Economy

xchrom

(108,903 posts)

30. Mysterious firm that sank Spain’s Gowex says it is targeting the financial bad guys

Sun Jul 13, 2014, 07:24 AM

Jul 2014

http://elpais.com/elpais/2014/07/10/inenglish/1405005840_002611.html

Little by little, more details are emerging about Daniel Yu, the mysterious investor behind Gotham City Research, the analysis firm that uncovered the fraudulent accounts of Spanish free wi-fi firm Gowex.

Yu, who studied at the Massachusetts Institute of Technology (MIT), worked as an analyst for a hedge fund before becoming a short seller – an investor who borrows shares, sells them on the market and hopes to repurchase them at a lower price before returning them to their owner, with the price difference representing his own profit.

It appears that Yu, who fashions himself after comic-book superhero Batman, was driven by the most powerful force there is: revenge.

According to Bloomberg, which interviewed Yu prior to the publication of the Gowex report, the former lost money in 2008 after investing in failed US mortgage lender Freddie Mac, which was brought down by the subprime debacle.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

46 replies

= new reply since forum marked as read

Highlight:

Weekend Economists American Bad Boys Part 1 July 12-13, 2014 [View all] Demeter Jul 2014 OP

No New Bank Failure this Weekend Demeter Jul 2014 #1

Pretend Manufacturing In The Tax System Demeter Jul 2014 #2

Who Owns the U.S. Stock Market? By Pam Martens and Russ Martens Demeter Jul 2014 #3

Rapid Price Increases for Some Generic Drugs Catch Users by Surprise Demeter Jul 2014 #4

Banking Deaths: Why JPMorgan Stands Out Demeter Jul 2014 #5

Why Are TBTF Banks So Happy With The European Banking Union? antigop Jul 2014 #6

"Bad Boys" Musical Interlude: "Leader of the Pack" by the Shangri-las antigop Jul 2014 #7

Musical Interlude: "Mr. Wrong" by Mary J. Blige antigop Jul 2014 #8

"Raise a Little Hell" from "Bonnie and Clyde" antigop Jul 2014 #9

Thanks for the Music, antigop! Demeter Jul 2014 #15

My pleasure! Glad you liked them! nt antigop Jul 2014 #19

One more..."My Name" by bad boy Bill Sikes in "Oliver" antigop Jul 2014 #20

how could I forget.. "My Friends" from "Sweeney Todd" antigop Jul 2014 #21

Putin Slams US $9 Billion Fine Against French BNP As "Blackmail" For Russian Warship Deal MattSh Jul 2014 #10

I think it's also the last gasp of Empire--a temper tantrum, if you will Demeter Jul 2014 #16

Meanwhile, back in Kiev, (and elsewhere in Ukraine). MattSh Jul 2014 #11

I don't contest any of your assumptions Demeter Jul 2014 #14

There are a lot of pins out there DemReadingDU Jul 2014 #18

Some possibly WHY's... MattSh Jul 2014 #22

That's an insane chain of reasoning, you know Demeter Jul 2014 #39

bad boys lyrics (cops theme song) DemReadingDU Jul 2014 #12

When I watched the grandson 4mos-18mos he loved this song.. kickysnana Jul 2014 #13

Meanwhile--Some Jokes We Can Be In On (because they aren't crazy, like US foreign policy) Demeter Jul 2014 #17

WORKERS STRUGGLE IN HAMPTONS, PLAYGROUND FOR RICH xchrom Jul 2014 #23

OWNERS OF TRUMP PLAZA CASINO EXPECT IT WILL CLOSE xchrom Jul 2014 #24

Sounds like another bubble popping Demeter Jul 2014 #40

US GOV'T SETS DUTIES ON STEEL PIPE FROM KOREA xchrom Jul 2014 #25

This Map Shows Why The South China Sea Could Lead To The Next World War xchrom Jul 2014 #26

The Way Millionaires View Money Is Much Different From Everyone Else xchrom Jul 2014 #27

Where's the honesty? Demeter Jul 2014 #41

it's a puff piece for real. xchrom Jul 2014 #42

This Year's Deficit Will Probably Be The Smallest Since 2008 xchrom Jul 2014 #28

IMF doubles 2014 growth forecast for Spain in just six months xchrom Jul 2014 #29

Mysterious firm that sank Spain’s Gowex says it is targeting the financial bad guys xchrom Jul 2014 #30

Putin eyes Cuba as springboard for economic expansion into Latin America xchrom Jul 2014 #31

S&P 500 Has Worst Week Since April on Europe, Valuations xchrom Jul 2014 #32

Merkel Warns of Euro Fragility, Citing Portugal Turmoil xchrom Jul 2014 #33

World’s Richest Lose $33 Billion as Slim Plans Breakup xchrom Jul 2014 #34

U.S. Offered Berlin 'Five Eyes' Pact. Merkel Was Done With It xchrom Jul 2014 #35

Renaissance Said Probed by Senate Panel on Tax Maneuver{hedge fund} xchrom Jul 2014 #36

U.S. Steel Gains as Obama Sets Duties on Steel Imports xchrom Jul 2014 #37

Detroit Vote Deadline Sets Stage for Bankruptcy Showdown xchrom Jul 2014 #38

Crucial bankruptcy debt-cutting plan reportedly being approved by Detroit retirees Demeter Jul 2014 #43

U.S. stocks will be ‘very disappointing’ for 10 years Demeter Jul 2014 #44

U.S. House Appropriations chair: Obama border security request too high Demeter Jul 2014 #45

Wells Fargo mortgage revenue drops, shares fall Demeter Jul 2014 #46