Einhorn's years-long battle with Allied Capital — a company he publicly shorted while alleging accounting fraud. A short-selling masterclass and searing indictment of regulatory failure. The punchline: being right isn't enough when the institutional framework is working against you. Einhorn presented evidence of fraud at a public conference, the stock went up, and the SEC investigated Einhorn.

The case for it, the case against, and the rest of the canon open with Pro.