Sometimes even the world's best stock analysts get it very wrong.
"Fooling some people ..."
"Fooling some people ..."
Einhorn conned
- Thread starter blakpacman
- Start date
How was he conned?
Just a play on words for the ticker CONN, which Greenlight owned 3.5 million shares.
Einhorn recently burned on his 6.15 million shares in Civeo as of 9/30/14.
http://www.nasdaq.com/symbol/cveo/institutional-holdings
http://www.nasdaq.com/symbol/cveo/institutional-holdings
Einhorn not exactly lighting the world on fire with his stellar results. "Buying the Mets" was probably a big tipoff.
December 2013 I bought the $70 Calls and made a little coin until CONN starting acting weird. There were some big Put Option purchases which made me wonder why a stock that blew away Wall Street Analyst and crushed the Shorts was being Shorted as fast as they could sell the stock. Taking another look at CONNs and reading the Message Boards had me buy a few long-dated expensive Puts, I wish I had the balls to buy a bigger position and follow it after it's failed attempt at $80.
Was CONN's at $70+ because of the heavy Short Interest and Magical Earnings or was Wall Street (not the Shorts) Conned by it? I don't trust those stocks and even though BBY is not RSH, I don't like it either! GME and Geeknet (GKNT, Build-a-Bear, BooksAMillion) look like disastering waiting to happen, who is shopping at Best Buy now their inventory is minimal and their trying to use Amazon's model?
Regis did better than Einhorn with his Micron Trade (not saying much after he failed to sell his MolyCorp, Fast Money Gang told him to sell it, Short it, Sell lots of Calls and Regis after spending the day at Green Light Capital was even more arrogant about his MCP trade, did it go Bankrupt too?
Was CONN's at $70+ because of the heavy Short Interest and Magical Earnings or was Wall Street (not the Shorts) Conned by it? I don't trust those stocks and even though BBY is not RSH, I don't like it either! GME and Geeknet (GKNT, Build-a-Bear, BooksAMillion) look like disastering waiting to happen, who is shopping at Best Buy now their inventory is minimal and their trying to use Amazon's model?
Regis did better than Einhorn with his Micron Trade (not saying much after he failed to sell his MolyCorp, Fast Money Gang told him to sell it, Short it, Sell lots of Calls and Regis after spending the day at Green Light Capital was even more arrogant about his MCP trade, did it go Bankrupt too?
Happy New Year B-Pacman! This is the time we need to reflect on "what went right" and "what went wrong" for us in 2014. I hope you had a good 2014, it was pretty decent for me and I hope all the hard working Elite Traders made a nice R.O.I and positioned themselves well with those pullbacks in good stocks in Late December.
I think like you, we need to ponder how the professional money was beaten by a Passive Index. CALPERs and various Government Employee Pension Funds terminated the services of various Hedge Funds because their performance was bad and fees were high. Why did Einhorn hold this stock, its almost like they refuse to admit their wrong.
When Carson Block of "Muddy Waters" exposed Sino-Paper almost every tier 3 analysts came to bat attacking Carson Block's character with ad-hominids Carson Blocks thesis was so clear and John Paulson lost over $1 Billion on that trade because of his pride, how come someone like John Paulson refused to listen to Carson Block? He should have had him on pay-roll paying him $5 Million a year, much cheaper than losing his ass on Sino-Paper!