Stunning Herb Greenberg Admission

[valuesource]

Obviously several of his bad calls are missing.  And while we're at it we may as well add that Herb doesn't do his own research.

 

http://www.thestreet.mobi/story/12622083/1/greenberg-my-worst-mistakes.html?utm_content=buffer6906d&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

[Parsad]

Obviously several of his bad calls are missing.  And while we're at it we may as well add that Herb doesn't do his own research.

 

http://www.thestreet.mobi/story/12622083/1/greenberg-my-worst-mistakes.html?utm_content=buffer6906d&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

I would have preferred to see him say he was wrong on Fairfax Financial.  He told me flat to my face at the very first Value Investing Conference in New York that he had not read Fairfax's quarterly or annual reports, but that he relied on two very good sources who did their research...hmm, can you guess who they were...one's dead and the other writes a blog!

 

How the worst miscreant journalists escaped Fairfax's wrath in their lawsuit, I don't know.  Yes, they would have hid behind the Fifth Amendment, but if you are going to blow $200M on a lawsuit, might as well go after the journalists too, and make them or their publisher fork out legal fees defending them.  Really disappointed Fairfax didn't go after these guys too!  Cheers!

[tiddman]

I like how he made it sound like a big confessional, but then didn't actually admit his worst mistakes, and compared himself to Warren Buffett in the process.  Hubris exceeds humility.

[Guest longinvestor]

Obviously several of his bad calls are missing.  And while we're at it we may as well add that Herb doesn't do his own research.

 

http://www.thestreet.mobi/story/12622083/1/greenberg-my-worst-mistakes.html?utm_content=buffer6906d&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

I would have preferred to see him say he was wrong on Fairfax Financial.  He told me flat to my face at the very first Value Investing Conference in New York that he had not read Fairfax's quarterly or annual reports, but that he relied on two very good sources who did their research...hmm, can you guess who they were...one's dead and the other writes a blog!

 

How the worst miscreant journalists escaped Fairfax's wrath in their lawsuit, I don't know.  Yes, they would have hid behind the Fifth Amendment, but if you are going to blow $200M on a lawsuit, might as well go after the journalists too, and make them or their publisher fork out legal fees defending them.  Really disappointed Fairfax didn't go after these guys too!  Cheers!

 

+1. The rest of his cronies worked underground. Herbie was vocally public, in a sense, lending a mouth of credence to the short cabal. Yes, I would have liked him to not just admit that he was wrong about Fairfax Financial but apologize for being on the wrong side, with the wrong guys who now have been exposed as fraudsters. Herbie has done nothing like that in this blog.