“David Einhorn is one of the few hedge-fund managers whose views can instantly move a stock,” Brendan Conway writes for Barron’s. “They’re ‘the closest thing in finance to self-fulfilling prophecies,’ as Bloomberg puts it. Except, in a peculiarity, when it comes to Apple.”
“Bloomberg Businessweek’s upcoming cover story, ‘The Einhorn Effect,’ recounts a few reasons the iPad maker’s stock hasn’t rebounded in spite of the Greenlight Capital manager’s entry,” Conway writes. “The magazine is putting out a preview this morning of what sounds like a must-read for watchers of the hedge-fund business.”
Read more in the full article here.
Nick Summers writes for Businessweek, “Einhorn, used to having investors rushing to follow in his footsteps, was suddenly in the unusual position of fighting the market. ‘If you’re accustomed to being someone who, when you breathe, markets respond, the risk is that you can come to believe that that’s going to be true without exception,’ says Simon Greer, CEO of Nathan Cummings. ‘And when you then step into an arena with ISS and CalPERS and others—and certainly Apple’s management—and you don’t get that reaction? Then you’re in uncharted territory.'”
Much more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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