Thursday, February 9, 2012

Wow, David Einhorn was short Diamond Foods but covered just a little too soon

From the Q4 letter dated Jan 17, 2012:

"We also closed out our short of Diamond Foods (DMND) which, while small, was one of the fastest performing shorts in our history."

As almost everyone knows, shares tanked 35% this week after the company said it would restate earnings for the last two years over its payments to walnut growers, and said it would appoint a new CEO and CFO.

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