Billionaire shorts were the villains of the #Gamestop squeeze, accused running negative PR campaigns against beloved firms to drive them under and pay their bets off:
https://pluralistic.net/2021/01/30/meme-stocks/#stockstonks
But shorts can do the lord's work. Writing for *Bloomberg*, #KathyBurton tells of #NateAnderson, whose #HindenburgResesearch cost some of the world's wealthiest people over $99b by publishing investigative reports on their balance-sheet shell-games just this year:
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Anderson started off trying to earn a living as a #SEC whistleblower, identifying financial shenanigans and collecting the bounties on offer, but that didn't pan out. So he turned his forensic research skills to preparing mediagenic, viral reports on the scams underpinning the financial boasts of giant companies...after taking a short position in them.
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This year, Anderson's targets have included #CarlIcahn, whose company lost $17b in market cap after Anderson accused it of overvaluing its assets. He went after the world's fourth-richest man, #GautamAdani, accusing him of "accounting fraud and stock manipulation," wiping out 34% of his net worth. He took on #JackDorsey, whose payment processor #Square renamed itself #Block and went all in on the #cryptocurrency bezzle, lopping 16% off its share price.
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