Kopin, Mitchell P. of Downsview Capital, Inc.

Mitchell P. Kopin of Downsview Capital, Inc.

Media Releases

In June of 2005, an article was written on hedge funds investing in strip joints. In 2004, VCG Holdings, a national strip club company, went to Downsview Capital and two other mid-sized hedge funds in order to finance the purchase of a $6 million club in Denver.

In 2005, Downsview Capital Inc was number 8 on the top 10 investors by number of deals.

In 2000, Mitchell P. Kopin, President of Cranshire Capital LP, was a lead investor in IPaxess which is creating new VocalWare IP integrated server and other products.

In 1999, Mitchell P. Kopin, President of Cranshire Capital LP, was a lead investor in Data Race, a company providing new VOIP products.

In 1991, Mitch Kopin was quoted for his stock positions while employed at Guilford Securities. He states that STAAR Surgical is a “must buy.”

Hughes, Martin Brian (also Marty) of Toscafund, Ltd.

Martin Brian (also Marty) Hughes of Toscafund, Ltd.

Media Releases

In October of 2009, Toscafund Asset Management cut their stake in Aberdeen Asset Management to less than 5%. The company had previously held 9.8% in the company.

In May of 2009, Toscafund Asset Management was up sharply after a dismal 2008. Tosca, which was forced to freeze withdrawals of three funds, has unlocked investor gates. Tosca Fund, the main fund was up 25% year-to-date after falling 67% in 2008. Toscafund Asia Fund, has increased more than 5% this year after falling about 50% last year. Tosca Small Cap fund is up 58% year-to-date. ToscaOpportunity Fund, which wasn’t locked last year, climbed 60% after losing 34% last year.

In May of 2009, Toscafund announced that the company’s highest paid director, who is almost certainly Martin Hughes, saw their pay drop from £75 million to £14.9 million in 2008.

In March of 2009, Toscafund announced they had hired a team from Credit Suisse and Royal Bank of Scotland for a new fund. The team included Charles Schrager, Russell Philpott, Narayanan Shadagopan, Adam Doran and Adrian Carr.

In November of 2008, Toscafund Asset Management, which had been plagued with rumors in the prior few months, had pleaded with clients to stick with the fund. The company saw a 20% slide in performance in October, which made year-to-date performance down 66%.

In June of 2008, Martin Hughes, head of Toscafund, had to vigorously deny that his fund had been dumping assets. Rumors had been swirling that the company was liquidating its portfolio. Hughes also mentioned that the rumors about his funds “may be deliberate attempt at market manipulation.”

Martin Hughes is allegedly nicknamed “the rottweiler” by his friends. This factoid is reported in an April 2008 article that discusses how Mr. Hughes’ “favorite company” – Amec – netted Mr. Hughes and Toscafund a “paper profit of almost (pound) 7million.” Mr. Hughes reportedly owned 37.69 million Amec shares, or 11.39% of the company.

In April 2008 news it was discussed that Toscafund, “a hedge fund run by Martin Hughes that focuses on financial services, dropped almost 10% in March.” The fund is reportedly down more than 13% so far this year.

In March 2008 news it was announced that that Toscafund took a 9.82% stake in Aberdeen Asset Management. Martin Hughes is quoted as saying that an “indiscriminate” selling in the stock market prompted Toscafund to by the significant stake.

October 2007 news reports that Sir George Mathewson and Toscafund “reached another milestone” as they acquired a 25% stake in Penta Capital. Within this article, mention is made of Martin Hughes, former RBS research analyst; he is said to have a reputation for “shaking up banks,’ most notably, ABN Amro (see above).

In May of 2007, a trade in ABN’s shares by Toscafund was reported to the FSA. The FSA has started a preliminary review of share dealing in ABN. Based on its findings, they could launch a formal investigation. Specifically, the issue at hand appears to relate to a euro100m trade in ABN shares made by Toscafund in April 2007. Following this, the Royal Bank of Scotland (RBS) unveiled a proposal that it and its consortium partners could pay euro39 million for a share of ABN, driving up share prices. Toscafund allegedly has been an investor in ABS for an established period of time.
Some notable facts related to the situation that are repeatedly mentioned in the media include: Sir George Mathewson, Toscafund Chairman, was formerly an RBS chairman, Toscafund COO Fred Watt is a former RBS Finance Director, and Toscafund founder Martin Hughes is a former RBS broker and research analyst. Since May 2007, no news or records have emerged that support any speculation that Toscafund has been subject to any investigation or sanction by the FSA.

In October of 2005, Martin Hughes made a successful bid of pounds 10,000 for an original Alex cartoon strip.

In April of 2005, Martin Hughes was listed as the 300th wealthiest person in the UK. His net worth at the time was listed at $290 million. In the same year, Martin ranked the 19th wealthiest person in London. That study estimated his net worth to be $257 million.

In May of 2002, CalPER’s allocated $10 million to the Tosca Fund.

The Toscafund is a long/short financial services sector fund formed by Martin Hughes and Johnny de la Hey in 2000. The fund typically holds about 45 positions and has the flexibility to range from 50% net long to 50% net short.

Martin Hughes previously worked as head of Tiger Management’s global financials team. He left Tiger Management in 2000 in order to start Tosca.

There were many articles found from the 1990s where Martin Hughes is quoted for his analysis of a company or stock. For much of this time he was listed as an analyst for Credit Lyonnais.

Martin Hughes is described as one of the top analyst during the 1990s. In a few articles he is listed as Martin “Rottweiler” Hughes. In other articles he is listed as the “top-rated analyst turned successful private investor.”

Prior to Tiger, he was the deputy chief executive and head of research at Credit Lyonnais Laing. He resigned to become managing director of Tiger Europe in 1997. His departure from Credit Lyonnais was considered a major blow to the company. He had been voted the number one analyst in the sector in several surveys in the 1990s.

