The Berkeley Fraud Fest 2021 is underway, and Jim Chanos of Kynikos Associates was one of the presenters on the first day. He took us through the major shorts of the last 12 months, starting with Wirecard, which he called "when Enron met sprockets."
Q1 2021 hedge fund letters, conferences and more
Wirecard
Chanos said Wirecard got on his radar in 2016 or 2017, and the Financial Times started reporting on fraud at the company. In October 2019, the news outlet backed up its reporting with a document dump, and short-sellers felt the story was pretty much over, but they were wrong.
Chanos noted that the stock "continued to gyrate and rally...
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