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Carson BlockAmerican businessman
Country:
 USA |
Content:
American businessman
Once upon a time, no one knew or heard of Carson Block; but now, just his name alone can give a heart attack to an unscrupulous entrepreneur. Carson Block is an American short-selling trader and the founder of the company 'Muddy Waters Research'. He is best known for his theories on questionable accounting practices in several publicly traded Chinese companies.
Childhood
Carson Block's childhood was spent in Summit, New Jersey. He obtained his education and law degree from the Chicago-Kent College of Law. Until recently, Block was a relatively unknown figure, and his name would hardly have sparked any serious interest among players in the American financial system.
The Rise of Muddy Waters
Everything changed when Carson Block and his company, 'Muddy Waters,' released a report accusing the Chinese timber company, 'Sino Forest,' of inflating its assets. The report caused a major uproar, and within a few days, the stock price of the accused company plummeted by 78%. Rumor has it that prominent businessman John Paulson, the largest shareholder of the company, suffered a loss of around $110 million. Block, however, did not stop there. He soon became a nightmare for the entire Chinese business sphere. 'Sino-Forest' was not the only target of Muddy Waters' dark analytical reports. To date, Block's company has targeted a total of 5 Chinese companies. In each of these 5 cases, the release of Block's report resulted in a significant drop in the stock price, and in some instances, the companies were delisted, like 'China MediaExpress Holdings.' 'Sino-Forest' and 'China MediaExpress' vehemently denied the fraud allegations, while 'Rino International,' an environmental equipment manufacturer, admitted to falsifying some of its contracts.
The Controversy
Carson Block's exposé activities are not well-received by everyone. Many accuse him of a form of blackmail, fear-mongering, and hunting down other firms for personal gain. According to many, Block is "suspiciously honest" for someone who declared war against corporate misconduct in the management sphere. Block completely denies any allegations of malice and claims that his actions are solely driven by the desire to protect investors.
Mysterious Life
Even now, as a quite popular figure, Carson Block prefers not to attract unnecessary attention to himself. It is known that he alternates between living in America and Hong Kong. However, the exact location of his residence is unknown to the general public, as Block has received several death threats. He also remains tight-lipped about the specifics of his business and whether he collaborates with external investors. Currently, Carson is the only permanent employee of 'Muddy Waters,' although he occasionally hires external researchers for certain projects.
Recognition
In 2011, Carson Block was recognized as one of the "50 Most Influential Thinkers in the World" by Bloomberg Markets magazine.
