We’re short the securities of Techtronic (669 HK, or “TTI”), a power tools company that’s been inflating its profits dramatically for over a decade with manipulative accounting. A broad “toolbox” of accounting games has enabled TTI to engineer a profit margin trendline so perfect, it does not otherwise exist on Earth. Of every single public company over $1bn revenue in the entire world, TTI is the only one whose gross margin has gone up every half-year, sequentially, for ten years straight