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☆ Muddy Waters' Carson Block on why he's shorting Fairfax Financial
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMuddy Waters' Carson Block on why he's shorting Fairfax FinancialCarson Block, Muddy Waters Research founder, joins 'Squawk Box' to announce a new short on Fairfax Financial, why he's shorting the company, and more.

Persons: Carson, Fairfax Financial Carson, he's Organizations: Fairfax Financial, Muddy Waters Research

☆ Uncle Sam cleverly goes long on short sellers
▼ + stars: | 2023-11-15 | by ( John Foley | ) www.reuters.com time to read: +4 min

The United States is a rare place where financial regulators hand out cash for information that leads to successful enforcement. Moreover, the rewards are not just for corporate insiders, but also short sellers. In 2019, the SEC doled out $60 million, a sum it has already exceeded nearly five-fold this year. Skeptical investors – notwithstanding their sleuthing skills – generally trade on information regulators could in theory find themselves. Short sellers aren’t always welcome, but some are undeniably being put to good use.

Persons: Julia Nikhinson, Carson Block, Kyle Bass, Waters, It’s, aren’t, ”, Jeffrey Goldfarb, Sharon Lam Organizations: U.S, Capitol, Congress, REUTERS, Reuters, U.S . Securities, Exchange Commission, Hayman Capital, SEC, Bloomberg, Futures Trading Commission, European, Harvard University, Workers, Thomson Locations: Washington , U.S, United States

☆ We've already seen a few shorts in the 'fake' AI space, says Muddy Waters' Block
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've already seen a few shorts in the 'fake' AI space, says Muddy Waters' BlockMuddy Waters Research founder Carson Block joins 'Squawk on the Street' to discuss his thoughts ahead of the Robin Hood conference, whether the universe of ideas is getting smaller, and more.

Persons: Muddy Waters, Carson Block, Robin Hood Organizations: Muddy Waters Research

☆ 4 banks have collapsed in less than a month. Here's what Jerome Powell, Nouriel Roubini, Elon Musk and others are saying about the turmoil.
▼ + stars: | 2023-03-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

In less than a month, Silvergate, Silicon Valley Bank, Signature Bank, and Credit Suisse have collapsed. Jerome Powell, Nouriel Roubini, Elon Musk, and others have shared their views on the turmoil. Experts have pointed to the Federal Reserve's aggressive rate hikes over the past year as a driver for the turmoil. Jerome PowellFollowing the announcement of a 25-basis-point rate hike, the Fed chief said all depositors' savings are safe, adding that US banking system is "strong and resilient." Elon MuskThe billionaire Tesla and Twitter chief sees danger ahead for the US economy if the Fed doesn't contain the crisis among regional banks.

It is rare for investors to take short positions in securities of Indian companies. Securities rules in India also make it hard to quietly build short positions. Institutional investors are obliged to disclose their short positions upfront and there are other restrictions and registration requirements on foreign investors. In Adani, for example, Hindenburg held the short positions through U.S.-traded bonds and non-Indian-traded derivatives. China's strict investment rules make it all but impossible to take short positions in domestic-listed Chinese stocks from overseas.

[1/2] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. On Wednesday, a $2.5 billion sale of shares by one of its companies Adani Enterprises ADEL.NS was called off. Adani Group and the stock market regulator the Securities and Exchange Board of India (SEBI) did not respond to a request for comment. Cracking the code of how Hindenburg did the trade could lead to more short sellers taking positions against Indian companies, which have been rare, analysts said. But several bankers familiar with trading in Indian securities said the more profitable piece of the short seller’s bet would likely lie in the derivative trades it had placed.

☆ Barbarians at the check-in desk
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

While Vivion’s equity is unlisted, Muddy Waters was betting against its debt. The price of bonds due in 2024 fell to 72% of face value after Block’s report, according to Refinitiv data. Vivion contends that Muddy Waters has overestimated the number of vacant properties, and that its shareholders have put cash in the company in recent years, not taken it out. If so, though, Vivion could always step up its purchase of its own debt at the current low prices. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ For bear stock pickers, 2023 is full of rich pickings
▼ + stars: | 2022-12-16 | by ( Nell Mackenzie | ) www.reuters.com time to read: +6 min

[1/2] Carson Block, Chief Investment Officer, Muddy Waters Capital LLC., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. Hedge fund Muddy Waters on Wednesday said it was shorting Vivion Investments, suspecting the real estate investment firm's portfolios were overvalued. Since the 2007-2008 global financial crisis, companies have pushed aggressive accounting to its limits, said Muddy Waters CEO Carson Block. People are milking the system," he said, adding that he expects even more aggressive accounting and fraud in 2023. Tighter monetary conditions and less readily available debt means investors will likely scrutinise company cash generation in 2023, Earl said.

☆ China's COVID policy is top of mind for investors as unrest rattled markets this week. Here are 5 things they're watching as Beijing signals willingness to loosen some restrictions.
▼ + stars: | 2022-12-03 | by ( Carla Mozée | ) www.businessinsider.com time to read: +6 min

Chinese cities this week loosened COVID restrictions in the wake of mass protests, lifting Chinese stocks. China's top pandemic official this week appeared to signal a softening in the zero-COVID policy but the government has yet to pledge a comprehensive step-down. Retail investors should be prepared to move defensively should Beijing's decisions on zero-COVID policy go against their respective positions, Martin said. Here's what some market experts are looking at as global investors watch for developments surrounding the Chinese government's zero-COVID stance. "You have to understand that nobody has an edge as to predicting China policy anymore.

