High-profile short-seller takes aim at five Canadian companies
LUKE KAWA, 05 October 2016
Twenty five minutes into a profanity-ridden presentation at Jim Grant’s Fall 2016 Investing Conference in New York City, Marc Cohodes paused his speech to don a red jacket emblazoned with a maple leaf on the right breast.
So attired, the short seller proceeded to launch into his bearish theses for the collection of Canadian companies he’s betting against.
Mr. Cohodes, the former managing general partner at Copper River Management and current chicken farmer at Alder Lane Farm in California, revisited the cases for why he’s short Valeant Pharmaceuticals Inc., The Intertain Group Ltd., Concordia International Corp., and Home Capital Group Inc.
At the conference on Tuesday, he unveiled a short position in Equitable Group Inc., a Toronto-based provider of mortgage financing. The company disputes Mr. Cohodes’s claims about its vulnerabilities.