The King of Short Selling

Marcus listened for twenty minutes without interruption. "Position?" "Short equity, long out-of-the-money calls as squeeze protection, and maybe buy CDS if liquidity permits. But I would size small until funding markets confirm." "Why not go big if you're right?" "Because being right does not protect you from a prime broker margin call." For the first time, Marcus smiled. The job offer came that evening. Junior analyst. Base salary lower than Ethan expected, bonus discretionary, hours brutal, opportunity real. He accepted before the recruiter finished the sentence. Blackquarry was not a workplace. It was a pressure chamber. Every morning began with positions, catalysts, borrow rates, and what Marcus called "ways we can be wrong.