07-21-2010, 10:19 PM
Just got back from a dinner with the "Elite Hamptonites" portion of my wife's family. Three of the people were hedge fund managers and one of them was talking about being friends with Steve Eisman and how he was big on shorting for-profit education such as APOL and ESI. Steve Eisman is basically famous for making hundreds of millions by shorting the subprime mortgage market. He's also featured heavily in The Big Short, the newest book from Michael Lewis. I thought I was getting some insider info but when I came back I looked it up and its public knowledge so...meh. Here's a blog on it. The sophmoric response from the CEO of APOL has me convinced Eisman is right.
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In any event it's knowledge I wasn't aware of and will be my first attempt at shorting a stock.
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In any event it's knowledge I wasn't aware of and will be my first attempt at shorting a stock.