Article: The Dark Money Secretly Bankrolling Activist Short- Sellers — and the Insiders Trying to Expose It

Article - Media

The Dark Money Secretly Bankrolling Activist Short-Sellers — and the Insiders Trying to Expose It

Michelle Celarier

Institutional Investor, 30 November 2020

More than a dozen short-sellers interviewed by Institutional Investor in an effort to penetrate this murky terrain say there are numerous players and various permutations of the model that may involve the sharing of ideas and research along with either a cut of the gains on the short trade or a set fee. In fact, some short-sellers believe that almost all of the activists have such backing — even those running small hedge funds themselves.

Article: The Dark Money Secretly Bankrolling Activist Short-Sellers — and the Insiders Trying to Expose It

Article - Media, Publications

The Dark Money Secretly Bankrolling Activist Short-Sellers — and the Insiders Trying to Expose It

Michelle Celarier, 30 November 2020

John Fichthorn had been in the hedge fund business for more than 20 years when a half-hour phone call with a stranger put him on high alert. In December 2017, Fichthorn — a veteran short-seller and the founder of hedge fund Dialectic Capital Management — had joined the board of a troubled small-cap company called Health Insurance Innovations. But when he happened to mention its name to a prospective investor a year later, the man told him an alarming detail. Continue reading “Article: The Dark Money Secretly Bankrolling Activist Short-Sellers — and the Insiders Trying to Expose It”