short selling

  • News

    Italian Bank Loses Money, Deposits, Short Sellers

    If Banca Monte dei Paschi di Siena has any more really bad news to announce, now might be a good time to get it out.

    / Apr 2, 2013 at 5:48 PM
  • Obviously it parses Guy Who's Short Herbalife Says {Guy Who's Long Herbalife Saying [Guy Who's Short Herbalife Saying (Herbalife Is A Fraud) Is A Fraud] Is A Fraud}

    News

    Guy Who’s Short Herbalife Says Guy Who’s Long Herbalife Saying Guy Who’s Short Herbalife Saying Herbalife Is A Fraud Is A Fraud Is A Fraud

    One day Herbalife will either be put out of business by consumer-protection regulators or it won’t. If it is then Bill Ackman will make a lot of money and Carl Icahn will lose a lot of money, and if it isn’t Ackman will lose a lot of money and Icahn will make a lot of […]

    / Mar 13, 2013 at 3:53 PM
  • Is this more of a Loeb post? I dunno.

    News

    Dan Loeb Gets In On “The Best Managed Pyramid Scheme In The History Of The World” At A Discount

    An important truism in the financial markets is that there’s no such thing as a “toxic asset,” tout court; everything is toxic/dangerous/Bad at some (high) price and attractive/safe/Good at some other (much lower) price and there’s a wide area in between where things mostly live and you fight about their pricing. You can apply that […]

    / Jan 9, 2013 at 4:17 PM
  • I giggled. From like slide 8,000 of twelve million or whatever.

    News

    Bill Ackman Full Of Praise For Company He Thinks Is A Blood-Sucking Pyramid Scheme

    Well, the praise was brief but extravagant, specifically “this is the best managed pyramid scheme in the history of the world,” which I at least would be proud to have on my resume, but I might be in the minority there. What do you think Ackman’s goal was in this morning’s 340-slide, nineteen-hour Herbalife presentation […]

    / Dec 20, 2012 at 2:22 PM
  • But to be fair I love their hand sanitizer.

    Hedge Funds

    Bill Ackman Unimpressed By Business Model Of Selling Diet Shakes To Your Friends; Diet Shake Salesman Unimpressed By Business Model Of Being Bill Ackman

    What is the best line from Herbalife CEO Michael Johnson’s amazingly hostile call with CNBC this afternoon, in which he maintained that Bill Ackman is wrong that Herbalife is a pyramid scheme? I think the two leading contenders are: “Mr. Ackman’s proposition that the United States would be better when Herbalife is gone? The United […]

    / Dec 19, 2012 at 6:32 PM
  • Carson Block of Muddy Waters. Not to be confused with a cow.

    News

    Skeptical Investor Puts Trust In Ratings Agency

    You may be aware that noisy Asia-focused short-seller Muddy Waters is in a fight with Singaporean agricultural commodity trader Olam. Muddy Waters thinks that Olam is “an extreme example of an increasingly important conflict in modern finance: the clash between accounting and business reality,” and that “it is instructive to view Olam through the lens […]

    / Nov 30, 2012 at 11:36 AM
  • Bloomberg, DMGT LN equity and UKX index. Disclosure was required as of November 1.

    News

    EU Rules Ensure Everyone Gets A Chance To Short Stocks Alongside David Einhorn

    So I guess the Einhorn effect hasn’t yet taken London by storm? There’s this: David Einhorn’s $7.7 billion hedge fund Greenlight Capital Inc. disclosed a short position of 4.4 percent in the shares of Daily Mail and General Trust Plc, which publishes the U.K.’s second-biggest selling daily newspaper. Greenlight’s bearish bet on London-based Daily Mail […]

    / Nov 6, 2012 at 6:03 PM
  • News

    Europe’s Short Sale Ban May Be Slightly Less Terrible Than They Want You To Think

    Europe is doing various terrible things about short selling today, and go talk about them in the comments, but this whole thing is really boring isn’t it? It’s like the “price gouging is grrreat” arguments that spring up like weeds after natural disasters;1 there’s the thing that politicians do to Convey Emotion and then we […]

    / Nov 1, 2012 at 6:42 PM
  • Valuable look of disapproval

    News

    The Mystery Of Einhorn

    The Journal has a nice article about David Einhorn today, making the point that he can move stocks with the sheer power of his disapproval. Not even disapproval, really; a raised eyebrow will suffice, as it did for HerbaLife. Imagine his parenting skills. Here is a chart from the Journal and I guess you win […]

    / Sep 18, 2012 at 1:30 PM
  • News

    Some People Were Selling Facebook On Friday

    There’s this interesting article in the Journal today about how quickly and expensively short sellers managed to find shares of Facebook to borrow, including a graphic showing that like 150 million shares were shorted on Friday, at -10% to -40% rebates, which, what? Anyway you should read it; I for one was surprised that that […]

    / May 25, 2012 at 11:23 AM
  • News

    David Einhorn Is Doing All Of His Management Calls Publicly From Now On

    Wouldn’t it be fun to be the kind of guy who could swoop into an earnings call and be all “aren’t you just a giant fraud?” and freak everybody out and cause the stock to plummet? I feel like that would be fun. I am not that kind of guy, which is just as well, […]

    / May 1, 2012 at 5:39 PM
  • News, short selling

    China Becomes More Free-Market Than Europe, Sort Of

    I guess it’s time for me to stop being amused when China does not-especially-Communist things, but still, I giggled a bit when I saw that China is liberalizing its short-selling rules at around the time that Western Europe is tightening its rules. Because freedom on the march, or whatever, though as David Keohane at FT […]

