In 2002, David Einhorn-one of the country's top investors-was asked at a charity investment conference to share his best investment advice. His response: short sell Allied Capital. At the time, Allied was a leader in the private financing industry with a reputation that had never been questioned. But Einhorn claimed Allied was using murky accounting practices to prop itself up. At the time of the original version of "Fooling Some of the People All of the Time", the outcome of his advice was unknown. Now, the story is complete and we know Einhorn was right. He was right again when in 2008 Einhorn advised the same conference to short sell Lehman Brothers. With a new and substantial epilogue, the paperback edition of "Fooling Some of the People All of the Time" provides a detailed conclusion to the gripping battle between Allied Capital and Einhorn s Greenlight Capital and describes how many parts of the Allied Capital story were replayed in the debate over Lehman Brothers.

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