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The law says a lot of things. I'm ok with short sellers losing their shirts regardless.
by peteey 8y ago
The law says a lot of things. I'm ok with short sellers losing their shirts regardless.
- rjdagost 8y agoA lot of longs loaded up on Tesla shares because they believed his "funding secured" tweet. Are you OK with them losing their shirts, too? Because many of them did.
- manicdee 8y agoI didn’t load up on Tesla shares when Elon tweeted about Ambien, self driving advancements, or software updates coming any day now, so why would I take him seriously about going private? The route for going private was to stop trading the shares, meaning I would never make good on that profit. Because ceasing trading is what going private means: I no longer hold stock at $420/share, I hold stock in Tesla which I might be able to sell to someone some day for some as yet unspecified amount.
- Dylan16807 8y ago"long" is a misleading label for someone buying for the purpose of being immediately bought out. Also someone that bought stock in that period would have lost something like 355->320 which is only 10%. If someone leveraged up to take advantage of a short-term pricing condition then they get vastly reduced sympathy no matter which direction their position was.
- sokoloff 8y ago"long" in this case is a direction (net owner of shares), not a duration.
- Dylan16807 8y agoI know that. You're not really addressing my point...
- sokoloff 8y agoAn established term of art, correctly used and in context, is not misleading IMO.
- Dylan16807 8y agoThe context is a lack of sympathy for short sellers, and to me seems to be about betting in the near term vs. holding. The platonic long purchase is based on holding, and the question is structured as if it's following that same dichotomy, but it describes a bet that is in fact long while also based on near-term betting. That's why in-context I think it is both technically correct and misleading, and the question should have been phrased differently. But whether I should have said "dichotomy" instead of "misleading" still has nothing to do with the actual substance of the discussion...
- cheeze 8y agoI am. There is inherent risk with investing. Buying up stock because of a tweet by the ceo who was "thinking about" (even if he did have funding secured) isn't the most sound financial decision IMO.
- bjl 8y agoWhy the short seller hate? They play a very important role in exposing fraud and inefficient allocation of capital.
- village-idiot 8y agoBecause they expose fraud and inefficient allocation of capital.