    / Jan 5, 2012 at 5:37 PM
  • News

    It’s Not So Easy To Get Away From This Voluntary Greek Bond Swap

    Bloomberg reported today that, back in July, David Einhorn and some other people decided that (1) betting against European sovereign debt was, and would remain, a good idea, but (2) doing it in CDS form was kind of dumb, so (3) they’d switch to doing it in physical form, by borrowing and shorting the debt. […]

    / Dec 16, 2011 at 1:23 PM
  • News

    Of Course This Assumes That The Baboons Understand And Care About What The Market Tells Them

    If you think a company has a good business and shareholder friendly management, you might consider buying its stock. If, on the other hand, you found a company that you were pretty sure was managed by a bunch of baboons, it might make sense to short its stock, and maybe publicize your conclusions via a […]

    / Nov 14, 2011 at 1:47 PM
  • News

    Half of Europe Bans Thinking Sad Thoughts About Banks

    Short sale bans. Is there anything they can’t do? Maybe. But does it matter? If your position is just that “speculation” on stocks is the moral equivalent of puppy-murder and should never be profitable, then you just say things like “let’s ban short sales” and don’t worry about the details. You take shorting of bank […]

    / Aug 12, 2011 at 11:39 AM
  • News

    Are European Regulators Just Going To Ban Everything And Take The Summer Off?

    So Europe’s going to ban short selling. Or not, whatever. Or, sure, yes. Since last time this happened it did such a great job of propping up equity prices. But maybe propping up equity prices isn’t the point? It’s not hard to find European (or American) politicians who just think that short selling is immoral […]

    / Aug 11, 2011 at 1:13 PM
  • News

    Just to Be Clear: Italy Not Banning Short Selling, Just Asking Really Nicely

    Not satisfied with taking down the names of everyone shorting Italian stocks so it could give them disappointed looks and ask them if they feel good about themselves for making Nonna cry over her lost pension, Italian securities regulator Consob has started using a little “moral suasion” to get their buddies to cut them off.

    / Jul 13, 2011 at 10:15 AM
  • News

    Whitney Tilson On T2 Partners’ Netflix Short, Shorting Skills In General

    Last month T2 Partners’ fund declined 2.8 percent in January, with declines of 4.3% (net) in the last five months, which managing partners Whitney Tilson and Glenn Tongue noted “in isolation, isn’t a terrible number.” Having said that, “given that the S&P has surged 23.5% over the last five months, this has been, by far, […]

    / Feb 3, 2011 at 9:45 AM
  • News

    Mary Schapiro Needs Help

    So the SEC voted 3-2 in favor of restricting short-selling today, at the risk of pissing off Goldman Sachs, whose head of US equity trading Paul Russo had been lobbying against the proposal for some time. However, even Mary Schapiro knows that no one can truly make a full frontal attack on GS, and mitigated […]

    / Feb 24, 2010 at 1:07 PM
  • News

    Mary Schapiro Wants to Curb Short Selling, Speaks in Tongues

    Our fave porn-loving regulators are taking a stab, yet again, at short selling, considering measures to curb it “soon.” But while one can only laud Mary Schapiro’s effort to sugar coat the proposal, she’s not helping the SEC regain any kind of respectability and seriousness, and at this point, Mary might want to consider a […]

    / Feb 5, 2010 at 11:07 AM
  • News

    Short Selling Wizard Closes On East Side Tower

    Cityfile reports that Jim Chanos has closed on a triplex at 3 East 75th Street (neighbors!). Chanos paid $20.365 million two months ago for the 7,800 square foot space. In the same way that rich people often have so many rooms they don’t know what to do with them all and end up devoting one […]

    / Aug 26, 2008 at 12:51 PM
  • News

    Harvey Pitt Loves Conflicts O’ Interest

    Harvey Pitt has been named deputy attorney general of Alabama where he will be investigating “short sellers and false rumors involving Colonial BancGroup, actions designed to drive down the institution’s stock price.” CNB apparently approached Pitt about the gig knowing that rumor mongering and wicked short selling are favorite topics of the erstwhile SEC chairman […]

    / Aug 20, 2008 at 1:09 PM
  • News

    Cody Willard’s Over-Share-y Primer On Short Selling

    I’m going to present this one without commentary. To parse it would be to meddle with its genius (genius that, if it’s doing its job right, will haunt your dreams). I will however put a few things in bold that I think you should look out for: Most people understand that shorting something means you’ll […]

    / Aug 13, 2008 at 1:13 PM
  • News

    Chris Cox And The SEC Back In The Spotlight

    Admit it. There’s some part of you that wonders whether or not Chris Cox’s anti-naked shorting emergency order wasn’t an attempt to prove that he and his agency were not an irrelevant or superfluous sideshow to the Ben Bernanke-Hank Paulson big tent. His agency was in danger of being written out of the regulatory schema […]

    / Jul 16, 2008 at 9:01 AM
  • News

    Cox To Fannie and Freddie: We’re Going To Protect You From The Shorts

    SEC Chairman Christopher Cox Cox told the Senate Banking Committee that the agency was putting in place an emergency order limiting short sales in Fannie Mae and Freddie Mac with a requirement that the shorted stocks be “preborrowed.” It’s not immediately clear what this “pre-borrowing” requirement entails, or what sort of authorization short-sellers would need […]

    / Jul 15, 2008 at 2:04 PM
  • Overstock, Patrick Byrne, short selling

    Sleazey McSleaze Admits To Sleaziness

    You remember AntiSocialMedia.Net, right? No? Yeah, we were doing out best trying to forget it also. It’s the website hosting what the New York Post describes as “bitter attacks … on the message board critics, accusing them of participating to various degrees in a conspiracy to malign the anti-naked short selling movement that Overstock.com supports.” […]

    / Jan 12, 2007 at 4:02 PM

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