Short Sellers, Hard Questions, and Big Gains

'Crisis Investing' Issue 8 / August 2025 – Vol 2

Dear Reader,

This month we're navigating both challenges and opportunities in the portfolio.

One of our recent recommendations has come under pressure from a short seller campaign, raising questions about both the mechanics of the attack and the company itself. We’ll walk you through what happened, address the main claims with our assessment, and outline our path forward.

At the same time, we're managing some welcome success elsewhere in the portfolio. The last month of summer in the Northern Hemisphere delivered solid gains, with two positions now at doubles—clear Casey Free Ride (CFR) candidates—and a third up nearly 80% and still moving on recent developments.

Managing risk and taking profits when you have them are fundamental to crisis investing. This month's events underscore the importance of both.

Let’s get into it.

Lau Vegys