He didn't do anything unethical. He went short. What is shorting?
Borrow security from other investors.
Sell security for current market value
Value of security goes up (Bad!) or Value of Security goes down (Good!)
Purchase security to cover borrowed securities from other investors, keep difference, or pay more than you spent if the price went up.
This guy isn't Dick Dastardly or something, he was shrewd and had excellent foresight.
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