David M. Einhorn (born November 20, 1968) is an American investor, hedge fund manager, and amateur poker player.
[21] When Bear Stearns had to be bailed out by the Federal Reserve in March 2008, Lehman was widely considered to be in a weak financial situation.
Einhorn publicly characterized Callan's responses on the call in a negative light and Lehman stock fell sharply.
[26] In January 2012, the U.K. Financial Services Authority (FSA) fined Einhorn and Greenlight Capital $11.2 million for trading on inside information.
The FSA claimed Einhorn obtained information on the Punch Taverns Plc (PUB) equity fundraising by a broker representing the company prior to public knowledge of the event.
The Financial Services Authority stated:The FSA accepted that Einhorn's trading was not deliberate because he did not believe that it was inside information.
[29] Speaking at the Value Investing Congress in New York City on October 17, 2011, Einhorn publicly announced his short position in Green Mountain Coffee Roasters stock.
[30] Prior to that date, the company's share price had increased more than tenfold since March 2009, the third-biggest gain in the Standard & Poor's Midcap 400 Index.
[31] A few weeks later on November 9, 2011, Green Mountain's quarterly report missed analyst expectations and its stock price plunged to $43.71.
In early February 2013 Einhorn filed a lawsuit against Apple Inc. in a Manhattan court in order to pressure the company to issue dividend-paying perpetual preferred stock as a means of distributing some of its $137 billion in cash to shareholders.
[33][34] Speaking at the Sohn Investment Conference on May 4, 2015, Einhorn sharply criticized unprofitable oil and gas companies.
Einhorn also joked that Pioneer Natural Resources is a "Motherfracker," referencing hydraulic fracturing or "fracking" that is a common means of stimulating production from oil- and gas-bearing rock.
[8] In 2012, Einhorn co-hosted a fundraiser for the Keeping America Competitive PAC, led by moderate Republican Leonard M.
In the spring of 2009, as promised in his book Fooling Some of the People All of the Time, Greenlight Capital donated all of the general partner's profits from the shorting of Allied Capital stock (an additional $6 million - Greenlight already donated $1 million in 2005 to Tomorrows Children's Fund - to make a total of $7 million) to three organizations (Tomorrows Children's Fund, The Project On Government Oversight (POGO) and the Center for Public Integrity (CPI)).
On May 26, 2011, the New York Mets announced that Einhorn had agreed to buy a minority share of the baseball team for $200 million.
[48] In 2012, Einhorn donated his winnings from the 2012 World Series of Poker Big One for One Drop Tournament (which had a one million dollar buy in, and in which he won $4,352,000 for his 3rd-place finish) to City Year.
[49][50] In 2019, Einhorn final tabled the $50,000 No Limit Hold'em High Roller (Event #5), also this at the World Series of Poker, when he finished 9th for $122,551.
[51][52] Fishback claimed that in the two-and-a-half years he worked at Greenlight Capital, he was promoted twice; first from research analyst to trader and then to head of macro, having generated a total $100 million in profits for the New York fund during his tenure.