short sellers

When he’s not exposing Spanish WiFi scams, Gotham City Research founder David Yu offers a rare and unique glimpse into the behaviors of a rarely discussed guy named Batman. Read more »

  • 06 Jun 2012 at 7:29 PM

Facebook Is Number 1 (Among Short-Sellers)

No large U.S. company is attracting more attention from short sellers than Facebook, amid bets the world’s biggest social-networking company will keep falling after losing $27 billion since its initial public offering. Short interest on the Menlo Park, California-based company reached 5.9 percent of shares outstanding, according to data compiled by Bloomberg and Data Explorers Ltd., a New York-based research firm. None of the Standard & Poor’s 500 Index companies with at least $50 billion in market capitalization has short interest higher than 3 percent, the data show. Facebook, which has a market value of about $63.8 billion, isn’t in the S&P 500. [Bloomberg]

Here at Dealbreaker we love short sale bans. Nothing inspires confidence in an asset so much as a government telling you that you can’t sell it, especially when the government in question is taking time out from a busy schedule of bunga bunga parties to give a firm but loving hand to the equity markets.

So we were excited to see that, as the Italian equity and government bond markets melt down, politicians and regulators are sharpening their knives to come after the evil speculators who must be behind the drop. Italy is now requiring anyone who is net short more than 0.2% of the shares of an Italian listed company to disclose their position to regulators, with an updating requirement for changes of 0.1% or more, from now until September 9. More excitingly, there is already talk of banning naked shorts, regular shorts, sovereign CDS, etc. followed. Barry Ritholtz succinctly explains the reasoning:

In a classic act of misdirection, Italy is ordering short sellers to disclose their positions, because after all, the entire European credit crisis was caused by analysts who identified over valued stocks.

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Last Friday, Bloomberg printed a hilarious story about a girl named Carrianne Howard, who’s fallen on hard time. Currently, Howard works at a topless bar called Lido Cabaret in Cocoa Beach, Florida. But, wait, that’s not the funny part. What made the story a laugh riot was that the reporter/editor made the hugely tenuous (at best!) link that Howard’s travails– her parents had spent $70,000 for her to earn a bachelor’s degree in game and art design from the Art Institute of Fort Lauderdale, which helped her score an entry level job in her industry of choice after graduating in December 2007, from which she was later laid off and had to turn to showing her tits for money– were the fault of Goldman Sachs, as the bank owns 38 percent of the Art Institute’s parent, Education Management Corp. Over the weekend, Carrianne took to YouTube to respond, clarifying the facts. Read more »

  • 13 May 2010 at 4:15 PM

Greece Finally Gets Something Right

Tonight, Jim Chanos is being named the Hellenic American Bankers Association 2010 Executive of the Year. Baby steps!

Remember that story a few months back in the Wall Street Journal, about the hedge fund “idea dinner” that insinuated a bunch of managers got together to break bread while plotting to take down the Euro? David Einhorn and the Greenlight team do! They’ve been discussing it amongst themselves for a while, and today it made their latest quarterly letter. What’d they think of the piece? Well, reporting the actual facts instead of pulling them out of the reporter’s ass would’ve improved things slightly. Apparently the Journal got a whole bunch of stuff wrong and now the responsible parties are going to pay. Sorry, kids. Sometimes the nicest hedge fund manager in the world just has to cut a bitch. Sayeth DE and Co:

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If you haven’t already invested your $1,000 with Bernett Diversified Global Fund and are looking to get in the game, take two to consider Dubai Shariah Asset Management‘s Kauthar Commodity Fund, which is opening its doors for the first time since launching last year. Here are the relevant deets: Read more »