Kurt Feshbach and the Short Market by Kurt Feshbach
October 23, 2008
12:18 pm | 1 recommendation | Be the first to comment
After 2 days and 900 points down, I am still some how finding shorts. The market is moving so fast it is hard to feel safe recommending new ideas.
It is difficult to guess at a bottom.
I was speaking to one friend who thought the market would calm down after the election. I don't think that will make much difference but hopefully I will be wrong.
I saw 2 articles this week, one said the economy may not be in bad shape and another that said we were at a bottom. Taking a contrary view you would have to wonder about both.
When things are on the front page of various news papers bet the other way.
So, got to look forward to the world series. That should be fun.
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September 20, 2008
09:32 am | 1 recommendation | Be the first to comment
When the government came out and said no short selling, well that was a bit to much.
First people have the wrong reason for the market decline. It isn’t short sellers, it is bad management decisions by financial companies such as Bear Stearns and Lehman Brothers. Those companies and others ended up making large over sized bets that nothing could go wrong. Almost all of it is real estate related. And plenty has gone wrong.
Banning short selling may be one of the worst ideas ever, even if it is only in financial stocks banning. Forcing people to short stocks legally is another matter and I hope that part of the plan works.
You will now get artificial up moves in stocks because people will believe these problems are over.
We haven’t seen the end to this crisis just because someone diverted the attention off of the financial problems to people who short stocks.
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September 12, 2008
01:04 pm | 1 recommendation | Be the first to comment
Watching these financial institutions get crushed makes for some interesting reading.
Of course, since I work in the shorts stock marketing, I
have no information or way to know if Bank of America would buy Lehman.
But, the amount of leverage they were using
must have been so large they couldn't get their hands uncuffed at
Lehman. So many billions of dollars down the toilet for investors and
employees.
It will be too bad for all the people out of jobs
and all the people who have lost money in what should have been a very
stable company.
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