Carson Block Biography
Carson Block is an American businessman. He is a short-seller and the founder of Muddy Waters Research. Block is known for documenting and alleging fraudulent accounting practices in publicly traded Chinese companies. Carson obliterated $3-billion in market value from what was once the largest Canadian-listed forestry company.
Mr. Block has served as expensive tuition in the school of doing business in China. This gave him an advantage over other North American equity analysts trying to evaluate Chinese companies.
Carson Block Age
Block is 43 years old. Details of his birthday have not been disclosed as of now.
Carson Block Parents
Despite being a famous businessman Block has not much is known about his parents and family members. This information will be updated soon. He grew up in the wealthy Manhattan suburb of Summit, N.J. Was “No. 1 in class in parties hosted during junior and senior year,” he says.
Carson Block Education
In 1998, Block earned a business degree from the University of Southern California, where he also studied Chinese. Later in 2002-2005, he got a degree from Chicago-Kent College of Law.
Carson Block Career
A native of New Jersey, Block grew up in the equity research business, working holidays and later full time at his father’s firm, WAB Capital, which specializes in producing research reports on US “micro-cap” companies. After graduating Carson moved to Shanghai in the hope of establishing an equity research firm to cover the nascent Chinese stock markets.
In 1999 Block worked at the L.A. office of CIBC World Markets for seven months. He returned to his father’s business but later moved back to Shanghai in 2005 where he worked at the Jones Day law firm. Not to mention, Carson stayed in Shanghai to co-author Doing Business in China for Dummies.
Carson later quit at the end of 2006 due to his plans to set up a private banking business in Singapore. In 2008 he launched troubled Shanghai self-storage business, Love Box. After nearly three years he realized the chances of making it big in the opaque and cut-throat world of Chinese business were elusive at best.
Block says he left China because he was receiving death threats after issuing brutally negative reports on companies such as China MediaExpress (in 2011) and RINO International (in 2010).
In 2011, Block was ranked as a 50 Most Influential Thinker by Bloomberg Markets. In September 2017, Block initiated a private lawsuit against Equifax, accusing the latter of neglecting to safeguard his personally identifiable information.
Muddy Waters | Hedge Fund
His venture into a notorious short-seller began by chance when he visited Orient Paper at the behest of his father. After looking into the paper producer, he became convinced its reports to the American Stock Exchange contained falsehoods.
Block prepared a report. He published it on a new website he called Muddy Waters in June 2010, after taking a short position in the company’s shares with the kind of money that didn’t really matter. After sending the report the world changed tremendously for me,” Block says.
Orient Paper’s share price collapsed. The stock is still trading at about half the level it was at before the report. The company has vehemently denied the allegations and has published a report from its own audit committee, assisted by Deloitte Financial Advisory Services, which, after a four-month probe, found no evidence to support most of Muddy Waters’ claims.
Block’s report was noticed by some influential market players and soon he was on the lookout for other US-listed Chinese companies that he could sell short. In rapid succession, he published reports that led to the delisting of three large Chinese companies trading on US exchanges.
Carson hired 10 people, who dedicated two months to investigating and preparing the report, published in June last year. Since then, Muddy Waters has published an open letter to the management of Spreadtrum Communications, raising various “concerns”, and has initiated research with a “strong sell” recommendation on investor darling Focus Media.
In addition, Block’s attention these days is directed towards establishing a more sustainable business model for his company.
Muddy Water Performance
Block’s Muddy Waters Capital reportedly was up 20% in 2018. It’s not a bad result for what has been a brutal year for many equities traders. In addition, October was a bloodbath for stock markets, and few felt the pain like hedge funds, which turned in a rocky month for the ages.
Carson Block Wife
A famous businessman Carson is a married man. Furthermore, A report from South China Morning post also suggests that he is a father. Moreover, Details of his wife and children’s names have not been shared. This information will be updated soon.
Carson Block Net Worth
In January 2015, his firm Muddy Water raised an initial $100 million for its investment strategy. Block earns an average salary from being the founder of the firm. Although he has not disclosed the actual figure of his salary. Furthermore, His estimated net worth is currently under review.
Carson Block Books
- Doing Business In China for Dummies
Carson Block Movies
- The China Hustle Himself – 2017
- Maria Bartiromo’s Wall Street Himself – Founder, Muddy Waters Research – 2018
Carson Block Eureka Building
For more information on Block Email please click here.
Carson Block Tesla
Elon Musk isn’t being held accountable for his “mistruths,” and the Tesla CEO should list his company’s shares in Germany, where regulations are loose, short-seller and Musk critic Carson contended. Block published Friday an op-ed in Forbes called, “Why Elon Musk Should List Tesla Shares In Germany. ”
He argued, in part, that relisting Tesla’s shares in Germany could be favorable to Musk because “he can have regulatory carte blanche, and can tweet anything he wants with no retribution — no matter how fraudulent.