When all the banks were reporting their first quarter result, leman brothers had a gain in their equity book when everybody else had losses. They ended up taking a billion dollar ride up in a private equity position at a time when really nothing positive was happening in the private equity markets. And then i think the market kind of started to catch on that leman had some problems, and they were starting to get a little more scrutiny from the analyst community. So between all those issues, we used that to call the c f o of lyman brothers and go through a list of questions. And as we went through the list, otil there were 13 or 14 things where they were unable to answer
In this episode of Infinite Loops we spoke with Chris Sommers, CEO at Unhedged. We discuss:
- Sailing the world for 4 years without knowing how to sail
- Chris’ experience at Greenlight Capital
- Shorting Lehman’s stock in 2008
- And much more…
Follow Chris on Twitter (https://twitter.com/QuisitiveInvest) and learn more about Unhedged here (https://www.unhedged.com/).