Ron Geffner On The Legal Aspects Of Activist Shortselling – 2018 Kase Learning Shorting Conference

Full notes of Ron Geffner, Partner, Sadis & Goldberg LLP from the

, from the 2018 Kase Learning Shortselling Conference.

Please note this transcript may contain mistakes – this was done by a human but its impossible to get every word correct and the audio was a bit unclear at times – enjoy

Q3 hedge fund letters, conference, scoops etc


Ron Geffner:

Thanks to Whitney and to Kase for having me present in front of you today. I know you say in show business never to follow in to older kids. I’m a little confused what to do when you are following a cliff on a hangover.

I was thinking of how to discuss some of the concepts that Whitney had wanted me to present upon. While some of it, we want to focus on insider trading—and that is relevant in the short time frame, I don’t think I can do certain subjects justice. There is wide information and activity that short sellers often sometimes lose sight of.

So I’m going to start off with discovery story, because each of you comes upon the information you want to act on, that’s actual. You might here it through verbal conversation. You may read about it. Someone might send you a document. Or it might be through some form public dissemination of 10-K or 10-Q. The first thing you should be considering doing is assessing whether this information is material, non-public information. I will refer to this as the acronym MNPI. It’s one of those things that when you see it, you know it. But it’s a scale. So while you think like it’s very clear that it’s MNPI, in many cases, it’s not always that clear.

I’ve worked on short activist campaigns with clients and the first line of defense usually is


This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

If you are subscribed and having an account error please clear cache and then cookies if that does not work email and we will get back to you as quick as humanly possible

Saved Articles

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Congrats! Are you a smart person?

We have an exclusive targeted & limited time offer for being a sophisticated and loyal reader.

ValueWalkPremium is a website and newsletter on the latest industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today and get our exclusive content for 40% off. This is our second biggest discount ever!!

Use coupon code VIP20 or click on the button below

Limited time offer only ENDS 4/30/2020 or after the next 40 subscribers take advantage whichever comes first – please do not share this discount with others