Steve Eisman, the hedge fund manager made famous by his starring role in Michael Lewis' The Big Short, is criticizing for-profit education companies. Eisman was probably the biggest winner from the subprime mortgage crisis. Eisman had bet billions on the fall of subprime mortgages - what he saw as a unsustainable industry taking advantage of its customers.
Now Eisman is lashing out against the stocks of for-profit schools saying, "Until recently, I thought that there would never again be an opportunity to be involved with an industry as socially destructive and morally bankrupt as the subprime mortgage industry. I was wrong. The for-profit education industry has proven equal to the task."
Stocks of education companies like Corinthian Colleges Inc and Education Management Corp were off on the announcement.
Hedge Fund Information, Hedge Fund Performance, Hedge Fund Lists, Hedge Fund Jobs, Hedge Fund Returns,regulation of Hedge Funds Hedge Fund Performance, and Fund of Funds, and Fund of Hedge Funds
No comments:
Post a Comment