Toscafund and Martin Hughes had invested in Amec, Wellington Underwriting, Collins Stewart Tullet, and Biofuels.

Halvorsen, Ole Andreas, Jr. of Viking Global Investors, LLP

Ole Andreas Halvorsen, Jr. of Viking Global Investors, LLP

Halvorsen, Ole Andreas, Jr.

Media Releases

April 2014 Hedge Tracker post entitled “Top Connecticut Hedge Funds Surge; Assets up by 7.6%”

February 2014 Bloomberg article entitled “Mandel Tops Best-Earning Hedge Funds for Clients in 2013″

February 2014 Institutional Investors Alpha article entitled “Study: Soros Tops Historical Hedge Fund Performers”

In May 2009 it was reported that Vice Chancellor Stephen Lamb entered judgment in favor of defendants Viking Global, Andreas Halvorsen, and David Ott in the lawsuit filed by Brian Olson.

An April 2009 article stated that The New York State Common Retirement Fund had $55 million invested with Viking Global Equities II.

A February 2009 article reported that Viking made a small gain in 2008 despite massive losses across the industry. At the end of 2008, Viking’s net long exposure to the market was only 23 percent with its largest holding being for-profit education company Apollo Group. The company, which runs the University of Phoenix online schools, rose 58 percent since Viking began buying the stock last May.

In February 2009 Viking raised $80 million to launch Viking Long Fund, LP.

In January 2009, it was reported that Viking Global Equities III Ltd., a $6.8 billion hedge fund run by former Tiger Management trader Andreas Halvorsen, lost 2.1% through Dec. 19, 2008.
A December 2008 article reported that Viking Global hedge funds showed very small losses (less than 4 percent) through October and were invested mainly in stocks. Over the first 10 months of 2008, the S&P 500 lost about 35 percent.

In an October 2008 opinion in Olson v. Halvorsen, Vice Chancellor Stephen P. Lamb granted summary judgment in favor of the defendants as to the plaintiff’s breach of contract claim. Other claims and counterclaims in the suit were decided earlier, after a Sept. 8 hearing in the case. According to the complaint, in the summer of 1999, before the launch of the Viking Global Investors hedge funds that are the subject of the suit, founding members Brian T. Olson, Andreas Halvorsen and David Ott agreed to the material terms of a founders’ agreement. It said, among other things, ‘that each would receive a payout of his interest in Viking for a period of time following his death, retirement or other departure from the firm.’ This was referred to as the ‘Founders Earnout.’ The complaint said the earnout entitled each departed founding member or his estate to receive a payout of his interest in Viking over a three- to six-year period. This earnout was only detailed in one unsigned written agreement. Olson argued the unsigned earnout agreement was enforceable, but Lamb ruled it ran afoul of the statute of frauds.

A July 2008 article described the Transkaryotic Therapies, Inc. lawsuit. Viking Global Equities, LP and VGE III Portfolio Ltd. were plaintiffs along with Icahn Partners. In this challenge to a merger consummated in 2005, defendants were entitled to summary judgment on plaintiffs’ claim that they breached their duty of disclosure in connection with a proxy solicitation since it was now too late for the court to remedy any disclosure violations. Transkaryotic Therapies Inc. (TKT) and Shire Pharmaceuticals Group merged In July 2005. Shortly thereafter, plaintiffs filed appraisal actions. In March 2007, they filed the instant fiduciary duty action. They alleged that voting papers have been lost and that a TKT board member was offered a side deal if he agreed to support the acquisition. In 2005 the same shareholders tried to block the deal, but Shire managed to deflect their lawsuit. The Court of Chancery consolidated both actions. The court granted in favor of the defendants in three out of the four counts. The court denied defendants’ summary judgment motion as it pertained to Count III, the unlawful merger claim. Plaintiffs had demonstrated that there was a genuine issue of material fact as to whether TKT actually obtained a sufficient number of votes for approval of the merger.

In June 2008 pub group Enterprise Inns dropped 11½ to 432¼p as Viking Global Investors, the US hedge fund run by Andreas Halvorsen, lifted its stake to 6.6pc.

In April 2008 Experian, the credit checking group, strengthened 13½ to 381p as Viking Global Investors, the US hedge fund set up by Andreas Halvorsen, revealed that it had amassed a 4.7pc stake.

In March 2008 it was reported that Viking Global Investors manages $9 billion, up from $6.5 billion in 2006.

In February 2008 it was reported that Viking Global Equities was down 4.7% through Jan. 25, after surging more than 40% in 2007, according to HSBC.

In Alpha’s 2008 hedge fund rankings, Viking was ranked #70 in the world.

In 2007, Mr. Halvorsen earned $520 million, making him the tenth-highest paid in the industry. He fell from this same list in 2008.

In June 2007 shareholder Viking Global Performance LLC said it has generally been pleased with LandAmerica Financial Group Inc’s management performance but said the company should consider a sale to further improve value for shareholders.

A January 2007 article stated that Viking Global Investors was a part of an ACC Bondholder Group in Adelphia Communications Corp’s Chapter 11 filing that alleged in its appeal motion that certain creditor classes had no accepting votes and that it was denied due process.

In January 2006, Brian Olson, one of the $5.3 billion hedge fund’s founding partners, filed a wrongful termination lawsuit against the hedge fund and his co-founders, Halverson and David Ott. In a Jan. 13 letter Viking informed its investors of the lawsuit, which it said is “without merit.” There are conflicting reasons why Olson left Greenwich, CT-based Viking last May. Olson says he was fired, while Viking called his separation a voluntary leave of absence. Viking’s letter to investors said the firm made a “significant effort to part ways amicably.” Hedge Fund Alert suggests that the Olson’s real beef might be that he wasn’t fairly compensated for his stake in the partnership, believed to be 25%. Halverson and Ott reportedly own 50% and 25%, respectively.

