DAVID EINHORN is the president of Greenlight Capital, which he cofounded in January 1996. Greenlight Capital is a value-oriented investment advisor whose goal is to achieve high absolute rates of return while minimizing the risk of capital loss. Einhorn is the Chairman of Board of Greenlight Capital RE and also serves on the boards of Hillel; The Michael J. Fox Foundation for Parkinson's Research; and of the Robin Hood Foundation.

• Foreword xiAllied Capital Stock Price Chart xivWho’s Who xviiIntroduction to This Edition xxiIntroduction: The Spark of a Speech 1Part One: A Charity Case and Greenlight CapitalChapter 1 Before Greenlight 9Chapter 2 Getting the “Greenlight” 13Chapter 3 Greenlight’s Early Successes 23Chapter 4 Value Investing through the Internet Bubble 33Chapter 5 Dissecting Allied Capital 43Part Two: Spinning So Fast Leaves Most People DizzyChapter 6 Allied Talks Back 55Chapter 7 Wall Street Analysts 65Chapter 8 The You-Have-Got-to-Be-Kidding-Me Method of Accounting 73Chapter 9 Fact—or Maybe Not 81Chapter 10 Business Loan Express 97Chapter 11 Disengaging and Re-engaging 105Chapter 12 Me or Your Lyin’ Eyes? 111Chapter 13 Debates and Manipulations 121Chapter 14 Rewarding Shareholders 127Chapter 15 BLX Is Worth What, Exactly? 135Part Three: Would Somebody, Anybody, Wake Up?Chapter 16 The Government Investigates 145Chapter 17 A Tough Morning 157Chapter 18 A Spinner, a Scribe, and a Scholar 165Chapter 19 Kroll Digs Deeper 171Chapter 20 Rousing the Authorities 179Chapter 21 A $9 Million Game of Three-Card Monte 193Part Four: How the System Works (and Doesn’t)Chapter 22 Hello, Who’s There? 213Chapter 23 Whistle-Blower 223Chapter 24 A Naked Attack 237Chapter 25 Another Loan Program, Another Fraud 245Chapter 26 The Smell of Politics 255Chapter 27 Insiders Getting the Money Out 265Part Five: Greenlight Was Right ... Carry OnChapter 28 Charges and Denials 275Chapter 29 Charges and Admissions 283Chapter 30 Late Innings 297Chapter 31 The SEC Finds a Spot under the Rug 311Chapter 32 A Garden of Weeds 319Chapter 33 A Conviction, a Hearing, and a Dismissal 331Chapter 34 Blind Men, Elephants, Möbius Strips, and Moral Hazards 351Part Six: EpilogueChapter 35 Looking Back: As the Story Continued 359Chapter 36 The Lehman Brothers Saga 361Chapter 37 If They Asked Me, I Could Write a Book 367Chapter 38 Just Put Your Lips Together and Blow 377Chapter 39 Some Final Words to and from the SEC 387Chapter 40 The Last Word 397Glossary 401Acknowledgments 407About the Author 409Index 411

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