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Part 5: Martin Shkreli: I Made $60M When My Pharma Company Went Public
Part 3: Martin Shkreli on Starting Hedge Fund at 23, Fund Collapsing After Bad Trade
Part 1: Martin Shkreli on How Hedge Funds are Secret Way to Make Rich People Really Rich
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Martin Shkreli made bold statements about his success in shorting stocks. Shkreli detailed his Wall Street journey with MSB Capital Management, which he co-founded with Mark Beestik after the collapse of Lehman Brothers. They engaged in risky financial maneuvers, including a controversial 2011 naked short sale involving 32 million shares of Exigent Therapeutics with Merrill Lynch. Shkreli revealed his unique strategy, which was manipulating stock prices by shorting massive amounts, ultimately causing the company's downfall. He also highlighted a fascinating loophole that quantitative funds like Renaissance exploit to short without borrowing stock upfront. Despite facing several challenges, including a failed trade that Renaissance Capital absorbed, Shkreli claimed significant success in short-selling, amassing nearly half a billion dollars over the years.
