Head of Macro
What is your take?
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I will reserve some judgement and I hate to speculate because we don't really know what words were spoken behind closed doors. But my initial take is that this is some combination of social unawareness / ineptitude and attention seeking. Bizarre yet entertaining; making such a fuss about it cannot possibly be a good professional maneuver.
Interesting to see so many people on Einhorn’s side. There are emails showing Greenlight’s COO referring to him as head of macro, and Fishback’s title on a conference brochure was Head of Macro. If you see Shkreli’s Twitter, he also claims that Fishback had trading authorization at Greenlight, one of two at the firm (the other being Einhorn himself). I give the edge to Fishback, while the Twitter consensus seems to be boot licking the billionaire. No wonder why even the pros lose money in this biz - they’re not nearly as intellectually honest as they think they are.
I am a bit biased however as I have been in a similar situation. Pretty dumb move to try and publicly debate the guy you’re suing/being sued by though.
The guy is a moron for trying to grab more title based off an email and title that an investment bank used at a conference, and why would noted securities fraudster Shrkeli have any sort of relevant incremental information about what going on at Greenlight? Unless there was an internal memo stating that he was being promoting to be “Head of Macro” then introducing someone as the head of [ ] does not actually mean that’s their title, it just means that for the context of the email he said it to make them seem more credible. I’m the only sector investor at our fund but I still wouldn’t say that I’m the “Head of [sector] Investing”, I can tell prospective investors that I’m the only person trading [sector] and inflate my importance some but unless it’s an official title (in an offer letter or internally recognized as an actual additional title) then my employer will be upset for trying to grab too much. This moron was probably trying to get into a role that he’s not actually qualified for and tried to pull a power move by inflating his title (and his head) and now he’s getting called out for it and acting like a little bitch. It’s honestly hilarious and could’ve been so easily avoided by just NOT airing out his dirty laundry on social media. Like who the hell would want to hire you now after this?
Sorry to hear that happened but if things ended poorly (and if it was actually something you did) then trying to overinflate your title was really dumb. He introduced you as an analyst to save face and give you some exposure vs. introducing you as a frickin intern, that doesn’t make you an actual analyst unless he told you that you were in fact an analyst.
Also, don’t ever let someone do a reference check if it doesn’t end particularly well. Zero upside and you telling your new future employer that it didn’t end well for x reasons is a totally valid response and as long as you have other references then they’ll just move to the next ones.
Delete
One more for good measure, if you want to be taken seriously as a “head of macro” vs. playing dress up in daddy’s clothes then maybe don’t get on social media and challenge your former boss and industry legend to debate a single stock based on your view that your boss doesn’t properly value AuToMaTiOn. Super good macro work chief, really showing off your big brain
Or better yet, just dont try passing as “head of macro” for a firm that does not do / is not known for macro…
They do macro, it’s just consistently a headwind to returns lol
Einhorn / greenlight should focus on what he’s good at (fundamental investing) and leave macro to the tea leaf readers. Idk why anyone leaves money there it seems like obvious style drift to me. And his returns reflect the lack of focus. Seriously dogshit at this point and then blames it on the market being wrong or misvaluing things. He’s more successful than I’ll ever be but think his ego has gotten in the way of long term track record.
but yea this Fishback dude seems like a total moron who’s just trying to get cloud hoping it will help the fundraise for his subscale fund (it won’t, any credible LP now even less likely to come in)
Starts and ends with what was on his contract.
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