The financial crisis that began in 2008 was not a crisis for everyone. For example, David Einhorn

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The financial crisis that began in 2008 was not a crisis for everyone. For example, David Einhorn from Greenlight Capital made a fortune during the financial crisis. Einhorn shorted the investment bank Lehman Brothers in July of 2007 when the stock was selling for over $70 per share. The share price steadily declined over the next 10 months to around $35 per share when he publicly announced his short position at a large NYC investment conference in May of 2008. On the day of his speech, Lehman’s stock closed down an additional $2.44 per share. Lehman, which before the crisis was the fourth largest investment bank in the United States, filed for bankruptcy in September 2008.

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Investments Analysis And Management

ISBN: 9781118975589

13th Edition

Authors: Charles P. Jones, Gerald R. Jensen

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