“JR” of Jehoshaphat Research is back to present a completely different short thesis on Techtronic Industries (669 HK). Based on subsequent interviews and extensive boots-on-the-ground research, JR believes that Techtronic is systematically defrauding Home Depot, its largest customer. At the heart of its thesis, Jehoshaphat Research has found a pattern of mislabeling products that allows the company to take advantage of a loophole in its exclusivity agreement with Home Depot.
The crew is back from Institutional Investor’s award ceremony and Krista is still beaming from her nomination. Although she doesn’t quite remember the events of that night, Freddy reminds her that Boaz Weinstein robbed her of true fame, though we suspect the judges were taking a page out of the Clarence Thomas playbook. Carson broaches the topic that’s been on every investor’s radar: How to manage your portfolio around the unknown known event of a potential US default?
Carson Block of Muddy Waters Capital makes the short case on Chinook Therapeutics (KDNY). Muddy Waters argues that, upon further examination of trial data, its primary candidate for kidney disease, atrasentan, not only is inefficacious, but also shows an alarming rate of patient heart failure.
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