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When fraud is too brazen it becomes difficult to believe the accusations because the claims are so outrageous. Especially when a company looks respectable and e
by gizmo 6y ago
When fraud is too brazen it becomes difficult to believe the accusations because the claims are so outrageous. Especially when a company looks respectable and employs many people the natural instinct is to dismiss the naysayers and critics.
Short sellers and investigative reporters are natural contrarians. There just aren't many people willing to invest years into proving that everybody else is wrong, especially when the victory -- if you get one at all -- will be pyrrhic.
When you make claims that are outside the overton window of the listener they can't hear what you're saying because to them you sound unhinged. I think that's what happened here.
- catalogia 6y ago>A Pyrrhic victory is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat. I don't think that term applies to short sellers or investigative reporters. When they win, they profit. John Carreyrou's career and reputation have surely seen a boost from his work on Theranos, no?
- saberdancer 6y agoYes, I believe the point was more toward BaFin and German authorities or investigators. It's interesting thing to realize, short sellers might be good control for the market.