> a few medium-sized hedge funds were caught doing something stupid and the market has rightfully taught them a lesson. Individually, what they were doing (sho

> a few medium-sized hedge funds were caught doing something stupid and the market has rightfully taught them a lesson. Individually, what they were doing (shorting that stock) might have been perfectly sensible. That they collectively overshorted made them vulnerable. I'm not convinced yet that it was stupid.