Einhorn Shorts St. Joe

Einhorn thinks St. Joe should be shorted because its book value overstates the true value of its assets. He claims that at best the shares, which currently trade for $22, are worth $10 in his VIC presentation.

This is just the latest salvo in an ongoing battle between Einhorn and others like Berkowitz and Whitman who are long the stock.

Broyhill has presented a detailed report defending the bullish thesis.