There's just a cognitive dissonance in a lot of these situations. And short sellers get the blame for it. Short sellers were seen, politically and (socially), as heroes after Enron and the dot com era. A little less so in '08-'09 … but now, post-meme stock world, short sellers are again the evil conspiracy to derail retail investors from making their profits in stocks like AMC and Bed Bath and Beyond. [The meme stock rally was] probably the best example in modern financial history [of cognitive dissonance in the markets]. Despite evidence staring you in the face about the declining business prospects of AMC or Bed Bath and Beyond, the cult members want to continue to believe in things like naked short selling or phantom shares and what have you. I just keep saying 'Guys, if you do spend all this time on this nonsense, instead, learn how to read a balance sheet – you'd be far better off'.
~ Jim Chanos, "'I'm not dead yet': Jim Chanos isn't done short selling despite hedge fund wind down," Pensions & Investments, December 14, 2023
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