The world’s most feared short-seller Carson Block has moved onto his next target
Carson Block rose to prominence in 2011 with a report accusing Sino-Forest, a Canadian-listed Chinese forestry company of overstating their timber holdings.
The stock plunged 78% in days.
Perhaps more importantly for Block, he bested legendary wall street figure and hedge funder John Paulson who lost $110m during the event.
Block is famous, or perhaps infamous for sniffing out stocks trading on suspiciously high valuations, and then betting against them. He discovered a string of fraudulent Chinese organisations during his early career which encouraged Block to co-write the book; “Doing Business In China For Dummies”.
His most recent target is one of London’s best stocks; Burford Capital, a litigation finance specialist.
After Block launched the bear attack on Burford, they lost around $1.2bn in a day when shares crashed 60% after it was widely reported that Block was short.
This is the kind of influential fear Carson Block can generate due to his reputation and track record.
Burford were naturally not please and called Blocks influence; “A fundamental menace to an orderly market.”
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