Lehman (LEH): When Will Fuld Show Us What's Really In His Hand?

08/19/08 04:17PM EDT
Did he lie? Did he fib? Did he know? Do we care?

Accountability has not been part of the leadership equation here. Transparency was not part of the Fuld business model either. There is officially no love for the "Level 3 Asset" scheme, and now Fuld wants to sell the Street real estate and Neuberger Berman?

He may very well do that, and at the same time, the Street is selling his stock. Down another -13% today. That's an unlucky number. Luck may not save the day here anyway. Ever play ‘Monopoly’ against someone who is levered up and forced to sell assets?

KM
  • LEH support? $11.35 looks like next stop
Chart courtesy of StockCharts.com
© 2020 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.