Circle of Competence

My friend Sivaram Velauthapillai, who writes the terrific Can Turtles Fly? blog, responded to my article on Einhorn and Lehman yesterday with some of his thoughts. He brings up good points, though I disagree with many of them, and I’d like to try and give my perspective on his thoughts, and let my readers see [...]

The media never ceases to amaze me. You’d think that, over time, one would get used to the generalization, exaggeration, and pandering, but after reading a certain article this morning, I find that thesis incorrect.
Introduction
The article in reference is Lehman Battles an Insurgent Investor, from today’s New York Times, written by a lady named Louise [...]

I read David Einhorn’s speech at the TCF charity conference, and once again, I’m impressed.
In the first part of the speech, Einhorn goes through some thoughts on Allied Capital, recapping the trouble he’s felt since 2002. In one swift analogy, Einhorn crushes the Allied naysayers:
“When I speak of investors I am including hedge fund [...]

Here’s a cool interview with David Einhorn by TheStreet.com on Allied Capital (ALD) and its devious ways… one I thought you guys might enjoy viewing. To this point, nothing about the man has struck me as fake or deceptive, and it’s a shame that honest, analytical individuals like Mr. Einhorn are vilified in [...]

I finished David Einhorn’s investing “novel” Fooling Some of the People All of the Time this afternoon, and I have nothing but praise. I mentioned here that I’d write up a quick review, so I’d like to do just that.
The Story
In the early chapters, Einhorn does a great job introducing us to himself and [...]