As you may have heard, David Einhorn will be purchasing a minority stake in the New York Mets, for $200 million. DE held a conference call just now to discuss the investment and answer a few questions including but not limited to how he feels about the Mets’ financial situation/what his expectations are for stake, which was asked, conservatively, 15 times, and which he responded to each time by reiterating that this is a “personal” deal and he’s in it for the love of the game. Also: 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 »
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
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In a report that references: “A certain short’s recent presentation on the St. Joe Company.” Read more »