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Chapter 3. The Superstar CEO: Celebritie... > Red Flag 12: A CEO Who Blames Others...

Red Flag 12: A CEO Who Blames Others for a Company’s Ills

Members of management who blame everyone but themselves for a declining share price are not to be trusted. A particular target for the blame game is the short sellers; at other times, it’s the media or even the investors and Wall Street. “It is another qualitative red flag, when they start blaming short sellers for their problems. I wish we had the power that these companies claim we do,” said Chanos. “It is often a management that wants to divert your attention away from what the short sellers are saying—their point is who is saying it, not what they are saying,” he said, adding that if a company’s critics were wrong, a company should be able to confidently rest on its accounts and let the figures speak for themselves.


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