Scott Fearon runs the hedge fund Crown Capital and the book is about the part of his strategy that is to go short “dead companies” that still look healthy. He is mainly looking for “growth companies” that have declining revenues in combination with increasing indebtedness. As a rule, he is quite “late on the ball” and initiates a short position only after the market has begun to doubt the previous growth story. Since 1991, Crown Capital has had an annual return of 11.4%, compared to the S&P 500’s 9.6%. However, most of the fund is invested in long positions.
A Brief can be read here.