May 26 David Einhorn is planning to use $200
million of his personal fortune to buy a minority stake in the
New York Mets Major League Baseball team, joining a growing
number of hedge fund managers who indulge their love of sport
by buying pieces of famed teams. [ID:nN26247232]
Einhorn announced his talks with Mets ownership a day after
he called for Microsoft Corp (MSFT.O) Chief Executive Officer
Steve Ballmer to step down. [ID:nN25183623]
Here are some facts about the 42-year-old investor:
* Einhorn established his reputation as a savvy stock
picker when he became the first to publicly raise red flags
about Lehman Brothers Holdings Inc's balance sheet at the Ira
Sohn Conference in 2008. A few months later, the investment
* One of his "best ideas" at last year's Ira Sohn
conference -- shorting Moody's Corp (MCO.N) -- however, was a
flop as the stock price has surged 79.10 percent since then.
* In October Einhorn laid out his case against real estate
developer St. Joe Co (JOE.N) and got into a war of words with
shareholder Bruce Berkowitz. St. Joe's share has price jumped
26 percent in the last six months.
* Einhorn sat on the board of New Century Financial and
resigned in 2007 after the subprime lender faced a criminal
* Einhorn's tone is mild but his tactics can be tenacious.
He began shorting Allied Capital Corp (AFC.N) in 2002 and did
not let up even when the battle turned intensely personal after
the company obtained his telephone records. Einhorn says
someone impersonated his wife and using her Social Security
number directed the phone company to send copies of his home
phone records to an online account.
* Einhorn now oversees $7.8 billion after starting the firm
in 1996 with $1 million in assets when his wife gave him the
"green light" to launch the fund.
* Einhorn's love for the team spans decades, first
blossoming when he dressed as a Met in a homemade jersey for
Halloween in 1975 and taking center stage this week when he
shouted "Let's Go Mets" at the end of an investor
(Reporting by Svea Herbst-Bayliss, editing by Gerald E.