The Unjust Prosecution of Andrew Left (Part 1)
A Los Angeles federal jury found activist short‑seller Andrew Left guilty on 13 of 17 counts of market manipulation and securities fraud, despite expert testimony that trading around truthful reports is not manipulation. Prosecutors highlighted a 2018 Nvidia tweet and alleged that Left used media appearances to profit quickly, while the defense argued that short‑selling norms and disclosed "may transact" language are industry standard. The conviction raises questions about the legality of catalyst‑based trading and the limits of free speech for market commentators. The case could set precedent for how activist short‑selling firms disclose and execute trades around their research.
Problems at Kinsale Capital Group (KNSL)
Kinsale Capital Group, a $7 billion surplus‑lines insurer, has drawn sharp criticism from short‑seller The Bear Cave. The firm alleges Kinsade overcharges small‑business clients, loads policies with extensive exclusions and maintains a 60% policy‑holder retention rate—far below the 90% norm for...
The Bear Cave #314
In this episode, The Bear Cave highlights a wave of new activist reports targeting Sterling Infrastructure, Nova Minerals, and Carvana, exposing alleged accounting inflation, data integrity issues, and opaque loan sales. The show also notes recent high‑profile CFO resignations at...
Problems at Yelp (YELP)
The episode dissects Yelp’s deteriorating business model, highlighting a sharp slowdown in revenue growth and a recent year‑over‑year decline driven by weaker ad clicks and economic uncertainty. It argues that a toxic sales culture, high‑pressure outbound tactics, and a disgruntled...