David Einhorn, Famed Hedge Fund Manager, Done With Microsoft, Ballmer

Silicon Alley Insider:

Famed hedge-fund manager David Einhorn (Greenlight Capital), the man who shorted Lehman Brothers, has been clobbered along with other Wall Street stars over the past few months. In his "I'm sorry about our awful performance" letter for the third quarter, however, Einhorn did include one nugget that a lot of Microsoft investors can probably relate to:

We wanted to share some thoughts on Microsoft (MSFT), which we closed during the quarter. We believe that we purchased the shares at an attractive time, and for a good while the investment worked nicely. As has been our habit of late, we overstayed our welcome as the shares peaked after the company announced a very good September 2007 quarter.

Read the whole story: Silicon Alley Insider

Comments

[GerryS]

07:28 PM on 10/07/2008

F--- this guy. Hedge funds and their operating procedures are a big part of this meltdown.

I really hope that there will be some very serious regulation­s in store for these sleeze bag, "Hedge Funds" and their managers! Most of them deserve jail time.

[Christian]

08:43 PM on 10/07/2008

Agreed, how about the company focusing on building a good company, creating good jobs, and building more opportunit­y & wealth for the long term investor. Screw those that only want short term gain and double digit profits off their money lending. MS can find plenty of other investors I am sure. Short selling should be outlawed! It's only for gamblers and as Ben Stine said, "The financial markets are too important to the country to allow for gambling so the banking system should be nationaliz­ed."