The Most Dangerous Trade: How Short Sellers Uncover Fraud, Keep Markets Honest, and Make and Lose Billions

HOW SHORT SELLERS PROFIT FROM DISASTERS THAT AFFLICT COMPANIES, MARKETS, AND NATIONS

"The natural state of a collapsing universe is the breaking down of order. Short sellers understand this and seek to profit from it."
—From the Preface

The Most Dangerous Trade puts high-profile short sellers under the microscope to examine their different investment styles, strategies, and tactics. Based on years of research (and hard-won interviews), award-winning journalist Richard Teitelbaum profiles more than a dozen short sellers including well-known investors such as James Chanos, William Ackman, Manuel Asensio, and Doug Kass. The author includes stories of both their winning investments as well as their financial missteps. The book shows how each short seller researches his or her targets, puts on a trade, and sees the investment through to riches—or failure.

The Most Dangerous Trade offers up a cornucopia of short-selling tales, including the greatest short sellers, the most notable trades, and roiling controversies.