'The Assassin' Fahmi Quadir on How to Survive as a Short-Seller

Short-selling faces an existential crisis as institutional support wanes and markets increasingly prioritize momentum over fundamental price discovery. While the current environment remains rife with corporate fraud and financial engineering, traditional investigative levers—such as regulatory whistleblowing—have lost their efficacy. Fahmi Quadir, founder of Safcat Capital, highlights that successful short-selling now requires shifting focus toward fundamental catalysts and identifying structural breaks in business narratives. Transitioning from her role as a dedicated short-seller, Quadir is pivoting toward long-only shareholder activism in the Korean market. This shift targets the systemic governance issues and "chaebol" structures that historically depressed asset values. With Korea’s recent legal enshrining of shareholder rights and a new generation of globally oriented leadership, this strategy aims to unlock value by forcing transparency and accountability in companies previously plagued by poor corporate governance and inheritance tax-driven financial manipulation.