Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information.
Thursday, 8 December 2016
Last updated 11 hours ago
May 30 2014 | 9:37am ET
There will be an 82-year-old intern stalking the halls at Greenlight Capital this summer if founder David Einhorn gets his way.
Einhorn suggested that legendary talk-show host Regis Philbin join the activist hedge fund after Philbin said last year that he was sticking with his investment in Micron Technologies—just before Greenlight began buying up a large stake in the company, which it once shorted.
“I have an idea for you,” Einhorn proffered Philbin on CNBC’s “Fast Money” this week. “You did such a good job finding Micron, and then it doubled, and I thought it was good. And then I though maybe I could take your advice for the summer, and I was wondering where trying to get some young blood in at Greenlight, some young minds, and I was wondering if you want to come intern for the summer.”
“Exactly what I’ve got,” Philbin joked. “Some young blood.”
Philbin, who retired from his morning show in 2011, did not commit to taking the job.
Micron’s success helped fuel Greenlight’s returns last year. Einhorn told CNBC that the stock still has room to grow.
“It’s a volatile stock, and very subject to going down a few dollars here or there,” he said. “But we think the business there has fundamentally changed, and we think the consensus estimates are dramatically too low. And the quality of the business is high, higher than people think, and we think there is still a lot more upside to go.”