Famed short-seller Feshbach says market morality has shifted
By Chris Clair
Wednesday, April 02, 2014
Matt Feshbach, who in the 1980s founded the first short-only hedge fund, says investors today are going after companies that are neither fraudulent nor candidates for bankruptcy. In an interview with Reuters Rhonda Schaffler about the Okyanos Heart Institute, Feshbach says, "I used to love short selling and we felt we actually created a lot of market efficiencies and, in fact, there is a Congressional subcommittee that studied short selling and that's what they came out with and they primarily studied Feshbach Brothers. But today you read a lot about companies that are accused of fraud that may not really have fraud. You hear of companies that should go bankrupt that maybe aren't bankruptcy candidates. And I felt that the moral level of the community I was in had shifted and that didn't really impress me"
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