Key point: I was trying to explain this to someone who had no idea of what a short is. I didn't want to muddy the issue with complex descriptions of equity, d

Key point: I was trying to explain this to someone who had no idea of what a short is. I didn't want to muddy the issue with complex descriptions of equity, dividends etc. But if you think of equity as having a value other than derived from the market, then 'expensive' might still have applicability here. It's been a long time since I've used this though.