Muddy Waters Research CEO/founder Carson Block spoke to accounting students at Baruch College on Wednesday afternoon about short-selling.
Block is famous for targeting Chinese companies he believes are frauds.
He’s best known for his takedown of Sino-Forest, which ultimately led hedge fund billionaire John Paulson to lose millions and eventually sell out of the stock. Sino-Forest, which Block said was overstating its timber holdings, eventually ended up filing for bankruptcy.
Block told students how he got into short-selling. He also shared some tips on how he conducts his research when looking for companies to short. Block said that short-selling is a difficult career right now.
We’ve included his deck in the slides that follow.
Here are some of his life lessons for college kids... He says you won't learn if you won't make mistakes. However, you want to try to only make small mistakes.
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