The guest host outright said he investment banks are complicated to look at and he is has no clue ... he is commenting on things he knows nothing about...and bottom line LEH a good investment and not going down" He did say you could make a bear case on the business but not on its liquidity
He recommended it as a buy!
(Basically implied Einhorn is OVER HIS HEAD and doesnt know what he is doing in evaluating LEH)
Like I posted here before, the only thing that Einhorn brought up that wasn't already talked about on this forum was the $6.5B CDO.
If you walked into Fuld's office and told him that the problem with the company was $6.5B, he would break out the champagne.
I do believe the shorting party is over.
You should admit one fact, which I admit: you know far less than Einhorn knows -- same with me. Therefore, neither of us is in a position to judge. Let's face it, we (the public) are each only going by one thing, that is, instinct as to whom we believe and trust because NEITHER of us knows any more than Einhorn, or the fellow who was on Fast Money recommending LEH (but who also repeatedly hedged that recommendation) ... so, really, it's a coin toss and only time will tell who has been right or wrong. I'm just saying, you should not hold yourself out to be any better or worse than Einhorn or anyone, because the fact of the matter is, you know jack -- but the same is so for me. Let's get honest, bud.
"Basically implied Einhorn is OVER HIS HEAD and doesnt know what he is doing in evaluating LEH"
Put and price action indicates the market has no idea how to evaluate LEH either. Mgmt's documentation indicates same, or a concerted effort to deceive. That's a HUGE problem for an IB...maybe even insurmountable.
Go short or get out.
And you believe him? common, basic accounting concepts would at the least make any educated fool cautious, let alone down right repulsed.
cnbc jackass sounded like democrat, telling the masses they don't know what they are looking at.
wish they would have asked him if his firm had a long position.
i would bet not!