qi_y0

Still, the Crooks Be Winnin'

If Einhorn is such a great numbers and details guy then how did he lose his shirt in New Century and remained on the BOD until the company was insolvent? Einhorn played sub-prime with New Century and got burnt. Regarding ALD, Einhorn's thesis that ald had not marked its investments to "market" was actually disproved and remained false. His short worked out due solely to the credit crisis that claimed C, BAC, WB, ACAS, and plenty of other financials. ALD's Q2 numbers beat the street and were far better than even the most bullish observers expected. The credit quality of ald's portfolio is better than it's been in the past 2 years and the spread of yield earned against interest cost is widening and forshadowing stronger net investment income in the future. I think that it's time for einhorn to find another horse to ride--