Mike:
About a year ago, a good friend sent a book to me, after I had spent well over a year writing research reports pertaining to an outright accounting scam company. Initially it was an uphill fight as some of New York's top firms and analysts had been roped in and had raised the company a very big bag full of money. In the end, the stock finally fell off the cliff, but I couldn't believe how long it took for the market to whack it.
The book, entitled "The Art of Short Selling", provided excellent behind-the-scenes commentary on famous short situations and was an enjoyable read, as it dealt exclusively with situations where the shorts had carried the day.
While I'm not sure it was what the author had intended, the main point this reader gained was that in every single one of the examples provided, it took YEARS for the dogs to die,....or to even lie down,.....and these were the ones wherein the shorts were both right and victorious. There's a lesson in it for us. (g)
Best Earlie |
