The Last Bears — Short Sellers in Modern Equity Markets
Category: Equity Market Structure
Published:
Short sellers make markets more honest. A fraud conviction, a decade of relentless equity gains, and an army of Reddit traders are pushing them out of the business — and the costs are going to be felt by investors who never once thought about short selling.
Read the full Icarus Asia research note at https://icarusasia.com/research/short-sellers-deep-dive.
Related research
- Why Thomas Tuchel Shouldn't Be Blamed for England's World Cup Exit — A tactical and data audit of Thomas Tuchel's back-five decision in England's 2-1 World Cup semi-final defeat to Argentina — why the shape wasn't the mistake, and what the FIFA match data actually shows.
- The Narrow Case for US–China Gold Diplomacy — Why a US statutory gold revaluation is a balance-sheet exercise, not a monetary regime change, and what fifty years of monetary history actually teach about the limits of coordinated adjustment.
- Resolving Japan's Impossible Trinity — USD/JPY near 162.5 in July 2026 — the weakest yen in four decades — despite three BoJ rate hikes and record ¥11.73 trillion ($73.6 billion) of MoF intervention in a single month. Inside the four-decade record of yen defense, the war-chest math, and a four-part strategy for avoiding a disorderly break.
By Icarus Asia — independent strategic advisory and market research on Asian markets.