Brutto

NYT Smears David Einhorn, Again

Well said, Whitney! If Einhorn is dead wrong, we should thank him for making LEH affordable and load up on the stock (or, better, on the convertible) for the long term. If he is right, we should feel sorry for LEH employees who have a much higher proportion of their assets tied up in the firm than your average fund manager.

Either way, we know we are at an inflection point in the economy when press and governments have to go on a witchhunt for speculators and dark powers (those bad,bad hedge funds) as a scapegoat for market forces: not very rational, and more of a psycho/sociological phenomenon a this stage of the cycle.