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Wirecard

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  1. #31

    Join Date
    Jul 2011
    Posts
    1,680

    Carson Block describes the German problem as too much trust. Germany, nice, efficient, high quality, Mittelstands as family businesses. Everyone trusts everyone else, no questions asked. Leaves room for fraud or failure on a big scale because no-one asks questions as nobody can do wrong. See VW, Audi, Cum-Ex, DB, Wirecard, et al.

    shri likes this.

  2. #32

    Join Date
    Jan 2018
    Posts
    836

    No one knows where #2 is - bribed someone to fake the immigration records.

    “The investigation has now turned to the persons who made the false entries in the database, their motives, and their cohorts.”


    https://www.ft.com/content/4c1f3369-3f6a-4ca4-9e2b-6fd0a66ba1f8

  3. #33

    Join Date
    Jan 2018
    Posts
    836

    Jan Marsalek (Wirecard #2) is still missing, and the details about his activities are getting weirder.

    The classified papers held by Mr Marsalek included details of an investigation by the Organisation for the Prohibition of Chemical Weapons into the attack in Salisbury, in which former spy Sergei Skripal and his daughter Yulia were poisoned. The British government blamed the attack on two officers from Russia’s GRU military intelligence unit.
    https://www.ft.com/content/941a9a2e-...c-670bb7eb4d87
    shri likes this.

  4. #34

    Join Date
    Dec 2002
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    32,678

    In typical deal breaker fashion...

    https://dealbreaker.com/2020/07/bron...wirecard-short


  5. #35

    Join Date
    Sep 2019
    Posts
    2,892

    Timing really is very important for shorts, and yes, the hostile environment to truth doesn’t help.

    On the plus side, seems he has a portfolio of 200 shorts, so maybe he’s profitable on that basis, even if not the individual position. Puzzling to me though, if he was going to use a diversified approach rather than one of focused timing, why he wouldn’t at least use a long-short strategy. Maybe he does and I missed it in the article...


  6. #36

    Join Date
    Jan 2018
    Posts
    836

    Apparently Jim Chanos made $100m shorting wirecard - surprised it's not more given it's was 'one his largest positions'. Other companies he is shorting: Luckin, Tesla, WeWork, Uber, Lyft, Grubhub - gig economy stocks in general.https://www.ft.com/content/ccb46309-...a-ecb17ea0e9cf


  7. #37

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    Dec 2002
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