Gerg (all 4 of you) and Steven: FYI, from the Zen of Shorting:
While not common, the great short Chu Mei Ash was known to go long on occasion.
This resulted in his opinion being sought on the merits of various long plays in the
market. The following story is a well known example:
One of the master's student came to him very excited one day to speak of a stock he
had found he felt was worth the master's attention.
"Master, I think you should come and listen to Tubbo and Mitco Veni speak of Edi Ot
Lamp Oil Company. It seems to me to be a most wonderful investment."
"Indeed, consort of farm animals, you seem most excited. Very well, I am always willing
to investigate companies. Let us go." Said the Master.
The two walked over to where Tubbo and Mitco Veni were speaking. Chu Mei Ash
settled into a lotus position and listened intently, nodding occasionally. Other investors
recognized the master short but no one disturbed him. At the end of the discusion on the
stock, Chu Mei Ash arose and said to his companion.
"This is indeed a most wonderful company, let us go now to the market."
"I am happy the Master agrees with me. But should we not hurry to the market now?
Other investors recognized you and heard you say it was a good investment, even now
they are rushing to the market."
"That is most interesting, embracer of the slow and stupid, I merely said it was a most
wonderful company. And it is, I has seen few shorts that were its equal. Well perhaps
the misunderstanding of the other investors will work out for the best for we will be able
to short it at its peak." Said Chu Mei.
"But Master, a short, how can that be? Did you not listen to Tubbo and Mitco?"
"I did indeed, they are like the farmer who is feeding his chickens. The chickens in their
ignorance think they are receiving endless bounty for nothing, to the very day he comes
with his cleaver. Did you not look into the faces of the crowd? It was most wonderful to
see. They all had the open, guileless, wide eyed, and trusting faces that can only be
found on the truly stupid. Perhaps you failed to see this as that face can be found on you
so often."
"Indeed, terror of the barnyard," Chu Mei Ash continued, "You have found me a most
wonderful short, I expect to profit greatly by it."
"Well perhaps then the master will share some of his profits with me since I have found
this stock for him to short?" His student said.
Chu Mei Ash looked his student over carefully and said,"It would be appalling to see
the horrors you committed in previous lives, for you bear a terrible burden of Karma.
Indeed, for your Karma to have resulted in you bearing such stupidity the mind shudders
simply to consider it.
It is a great sadness now for you too. For I clearly see the consequences of kindness to
you. By giving you money I only add to your burden in the end for it will take even more
time for you to atone for your past sins. So I will reap the gold from this short of Edi Ot
as compensation for the good Karma I have accrued and you will be able to take joy in
the fact you have in a small way paid a portion of your debt for your past evils."
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