Monday, 30 November 2015
Last updated 40 min 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.”
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…