The Bindle Paper is an independent research boutique led by acclaimed short-seller Kurt Feshbach. 

We produce deep dive, single-stock short research for a discrete, institutional clientele.

bin·dle pa·per

A clean piece of standard-size, folded paper used to contain trace evidence. The tool has long been used by forensic examiners to securely collect and transport evidence. 

The Feshbachs look for terminal shorts with these four characteristics:

  • Stock prices overvalued by at least two times Feshbach perceived valuation.
  • A fundamental problem at the company.
  • A weak financial condition. Working capital problems or high long-term debt.
  • Weak or crooked management.

-The Art of Short Selling
Kathryn F. Staley

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