Fraser Perring, the founder of short-selling firm Viceroy Research, may not fit the stereotypical image of a fearsome executive, but his work has sent shockwaves through the financial world. From his idyllic home in a quiet village near Lincoln, Perring and his team at Viceroy Research profit by betting against companies and exposing their wrongdoings through meticulously researched reports.
Perring’s success is evident by his luxurious lifestyle, complete with a collection of high-end vehicles. He attributes his wealth to his career as a short-seller, which he believes is crucial for maintaining a healthy and transparent market. While short-sellers like Perring often operate in secrecy, our conversation provides a unique opportunity to gain insight into their mindset and approach.
Six months ago, Viceroy Research released a damning report on Home Reit, a property investment trust aimed at assisting homeless and vulnerable individuals. The report caused Home Reit’s share price to plummet and triggered a probe into its accounts. Perring remains unapologetic about the impact of Viceroy’s work, as it resulted in a substantial profit for him and his colleagues.
Perring’s criteria for targeting companies revolves around identifying the missing pieces of the puzzle. With Home Reit, for example, he discovered a disconnect between residents’ feedback on the quality of the properties and the company’s public image. Perring and his team rely on publicly available information to form their opinions and offer an alternative perspective on a company’s practices.
Currently, Viceroy Research is embroiled in disputes with several global companies. One such company is Medical Properties Trust, a US-listed healthcare property investment trust that saw its share price plummet after being targeted by Viceroy. In response, Medical Properties Trust has filed a lawsuit against Perring’s firm, which he dismisses as baseless.
Another company in Viceroy’s crosshairs is SBB, a Swedish landlord facing financial ruin due to a massive debt burden. Perring describes SBB’s founder and former CEO as a “fantasist” for dismissing the vulnerabilities within the company. Perring’s latest target is Abalance, a Japanese solar panel manufacturer accused by Viceroy of using forced labor to circumvent US sanctions.
In addition to these high-profile cases, Perring has previously taken a stance against Elon Musk’s Tesla and German-South African retailer Steinhoff. He believes that fund managers who invest in fraudulent companies should face consequences and be held accountable for their actions. Perring’s work has not been without its fair share of criticism, including unfounded allegations linking him to the Kremlin.
Perring’s journey into short-selling began in 2011 while working as a child protection officer. His social work career ended in controversy, but it opened the door to his newfound passion in the financial industry. Despite its challenges and the personal risks involved, Perring remains devoted to his work and sees no alternative career path for himself.
As we conclude our conversation, Perring reflects on the emotional toll his work has taken. He recalls a terrifying incident where he was threatened by two individuals for his involvement in exposing Wirecard’s wrongdoing. Such encounters, he believes, are the most challenging aspect of his work.
In the end, Perring’s dedication to shedding light on corporate misdeeds and his unyielding drive for justice continue to guide his path as a short-seller. While his methods are often criticized, there is no denying the impact he has had on the financial world and the calls for increased accountability among industry professionals.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