In 2004, the Viking Global Equities Fund earned 7.6 percent for the year. This trailed many competitors and was disappointing considering the fund had averaged annual returns of about 25% since 1999.

In 2003, Viking Global moved from its Park Avenue, New York City address to new offices in Greenwich, CT. The new office in Greenwich is 36,000 square feet.

In April of 2001, there was an article written on John Fredriksen, a Norwegian businessman who rose up from nowhere to control the largest fleet of oil tankers in the world. He has been known for drinking binges and aggressive takeovers. He was even jailed in 1987 over charges that he used crude cargo to fuel his oil tankers. Since then he has been building an oil tanker empire. Viking Global was listed as one of the investors that have backed Fredriksen.

In July of 2001, Viking Global Investors recruited Bear Stearns senior managing director Philip Egan as the COO.

After the 9/11 terrorist attacks, an article was published stating that many hedge funds had profited from the attack. Andreas Halvorsen’s Viking Global Equities III was one fund that made a lot of money since they had been shorting many different US stocks.

Andreas Halvorsen was on a 2001 list of the highest paid people on Wall Street.

One article stated that Andreas Halvorsen, David Ott, and Brian Olson, who were all previously employees of Tiger Management, founded Viking Global. Viking Global has become well known for extreme secretiveness as well as achieving superior returns. The three left Tiger Management in 1999, just over a year before the firm imploded.

One investor claimed that the success of Viking could be traced back to the fact that “their core strength is that they’re fantastic business analysts.”

In 2000, Viking’s $2 billion fund was up 89% last year after fees. This was considered very good considering 2000 was a dismal year for the stock market.

Mr. Halvorsen is on the advisory council at the Stanford Graduate School of Business.

He is a trustee of Greenwich Academy and serves on the Williams College Committee for Special Strategies advising the board of trustees on selection of fund managers for the endowment.

Mr. Halvorsen graduated from the Norwegian Naval Academy and served as a platoon commander on the Norwegian SEAL Team.

Halvorsen is listed on numerous SEC filings, including those for Plains Exploration, Imclone Systems, Adventrx Pharmaceuticals, Antigenics, Intermune and Regal Entertainment.

O. Andreas Halvorsen lives in Darien, CT with his wife, Diane, and their three children.

Friedman, Joshua Stephan of Canyon Capital Advisors, LLC

Joshua Stephan Friedman of Canyon Capital Advisors, LLC

Friedman, Joshua Stephan

Media Releases

“The inability to sell short a wide universe of shares has limited the ability of managers to hedge risk. That has hurt funds like Dinakar Singh’s TPG-Axon and Joshua Friedman’s Los Angeles-based Canyon Capital, which both joined TPG in its ill-fated investment in Washington Mutual. Their WaMu investment went to zero, but neither fund could offset the loss by selling short other financial companies, the kind of strategy hedge funds usually employ to avoid big losses.” (October 3, 2008)

Canyon Capital was founded in 1990 by Chris Evensen, Josh Friedman and Mitch Julis, all former senior members at Drexel. K. Robert Turner is also a principal who is mentioned in a number of articles.

In the early 1990s, Josh Friedman was associated with Michael Milken, who had a large amount of litigation against him. These suits concerned the “wildly out of control” bonuses that were paid to many Drexel Burnham managers, even in the face of the company’s collapse. In 1992, Milken agreed to pay $900 million to settle all his suits, and to protect him against future ones. Other officials at Drexel, including Friedman, chipped in $300 million, to bring the total settlement to $1.3 billion. Milken had been charged with a number of things. He allegedly rigged the junk-bond market causing investors large losses. His huge payout also settled allegations by the Federal Deposit Insurance Corp. as head of Drexel’s junk-bond department, that he coaxed and bribed S&L executives to buy risky bonds that contributed to the thrifts’ collapse. In 1991, Milken pleaded guilty to six felonies involving securities laws violations and served a 10-year prison sentence.
Joshua Friedman is quoted in several articles concerning market trends and investment ideas
Joshua Friedman’s political campaign contributions are included in a chart below.
In January 2006, Canyon announced that Canyon Capital Realty Advisors would be financing a $40.5 million debtor-in-possession loan to well-known Hawaii hotelier Andre S. Tatibouet. The loan will facilitate Tatibouet’s efforts to emerge from personal bankruptcy and re-establish his hotel business in the islands. The new loan is secured by the 247-room Coral Reef Hotel in Waikiki Beach and an 18,000 square foot home owned by Tatibouet in the Diamond Head area of Honolulu.
In October 2006, Canyon Capital Advisors joined with Nathan Sandler, formerly managing director in charge of emerging market sand international fixed income at Trust Company of the West, to form Canyon International. Canyon International will be a fully integrated asset management firm specializing in international credit strategies for institutional and private clients. It will develop an investment platform consisting of structured credit funds, long/short credit opportunities and other dedicated credit strategies. These strategies will include investing in emerging markets sovereign and corporate debt, European investment grade and below investment grade debt and credit derivatives.
In November 2006 Canyon Capital Realty Advisors provided a $28 million senior bridge loan to Vallambrosa Development Company for the acquisition and pre-development of an 8,212 acre tract of land in Savannah, Georgia. The property, which borders the Ogeechee River and is located 16.5 miles from downtown Savannah, is planned for development as a luxury residential golf community and resort with 2,300 homes or more.
In 2006 CBRL sold the Logan’s Roadhouse chain to a group of private investment firms including Bruckmann, Rosser, Sherrill & Co., Canyon Capital Advisors, and Black Canyon Capital for about $486 million.
A November 2004 article placed Canyon Capital’s assets at $1.2 billion, although other articles mentioned that Canyon controls closer to $6 billion
In November 2004, WHX Corporation announced that the Company’s wholly-owned subsidiary, Handy & Harman, successfully completed the assignment of its $71,000,000 Tranche B term loan from Ableco Finance LLC, as agent, and the existing lenders thereto, to Canpartners Investments IV, LLC.

