Short-seller Carson Block was the headline speaker at this year's London Sohn conference, held in person on November 16th.
The founder of Muddy Waters Research is best known for documenting fraudulent accounting practices and calling out companies with aggressive accounting techniques.
And he didn't disappoint.
Q3 2022 hedge fund letters, conferences and more
Fraud in the Payments Space
Block used his appearance at the conference to announce a new short position in the payment processor Dlocal (NASDAQ: DLO).
He didn't pull any punches stating almost immediately, “we think it's a fraud.”
On the face of it, this business is growing rapidly. It reported a take rate (the percentage of profit on each transaction processed) of 4.1% in the third quarter and annual recurring revenue...
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