Looking at those well-known short sellers, I always feel something's off. Truly seasoned traders who have been in the game for so many years can't survive solely on gambling instincts. Someone with eight years of trading experience must have a comprehensive risk management system; otherwise, they would have been liquidated long ago.

It also makes sense—shouting short orders at a major exchange’s trading floor is actually a cover for actions on the other side. They use their notoriety to attract retail investors to short, using them as fuel, while quietly going long on other exchanges to hedge. When the market moves, they close positions across different markets to arbitrage, ultimately escaping unscathed.

Retail investors can't see through this logic and just watch the spectacle. Little do they know, the risk control and cross-market operation capabilities of big players are on a completely different level. So rather than calling it gambling, it’s more like a carefully orchestrated liquidity harvesting scheme.