In December 2004, Canyon Capital Advisors entered into a $275 million senior subordinated loan agreement between J. Crew Operating and Black Canyon Capital LLC.

In 2000, Canyon Capital filed an involuntary petition against Iridium Satellite after the company filed for Chapter 11 bankruptcy protection in DE.

In 1997, Joshua Friedman joined the board at Signature Resorts.

In 1995, Joshua Friedman was elected to the board at Showbiz Pizza Time, Inc. He defeated Michael H. Magusiak in a heated proxy battle, which culminated in the acquisition of 6.4 percent of Showbiz stock by Friedman’s Canyon Partners of Beverly Hills and New Valley Corp. of Miami, a company led by takeover specialist Bennett S. Lebow. Those two companies formed the Showbiz Pizza Independent Stockholders Committee to spearhead Friedman’s election, but that group was disbanded when New Valley began selling Show-Biz stock in December. ShowBiz challenged the election, claiming voting irregularities and inconsistent positions taken by the inspectors during the proxy count. A federal suit in Kansas was filed, but Friedman’s subsequent resignation in 1996 settled all litigation.

Canyon Capital Advisors and DDJ Capital Management provided a $50 million line of credit to Liberty House in Hawaii.

Canyon and its principals, including Joshua Friedman are shareholders with Cadence Design Systems Inc., CEC Entertainment Inc., MAI Systems Corporation, and Sierra Pacific Resources. The company has also been affiliated with Advent.
Joshua Friedman is quoted in several articles concerning market trends and investment ideas.
In 1993, Canyon Capital Realty and former NBA star Magic Johnson formed the Canyon-Johnson Urban Fund, which over the years has acquired and revitalized urban areas in California, New York, and Florida, among other places. In 2003 they teamed with New Pacific Realty Corporation to acquire the Transamerica Tower and two nearby office buildings in Los Angeles.
In 1992, Drexel filed in bankruptcy court to recover $250 million in bonuses given to employees. The company said that the money given to these managers should have been given to its creditors. Joshua Friedman received $4.95 million in bonuses that year.

Fitzgerald, Thomas Maurice, III of Longbow Capital Management

Thomas Maurice Fitzgerald, III of Longbow Capital Management

Media Releases

Mr. Fitzgerald is on The Wall Street Alliance Board of Advisors at Georgetown University.

Mr. Fitzgerald is a director at the Roxbury Land Trust.

The following people have participated in conference calls on behalf of Longbow Capital Partners: Elizabeth Montgomery (Hibbett Sports Inc., March 2009), Steven Gimby (Thomas & Betts, February 2008), and Stephen Gambuzza (WPS Resources Corporation, September 2005).

In 2003, it was announced that Thomas Fitzgerald was leaving his managing director position at Goldman Sachs in order to set up a new firm called Longbow Capital Partners. Longbow was expected to launch US long/short equity funds with a focus on the utility and power sectors.

In 2003, Thomas Fitzgerald was involved in a dispute over how a beef cattle farm in Roxbury and Bridgewater, CT should appear and be run. Thomas Fitzgerald and his wife Libby were called “wealthy weekenders.” The two had donated $1.124 million in order to help a trust purchase and preserve the farmland. Thomas Fitzgerald owned property nearby and used the farmland for horseback riding. Fitzgerald was also hoping to protect the views from his land. Both Thomas and Libby Fitzgerald owned about 150 acres of land in Bridgewater at the time.

In October of 2000, Thomas Fitzgerald was invited to join Goldman Sachs’s partnership pool.

In 1999, it was announced that Terry Fitzgerald was leaving his position at Schroders Plc in London to join Goldman Sachs in New York. His position at Schroeders was head of global equity capital markets. He joined the equity-linked convertibles origination team at Goldman Sachs.

One article reported that Terry Fitzgerald had left two different companies because of “internal friction.” The first time was when he left Salomon Smith Barney in 1998. It was reported that Mr. Fitzgerald clashed with his co-head of equity capital markets, Jim Cowles. The second time was when he left Schroders Plc in London. It was reported that he left after being involved in internal clashes over the direction of the capital markets effort.

Prior to working at Goldman Sachs, Thomas “Terry” Fitzgerald was a co-head of global equity capital markets at Salomon Smith Barney. One article states that in 1990, Terry Fitzgerald was creating Salomon’s equity organization, largely from scratch.

Mr. Fitzgerald was quoted in a July 1995 article as the co-head of equity capital markets at Salomon Brothers.

In December 1991 Mr. Fitzgerald was named as a managing director at Salomon Brothers.

Lida Elizabeth Sunderland and Thomas Maurice Fitzgerald III were married on April 6, 1991.

Investment Advisors Company Profile”

Company Website

NASDAQ Institutional Portfolio

Einhorn, David Michael of Greenlight Capital, Inc.

David Michael Einhorn of Greenlight Capital, Inc.

Forbes profile

Book entitled “Fooling Some People All of the Time, A Long Short Story,” written by David Einhorn

Wikipedia profile

Company Website

Insider Monkey report: 2012 Stock Picks

Einhorn, David Michael

Media Releases

April 2014 Business Insider article entitled “DAVID EINHORN: ‘We Are Witnessing Our Second Tech Bubble In 15 Years’”

April 2014 Business Insider article entitled “David Einhorn’s New Letter Is Out And It’s Making Some Stocks Go Nuts”

March 2014 Bloomberg article entitled “Einhorn Buys Stake in IEX, ‘60 Minutes’ Says”

March 2014 Reuters article entitled “Einhorn identifies leaker of stock purchase, drops lawsuit”

March 2014 Business Insider article entitled “David Einhorn Is Trying To Unmask The Identity Of An Anonymous Seeking Alpha Blogger”

