanos, winner of the inaugural Ira Sohn investment contest, Steve Feinberg, Peter May, Steve Esiman, Jeff Gundlach, Marc Faber, Bill Ackman, Joel Greenblatt, Mark Hart III, David Einhorn, Eike Batista, Carl Icahn.
12:20 Speaker 1: Erez Kalir, founder and CEO of Sabretooth Capital, presenting: “Economic Death As A Special Situation”
12:21 The last time he spoke in front of this many people “was at my bar mitzvah”
12:22 You don’t have to make money the Warren Buffett way.
12:25 Holding MBIA stock is “favorably asymmetric” Read more »
Greenlight Capital: Not Unlike The Way Charlie Sheen Must Feel 99.9% Of The Time, The Last Quarter Left Us A Bit ‘Confuzzled’By Bess Levin
Read more »
In a report that references: “A certain short’s recent presentation on the St. Joe Company.” Read more »