Bill Ackman and David Einhorn Talk About Investing on CNBC

[lelouch3]

Without short sellers there would be a lot more fraud in the market.

[fishman456]

49... thats the stupidest thing i have ever heard....

[49fiori]

Short selling is just going against the trend.

DJIA was 66 in 1921 it is 12,500 today. how do you lost money in this 90 years, many many many people did, but to be a short seller, you really are betting against the trend, which always has been and always will be upward...

[vcdna1]

@49fiori WTF are you talking about, I don't think you even know what's going on.

[49fiori]

6:29 - I think we will make more money on the long side this year.

May 2008 - how wrong he would be just 4 months later....

[49fiori]

May 10 2008 - they talk about CDOs just pay attention with what conviction Ackman talks about CDOs being extremely dangerous

[davkail]

Einhorn got the shaft on that interview. His one question was about how he met Ackman.

[moebaby2007]

does anyone know when this interview was done?

[nnnNOTORIOUS]

@moebaby2007 must be early 2009. he said he made all his profits short last year (2008) and was long this year (as in 2009)

[moebaby2007]

@nnnNOTORIOUS thanks for your reply. I actually found the same video on the list on the right posted in May 2008, so it is actually earlier. Very interesting commentry. Thanks again for the reply.

[Jspeterson]

This is Saturday, May 10, 2008

[goedeck1]

Ackman is doing a good job deflecting retarded leading questions.

[rexdeodium]

Gosh people, stop being so jealous. There's nothing wrong shorting. People who buy houses with 0% down - they are scum.

[pirucreek]

short sellers are scum. It should be illegal to short.

[smartrip11]

@pirucreek that's ridiculous

[eatandtravel]

@pirucreek

You are a retard.

[pirucreek]

@eatandtravel The purpose of a stock is to invest in a company. Short sellers can effect the price of a company and distort the free market.

[skumarjunk]

These interviewers should be fired. They need to go back cleaning toilets for a living.

[wangstick]

@skumarjunk Well they aren't as smart as Ackman, but Ackman also seems to be shy and socially awkward. I think that was a big problem throughout the interview.

[Smoke2mirror]

The hosts really do not understand the definition of mark-to-markets and Ackman explain it very concisely (sell 10% and multiply that cash receipt by 10). They have not learned the lessons and keep asking questions to cheer on the market. Asking about his official holdings is inappropriate, he cannot discuss them publicly. They should have read his gov't disclosures and form more appropriate questions but I guess reading is too much work for hosts/reporters

[nnnNOTORIOUS]

@Smoke2mirror you would actually only need to multiply that cash receipt by 9. 100% - 10% = 90% remaining!!

[Smoke2mirror]

@nnnNOTORIOUS

true, you would only mark the 90% remaining as your current position.

I was referring to the accounting entry rationale, sold 10% to find a price (verifiable) and the gain/loss would be separated from historical cost and recognized according to applicable GAAP (consistent) ...but thanks for the comment

[Smoke2mirror]

I agree with slickd' that the hosts were not adequately prepared, based on Ackman body language and jab at Einhorn "shortseller / book author" I doubt that he would attend the show if his friend was not there that day. The differences b/w the former traders/hosts and long/short managers are very apparent here. Ackman and Einhorn are people that you want to manage your money b/c of their temperament, diligence and intelligence. And NOT the other folks.

[tringo]

Looking back this is one of the most important and prescient interviews of the year. They may not be sociable but these guys are geniuses.

[slickdog2100]

horrible interview skills