March 2014 New York Times article entitled “Judge in Germany Dismisses Hedge Fund Suit Against Porsche Holding”

March 2014 New York Post article entitled “Famed short seller barely breaks even after Green Mountain stock soars”

February 2014 Reuters article entitled “Einhorn’s Greenlight seeks identity of Micron leaker”

January 2014 Reuters article entitled “Einhorn’s hedge fund adds positions in Micron and BP”

November 2013 Reuters article entitled “Einhorn’s Greenlight Sells Cigna While Buying Spirit AeroSystems”

October 2013 Reuters article entitled “Einhorn’s Greenlight up 4.3 percent in third-quarter”

August 2013 Bloomberg article entitled “Loeb Poised for IPO as Einhorn Dump-Truck Bet Shows Insurer Risk”

May 2013 Institutional Investors Alpha article entitled “Einhorn Gets Defensive about his High-Profile Presentations”

May 2013 Reuters article entitled “Einhorn’s advice to investors: don’t take my advice”

May 2013 CNN Money article entitled “Hedge funds bet against Chipotle”

April 2013 Bloomberg article entitled “Einhorn’s Swaps Boosting Marvell Bet Exposed by Buyback”

April 2013 Fox Business article entitled “Einhorn Could Have a Mining ETF Problem”

March 2013 Market Watch article entitled “Greenlight’s Einhorn drops lawsuit against Apple”

March 2013 Bloomberg Businessweek article entitled “When David Einhorn Talks, Markets Listen—Usually”

February 2013 Guru Focus Stock Picks (requires subscription)

February 2013 Reuters article entitled “Hedge fund manager Einhorn blasts Dell’s buyout plan”

February 2013 Bloomberg article entitled “Einhorn Says S&P Suit Affirms Wager Against McGraw-Hill”

February 2013 Business Insider article entitled “HERE IT IS: David Einhorn’s Massive Presentation On What Apple Should Do”

February 2013 New York Post article entitled “Einhorn holds conference call to sway Apple shareholders”

January 2013 Bloomberg article entitled “Herbalife in Investor Meeting Says Ackman Pyramid Case Wrong”

May 2012 Seeking Alpha article entitled “Tracking David Einhorn’s Greenlight Capital Portfolio – Q1 2012 Update”

According to Greenlight Capital’s December 2009 business filing, “Greenlight Capital has locked horns with some of its investment such as MI Developments and Allied Capital. Einhorn (who is known for his speeches that often uncover the rationale behind some of this investments) even wrote a book about his squabbles with Allied — a company he shorted after uncovering problems with its accounting. But his bet was wrong and Allied’s stock soared. Einhorn wound up being investigated by the SEC after Allied said he threatened the company’s credibility by spreading negative information. Einhorn also grabbed headlines in 2008 when he correctly predicted the demise of Lehman Brothers and shorted its stock months before the firm went belly up.”

In December 2009 David Einhorn was very vocal about the ratings agencies McGraw Hill and Moodys. He also spoke about the value of gold, and his concerns about U.S. and Japanese debt.

In March 2009 National Rural Utilities Cooperative Finance Corp said it would acquire Innovative Telephone Co. and other assets of bankrupt Innovative Communication Corp. (ICC). Until September 2007, Jeffrey Prosser ran ICC. He and his companies were forced into involuntary Chapter 11 bankruptcy after creditors including National Rural and Greenlight Capital LLC, said they had defaulted on more than US$650 million in loans.

An October of 2008 article reveals that David Einhorns’ Greenlight Capital held a short position against General Electric in the third quarter. The Greenlight partnership listed a short on GE as one of its positive closed positions in the quarter, yielding a 67% internal rate of return as the firm bought in, on average, at $26.43 and exited, on average, at $25.22.

An October 2008 article writes that, “it appears that Einhorn’s frequent and vocal questioning of Lehman’s risk management decisions (and how the firm accounted for and reported its financial results) was not a business decision at all. Instead, he maintained that Lehman’s portrayal of its financial performance did not pass the sniff test and that he was simply stating the truth. A point that seems to really stick in Einhorn’s craw is his contention that Lehman, like other firms, has an incentive to sugar-coat its problems because management compensation is largely tied to how its performance is reported.”

From an October 2008 interview with Erin Callan former Lehman Brothers CFO:
What about your relationships with hedge funds? Part of your Lehman legacy is your battle with David Einhorn of Greenlight Capital, who was shorting your stock.
Callan: Our job was to work one-on-one with our clients and shareholders to address questions they had, based on issues that he raised. But the firm found it difficult to ignore the public dialogue he started. Einhorn actually never said anything that was outright false. He had an opinion about lots of things. And he was entitled to his opinion.

An October 2008 article reveals that during when he went before a Congressional oversight committee, Richard Fuld, former Lehman Brothers chief executive, was accused of being preoccupied with David Einhorn, causing him to abandon his fiduciary obligation to shareholders.

Greenlight Capital, a fund run by David Einhorn, was down 12 percent in September 2008. Hedge fund manager David Einhorn suffered a big loss in September as the credit crisis deepened and regulators banned short selling of more than 900 financial-services stocks.
A September 2008 profile of Greenlight Capital Re (Greenlight Re), reveals that the company gives the go-ahead to insurance companies looking to offset their losses. Through operating subsidiary Greenlight Reinsurance, the company sells property/casualty reinsurance, specializing in writing customized contracts in underserved markets, including casualty clash, homeowners insurance in some states (particularly Florida), marine, and property catastrophe. It also provides medical malpractice and workers’ compensation reinsurance. Private equity firm Greenlight Capital formed the company in 2005, and it began underwriting business the following year. Greenlight Re went public in 2007. The company gets much of its business through relationships with reinsurance brokers, including Aon. It used proceeds from its 2007 IPO to increase its underwriting capacity. Chairman David Einhorn, also the president of Greenlight Capital, owns 17% of the company.
A September 2008 article announces David Einhorn isn’t afraid of high stakes: “The New York-based hedge fund manager has taken Magna founder Frank Stronach to court, charging oppression of shareholders. He has also written a book that is highly critical of investment firm Allied Capital. What’s more, he’s a top finisher in the World Series of Poker.”

