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Wall Street Scion Lost in China Agritech as Shorts Cry ‘Scam’

Jesse Glickenhaus learned about investing in China the hard way: The first shares he bought, in an organic fertilizer company, lost half their value in four months after short-sellers questioned the firm’s credibility.

When Glickenhaus, 29, joined his family’s New York asset-management company in October, he wanted to bring its stock picking into the era of global warming. That led to a $4 million investment in China Agritech Inc., a Beijing-based firm listed on the Nasdaq Stock Exchange and 22 percent owned by Carlyle Group. It was, Glickenhaus said, a way to profit from the need to feed China in an environmentally responsible way.