☆ Russian oil is still flowing in huge volumes even as EU sanctions and a price cap are less than a week away.
▼ + stars: | 2022-11-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

European governments still can't agree on a price cap for Russian oil even as the December 5 deadline is less than a week away. Poland, for example, is committed to a $30 price cap. Even with a price cap of, say, $65, it's unclear whether that can really make an impact, given that Russia's flagship crude oil — Urals grade crude — is trading 20% below that level already. Despite the West's repeated condemnation of Russia and President Vladimir Putin, Russia remains Europe's largest single refined oil products supplier. A) The West agrees to a price cap above $40B) The West agrees to a price cap below $40C) The West does not agree to any price capLet me know on Twitter (@philrosenn) or email me (prosen@insider.com).

☆ While Muddy Waters bets against dLocal, here are the other fintech stocks that short sellers are eyeing
▼ + stars: | 2022-11-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

While hedge fund Muddy Waters revealed a bet against payment processor dLocal , other short sellers appear to be eyeing several fintech companies. S3 Partners examined 66 stocks in the FINX fintech ETF for CNBC Pro and found $15.25 billion betting against the basket of stocks in total. Others might see structural headwinds for a company before it is fully reflected in the share price. Coinbase had a total of 27.53 million shares – or 18% of free-floating shares – betting against the share price. The fintech company, led by Twitter's co-founder Jack Dorsey, has seen its shares decline by 56.94% over this year.

☆ FTX collapse an example of ‘greed and FOMO,’ says short-seller Carson Block
▼ + stars: | 2022-11-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Carson Block, founder of short selling investment firm Muddy Waters, thinks the collapse of cryptocurrency exchange FTX under Sam Bankman-Fried is a "great example of greed and FOMO." Block told CNBC's "The Exchange" he had seen the business trajectory of the former billionaire and thought there was "obviously something wrong." Block is a crypto sceptic who described the recent surge into the industry as a bubble based on a "suspension of disbelief." His comments come amid a war of words in the crypto sphere as it grapples with the recent volatility. At an event hosted by CNBC on Thursday, Changpeng Zhao, founder of cryptocurrency exchange Binance, said he was "shocked" that Bankman-Fried "lied to everybody," and described his actions as "fraud."

☆ Watch CNBC's full interview with Muddy Water's Carson Block
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Muddy Water's Carson BlockCarson Block, Muddy Waters Research founder, joins 'The Exchange' to discuss the company's new short position in dLocal, how he discerns good faith and bad faith behavior and his take on recent news at FTX.

☆ We are concerned that payment processor dLocal is a fraud, says Muddy Water's Block
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are concerned that payment processor dLocal is a fraud, says Muddy Water's BlockCarson Block, Muddy Waters Research founder, joins 'The Exchange' to discuss the company's new short position in dLocal, how he discerns good faith and bad faith behavior and more.

☆ Short-seller Carson Block calls out ESG investing, says many companies are 'money grabs'
▼ + stars: | 2022-09-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Many popular companies dominating the ESG investing space are taking advantage of the U.S. government and investors, according to Carson Block, founder of Muddy Waters Research. "I would like to save the world," the famed short-seller said during an interview with "Squawk Box" outside CNBC's Delivering Alpha conference on Wednesday. ESG, or environmental, social and governance investing, incorporates a slew of non-financial factors potential shareholders utilize when looking to invest in companies. It's risen in popularity amid a drive toward green investing with companies like BlackRock hopping on the trend while also drawing its fair share of criticism. Block said a slew of companies he's shorted — including XL Fleet , Danimer Scientific and solar stock Sunrun — are "grifting in their own way" and misleading investors.

☆ Two of the most notable short sellers say this company is the aluminum siding of the 21st century
▼ + stars: | 2022-09-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Jim Chanos and Carson Block, two of Wall Street's biggest short sellers, fired shots at Sunrun , saying the residential solar company is not as "green" as many investors think. "This company is the aluminum siding of the 21st century for those who are old enough to know what I'm talking about," Chanos, founder of Kynikos Associates, said at CNBC's Delivering Alpha Investor Summit in New York City Wednesday. Aluminum re-sidings were prevalent in the 70s and 80s but they fell out of favor as the material was susceptible to scratches and dents. Muddy Waters Capital CIO Carson Block said he has a short position against Sunrun, taking issue with the way the company deals with tax subsidies from the government. "Muddy Waters has its 'facts' wrong.

☆ SunRun is the aluminum siding of the 21st century, says Jim Chanos
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSunRun is the aluminum siding of the 21st century, says Jim ChanosLegendary investor Jim Chanos and Carson Block, investor and founder of Muddy Waters Research, join CNBC's Dominic Chu at the Delivering Alpha conference to discuss investing in alternative energy given the focus following the Inflation Reduction Act.

☆ Jim Chanos: The fact there's a meltdown among Chinese developers is a major story
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Chanos: The fact there's a meltdown among Chinese developers is a major storyLegendary investor Jim Chanos and Carson Block, investor and founder of Muddy Waters Research, join CNBC's Dominic Chu at the Delivering Alpha conference to discuss the meltdown in the Chinese real estate market and how it should be a much bigger story than it is.

☆ SEC's whistleblower award decision 'incoherent, and lacking in transparency,' says short-seller researcher in suit
▼ + stars: | 2022-08-23 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

The existence of Barnes' lawsuit against the SEC, which has been pending under a pseudonym since April, hasn't previously been reported. SEC whistleblower matters are confidential, so Barnes' lawyers had asked the court to refer to him as "Jamie Doe." The name of the SEC whistleblower case — "In the Matter of Focus Media" — was unredacted at least once, as was the name of Grace, the enforcement lawyer. Barnes said in his lawsuit that he wasn't represented by a lawyer when he first requested a whistleblower award. Block and Barnes weren't named by the agency, and the connection only became clear after Barnes sued Block last month.

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