A June 2008 article reveals that six years ago, hedge-fund manager David Einhorn made a speech at an annual investment conference about a stock he didn’t like—a mid-cap financial company called Allied Capital—and the world came crashing down on top of him. He was investigated by the Securities and Exchange Commission for conspiring with other investors to sink the stock. Allied stole his personal phone records in an attempt to prove the conspiracy. An article in The Wall Street Journal compared his treatment of Allied to “a mugging.” New York’s then–Attorney General, Eliot Spitzer, vowed to do his own investigation. And Einhorn’s wife, an editor at the financial weekly Barron’s, mysteriously lost her job.

A June 2008 article on Mr. Einhorn’s battle with Lehman asks, “How in the world did a hedge-fund manager become our top crusader for financial probity?”

Several shareholder lawsuits were filed against New Century and its board members, including David Einhorn, in the wake of the company’s bankruptcy.

In October 2007 Washington Group Inc announced a settlement to a class-action lawsuit opposing the company’s proposed sale. Schultze Asset Management LLC, a hedge fund that owns about 3 percent of Washington Group shares, filed a lawsuit in Delaware Chancery Court Oct. 1 attempting to stop the engineering and construction company’s planned acquisition by URS Corp. Greenlight Capital Inc. President David Einhorn in late July and late September filed letters opposing the merger as under-valuing the company. The Greenlight hedge fund owns about 10 percent of Washington Group shares.

Greenlight Capital Re went public on May 24, 2007. David Einhorn owns 18% of Greenlight Capital Re, Ltd, located in the Caymans.

Greenlight Capital owned 6.3% of New Century Financial, (and had the right to boost its holdings to as much as 20%), but became embroiled in the sub-prime lender’s woes in 2006. After some proxy wrangling, Einhorn won a seat on the lender’s board, but New Century Financial’s lenders pulled the plug on the mortgage company, sending it into Chapter 11 bankruptcy. Einhorn resigned from New Century Financial’s board in March 2007.

In February 2007 Allied Capital acknowledged that a private investigator it hired illegally obtained the personal phone records of David Einhorn.

In November 2006, Jeffrey Prosser, the principal owner of Innovative Communications, the holding company for Virgin Islands Telephone, announced plans to sell more than 50% of the company. Two of ICC’s creditors, the Rural Telephone Finance Cooperative of Herndon, Va., and New York hedge fund Greenlight Capital LLC, filed an involuntary bankruptcy petition against Prosser and various corporate entities in a Delaware court last February after years of litigation. The parties settled in April. Prosser was unable to arrange financing for the pact, however, and filed a voluntary bankruptcy petition in the U.S. Virgin Islands in late July. Greenlight holds a judgment from the Delaware Court of Chancery for more than $130 million. Greenlight’s judgment pertained to the 1998 transaction in which Prosser took the phone company private. When Greenlight filed an involuntary Chapter 11 petition against Prosser and various business entities in concert with the RTFC, Innovative derided the move as “predatory” and “vindictive.”

A November 2006 New York Times article reported that nearly three years ago, someone claiming to be the wife of the hedge fund manager David Einhorn contacted his phone company and, using his wife’s Social Security number, opened an online account. The caller directed the phone company to send copies of Mr. Einhorn’s home telephone bills to an AOL account, according to letters written by Mr. Einhorn that he provided to The New York Times. At least four others, including Herb Greenberg, a columnist for the MarketWatch Web site, say they also discovered, around the same time, that their phone records had been accessed without their knowledge or approval. The five had one thing in common: All were vocal critics of Allied Capital, a public company that provides loans to smaller companies. The company has denied any role in the alleged pretexting and says it has found no evidence to support claims that it was involved. The allegations, made by Mr. Einhorn in two letters to Allied’s board suggest that getting the phone records under pretext may have been an effort to root out relationships and silence critics.

Full details into this situation, and the Greenlight-Allied dispute can be found in the full article at http://www.nytimes.com/2006/11/08/business/08hedge.html?_r=1&pagewanted=print&oref=slogin

Before dismissing the application, Judge Ground noted said that Greenlight Capital, in its efforts to steer MI onto a different course, behaved in an unsportsmanlike manner. The Greenlight Group surreptitiously taped telephone calls, filed a complaint letter with the Ontario Securities Commission without giving MI any notice, threatened to take board members to court and made misleading statements to shareholders.

In October 2006 MI Developments Inc (parent company of Magna Entertainment Corp) announced that Justice J.D. Ground of the Ontario Superior Court of Justice had dismissed the oppression application filed by Greenlight Capital, Inc. and certain hedge funds managed by Greenlight against MID. The lawsuit in the Ontario Superior Court was the culmination of an 18-month effort by Greenlight to force radical changes in the way the companies are operated and Mr. Stronach’s role in them. Greenlight asked the court to force MI Developments to sell the MEC stake, turn the real estate company into an investment trust, convert Mr. Stronach’s multiple-vote shares into single shares and order him to compensate MI Developments for expenses incurred during a failed bid to take MEC private. The hedge funds argued founder Frank Stronach was using his undue influence to turn MI into a financing vehicle for his Magna Entertainment Corp. An appellate court confirmed this ruling in July 2008.

In August 2006 Cheryl Einhorn presented, as a gift from the Einhorn Family Charitable Trust to her husband, a $1 million donation to launch the Milwaukee Urban Debate League.

In August 2006 Einhorn placed 18th in the World Series of Poker, and won $659,730, which he later donated to the Michael J. Fox Foundation.

