One of the world’s hottest short sellers is changing tactics

TOKYO (June 29): Earlier this month, Soren Aandahl scored one of his biggest victories as a short seller when he dramatically took down the leader of a world-famous brand.

In some ways, the resignation of Samsonite International SA’s chief executive officer after Aandahl’s report was business as usual for the Austin, Texas-based investor, who’s trouncing his peers over the past 18 months with a run of successful investments.

But there was one important difference. The short seller who made his name sniffing out what he calls “zeroes,” fraudulent companies with no value, was branching out into a separate category of investments: larger firms as the universe of outright frauds that he can target shrinks. For example, nobody would describe Samsonite, the world’s largest luggage maker, as worthless.

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