A small but outspoken activist hedge fund manager is hoping to make a big splash next week with a Bill Ackman-style presentation on what it calls the "biggest stock promotion we've come across since Sino-Forest."
To get attention, Kerrisdale Capital released a fictional—and funny—video on the societal value of short sellers.
"I got long China's premier social-as-a-service platform for clean energy social networking. Cha-ching!" a distraught Wall Street trader says sarcastically. "There's no such thing as clean energy social networking in China. How was I supposed to know better? "
The answer, viewers are told, are heroic short sellers—investors who keep overvalued companies in check and are like "humanitarian aid for poor rich people."