In May 2006 New Century Financial Corp.’s shareholders approved a plan to make an exception to the 9.8% ownership limit in the company’s charter and let Greenlight Capital Inc. increase its stake to as much as 19.6%.

In May 2006 Einhorn said that Microsoft Corp. chief executive officer Steve Ballmer should step up the company’s stock buyback to $75 billion.

He has been on the board of directors of New Century Financial Corporation since March 2006, after New Century agreed to add an 11th seat to the board in return for calling off a proxy fight.

A January 2006 article reported that Elliot Spitzer, New York State’s attorney general who was running for governor, received a number of contributions from hedge funds. David Einhorn of Greenlight Capital, along with his wife, gave $100,000.

In May of 2005, Greenlight Capital took a shot at New Century, a sub prime mortgage lender, saying the company’s executives haven’t done enough to boost the stock. David Einhorn went so far as to call the company’s strategy a failure. Greenlight was the largest shareholder at the time, with 9% of the company stock.

In May of 2005, Magna International Development defeated a motion to sell off its Magna Entertainment company and convert the firm to a real estate investment trust. The motion was brought forward by David Einhorn of Greenlight Capital, which owns about 10% of MID. Einhorn’s motion was supported overwhelmingly by MID’s class-A shareholders but the company chairman used class-B share votes to defeat the motion. Einhorn was hoping the company would drop its less profitable Magna Entertainment branch, which is involved in horse racing. At one shareholder meeting in 2005, David Einhorn compared MID president Frank Stronach to Cuban dictator Fidel Castro.

In 2003, Greenlight Capital started a proxy fight with Mercer International, a pulp-and-paper mill company in Germany. Greenlight executives state that the company’s board is in disarray and that the company is performing poorly. They also state that the company president and CEO have too many conflicts of interest. Mercer, on the other hand, believes that Greenlight has other motives and that the proxy fight is disrupting the company at a critical time.

In 2002, David Einhorn and Greenlight Capital were involved in a battle with Allied Capital, a company they had invested in. Einhorn started the fight by presenting Allied Capital as his short idea at the Ira W. Sohn investment conference, a charity event to raise money for cancer. He stated that Allied’s accounting was dubious and misleading. The day after the presentation Allied stock fell 11%. Allied has denied all of Einhorn’s charges and also states that David Einhorn is spreading misinformation in an effort to bury the stock price. Yet, in 2004, it was announced that the SEC had begun an informal investigation, looking specifically at the company’s accounting practice.

In 2003, David Einhorn placed the winning bid for the privilege to have lunch with investing guru, Warren Buffett. Einhorn bid $250,100, which will be donated to the Glide Foundation, a San Francisco organization that aids the homeless and poor. Einhorn and his wife dined at a steak house in NYC with Mr. Buffett and claimed the dinner was a “once-in-lifetime opportunity.”

In 2001, David Einhorn and Greenlight Capital released a report on CompuCredit, a sub prime lender in Atlanta, GA. Einhorn estimates that CompuCredit has overstated by $67 million the cumulative $153 million in net income. Greenlight was short the company’s stock at the time. A representative for the company stated, “shorts are trying to do anything to push our stock price down.”

In 2000, Greenlight Capital made a bid to buy BNC Mortgage Inc. for $56.1 million. After reviewing BNC’s financial records, Greenlight ”decided not to proceed with the proposed transaction.”

David Einhorn, graduated from Nicolet High in 1987, and his parents and other family members continue to live in the Milwaukee area. He started Greenlight in 1996 with $1 million.

Cheryl Beth Strauss and David Michael Einhorn announced their engagement on July 25, 1993.

Einhorn is on the Board of Directors at the Michael J. Fox Foundation.

Bommer, Scott Alan of SAB Capital Advisors, LLC

Scott Alan Bommer of SAB Capital Advisors, LLC

Media Releases

Scott Bommer founded SAB and is the manager. He had been at McKinsey & Company and then a portfolio manager at Siegler, Collery from 1995 through 1998.

Donya Archer of “Good Day Philadelphia” left town to be with her then fiance, hedge-fund manager, Scott Bommer, in New York City. They were married in Santa Monica, Calif., near Donya’s hometown of Los Angeles on Aug. 24, 2002.

Scott Bommer led the fund-raising effort for the Stanford University 1998 10th reunion as the fund-raising chair.

Craig Huff, a member of the board of directors of Enhanced Capital Partners, helped develop SAB Capital.

SAB Capital Management contributed in 2003 to Hedge Fund Care.

In a Barron’s May 24, 2004 article, Scott Bommer was featured at the annual Ira W. Sohn Investment Research Conference, as one of the sharpest stockpickers around.

A June 4, 2004 article said that Virginia Retirement System (VRS) Board of Trustees invested $35 million in SAB Capital Management. VRS is a successful fund. Since the beginning of the financial year, the entire fund’s performance has been in double digits.

Rothschild, Nathaniel of Atticus Capital, LLC

Nathaniel Rothschild of Atticus Capital, LLC

Media Releases

In April of 1993, it was reported that Nathaniel Rothschild was fined $3,000 in London for drunken driving. At the time, Mr. Rothschild was a 21-year-old Oxford University student.

Nathaniel Rothschild is the son of Lord Rothschild and is heir of the Rothschild family fortune, estimated at $620 million.

Harvard University lists Nathaniel Rothschild as a member of the Belfer Center’s International Council at Harvard’s John F. Kennedy School of Government.

In June of 2002, it was reported that Nathaniel Rothschild had been dating Donald Trump’s daughter, 19-year-old Ivanka Trump. At the time, Nathaniel was 31 years old. Rumors also swirled that he had been dating former model Tilly Boone.

From 1995-1997, Nathaniel Rothschild was married to an actress, Annabelle Neilson. They divorced after 2 years.

Biography information states that Nathaniel Rothschild began his career at Lazard Investors before moving on to Gleacher & Company. He is also a non-executive director at RIT Capital.

