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Politics : America Under Siege: The End of Innocence
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To: Qone0 who wrote (4020)9/19/2001 9:40:24 PM
From: Patrick Slevin  Read Replies (1) of 27666
 
I do not agree with you. In the past twenty-five years I've been active in the markets perhaps I have sold short a security maybe five or six times. Actually, I refrained from selling Short a stock last year at 50ish that I knew was going out of business, it's less than a buck now.

But I do not agree because if it were not for Short-Sellers, and I've been busted by them myself, a stock could go to ridiculous valuations. That would leave us with Tulip bulb bubbles. If it were not for Short Sellers we would all be Buyers and none Sellers and when the correction came we would all be pilloried on the Cross of Greed.

I do not think Short Sellers are bad guys. If they are right they are saving us, if they are wrong they are helping us. 99 times out of a hundred they are our own brokers anyway. If you are buying XYZ from Broker X then Broker X is probably shorting the stock to you. They are waiting for the next guy to sell so they can make the spread anyway.
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