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Valuations Haunt American Capital

Stock quotes in this article: ACAS , ALD , BXL  

It's no wonder the topic of valuation got a lot of play at American Capital's (ACAS Quote) annual investor day last week. The investment company continues to use some of the most questionable valuation methodologies in the public markets.

And it's why American Capital remains popular with short-sellers, with 15% of the stock sold short.

One of those short-sellers over the past year has been Greenlight Capital, headed by respected value investor David Einhorn, according to a person familiar with his thinking. Einhorn could not be reached for comment. ...

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