In August of 2005 it was announced that Nathaniel Rothschild and Sandor Csanyi had acquired a combined 25% stake in TriGránit Rt.

In 1999, it was reported that Nathaniel Rothschild was on the board of directors at Champps Entertainment.

In 2004, Nathaniel Rothschild was listed as the Chairman of Vivarte SA, a retail group in France.

In 2000, Nat Rothschild was the owner of 33 percent of a French shoe retailer called Andre. At the time he was attempting to remove some members from the board.

In 2001, it was announced that Bill Clinton had recently rented out an apartment in NYC in the same building as Nathaniel Rothschild.

Rabinowitz, Andrew Howard of Marathon Asset Management, LLC

Andrew Howard Rabinowitz of Marathon Asset Management, LLC

Rabinowitz, Andrew Howard

Media Releases

In November of 2009, as an event sponsored by the Jewish Enrichment Series, Bruce Richards and Andrew Rabinowitz hosted an evening event, at which they discussed Marathon’s work and best practices.

In July of 2009, it was announced that Marathon Asset Management LP would be part of the Treasury Department’s Private-Public Investment Program. They were one of nine. Andrew Rabinowitz expressed that it was Marathon’s reputation which helped it qualify for the Treasury program. In a separate article regarding this same issue, Mr. Rabinowitz is quoted, “Marathon is excited and looks forward to managing assets on behalf of the U.S. Treasury.”

An article from June of 2009 identifies Andrew Rabinowitz as the COO, CFO, Secretary, and Treasurer of Marathon Real Estate Finance Inc.

In April of 2009, Andrew Rabinowitz remarks that in response to investor requests, Marathon has added more graphics, sector analysis, and attribution analysis to reports.

In February of 2009, R Baby Foundation announced that registration had begun for its First Annual Mother’s Day Run/Walk. R Baby Foundation, which is dedicated to reducing the high level of infant mortality in the U.S., was founded by Andrew and Phyllis Rabinowitz in 2006. The Rabinowitzes established the foundation in honor of their daughter Rebecca Ava Rabinowitz, who died when she was nine days old as a result of an undiagnosed viral infection.

In January of 2009, Andrew Rabinowitz, along with four others, was named Partner at Marathon Asset Management LP.

In an interview given in January of 2009, Andrew Rabinowitz remarked that Marathon’s strategy would continue to reflect a greater proportion of more liquid, high-quality credits and would evolve into a highly selective approach to invest in the higher-yielding, deeper distressed opportunities later in the distressed cycle.

An article from May of 2008 identifies Andrew Rabinowitz as the chief operating officer of Marathon Asset Management. At the time, Marathon was launching The Marathon Corporate Credit Partners LLP fund, which would invest in distressed and discounted debt. Regarding this, Andrew Rabinowitz noted that the recent distress in credit markets has led to some good opportunities and that Marathon felt like it could pluck good assets that were being sold not because of anything to do with the underlying investment but because the holder did not want to own assets of that class.

In May of 2007, following the death of Andrew and Phyllis Rabinowitz’s daughter, Rebecca, when she was just nine days old, New Jersey lawmakers began considering legislation to require the state’s 10 children’s hospitals to have a pediatric emergency physician constantly on duty in emergency departments.

R Baby Foundation announced in February of 2007 that it is one of three charities selected by Marex Financial and Marex Carlton to be a beneficiary of Marex’s first annual Charity Day, to be held February 28, 2007. Marex agreed to donate all brokerage income generated that day across its product lines equally between three registered charities: R Baby Foundation, Make-A-Wish Foundation@ UK, and The Greater London Fund For The Blind. Andrew Rabinowitz is quoted, “We are incredibly honored that Marex has included R Baby Foundation in this incredible day of giving and extremely grateful to them for the donation to R Baby that will result.”

In January of 2007, Andrew and Phyllis Rabinowitz filed a suit against Dr. Lynn Reyman alleging that the Doctor had acted negligently when failing to admit the Rabinowitzes pre-mature and ill child, Rebecca Ava Rabinowitz to the hospital. Rebecca was 6 days old when the Rabinowitzes took her to the emergency room when she appeared to be in respiratory distress. In spite of the urgings of the Rabinowitzes, Dr. Reyman, who they later learned was not experienced in pediatric medicine, insisted they were being “neurotic and overprotective” and declined to admit Rebecca to the hospital, claiming instead that Rebecca suffered from a common cold. Rebecca died two days later. The Rabinowitzes contended in the lawsuit that Dr. Reyman’s refusal to admit Rebecca to the hospital was a proximate cause of her death.

In June of 2007, depositions were held in the above-mentioned case. According to the deposition transcript, Andrew Rabinowitz said he called the chief of police in Millburn as soon as his daughter died because he believed the defendants’ failure to treat her amounted to negligent homicide. With the issue of negligent homicide on the table, the defendants’ attorney, Judith A. Wahrenberger, proceeded to ask Mr. Rabinowitz what he thought might have happened to the baby, whether he felt the couple’s baby nurse or nanny had committed negligent homicide and whether his wife had been involved in the death. When Ms. Wahrenberger was asked to stop her line of questioning, she insisted she was obligated to pursue the issue because it had been raised and because autopsy results showed the baby had a subarachnoid brain hemorrhage, which can be a sign of shaken-baby syndrome. As a result of this incident, an emotional distress suit was filed against Ms. Wahrenberger and her firm by the Rabinowitz’s attorney, Nagel, on their behalf.

Andrew Rabinowitz and his wife, Phyllis Rabinowitz are Co-presidents on the Board of Trustees for R Baby Foundation. The website may be viewed at the following link: http://www.rbabyfoundation.org/about-board.php.

Andrew Rabinowitz gave an interview about R Baby Foundation to CBS. An audio of the interview may be heard at the following link: http://www.rbabyfoundation.com/video/CBS-Interview-09-0319.html.