Wednesday, 22 October 2014
Last updated 15 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.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...