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The language in this article highlights how important "financial professionals" view themselves and their peers... "Extinction-level events" to describe the po
by cbozeman 5y ago
The language in this article highlights how important "financial professionals" view themselves and their peers...
"Extinction-level events" to describe the potential collapse of their hedge fund, when engaged in behavior designed to destroy companies (short selling), that ultimately results in thousands of lost jobs for the workers of said companies if the shorting of a stock is utterly successful. The arrogance is staggering. No wonder WallStreetBets are taking the fight to these short sellers.
- djbebs 5y agoShort selling is not a bad or evil thing.
- birdyrooster 5y ago“Short selling is not a crime!”
- tgv 5y agoLike shooting isn't a bad or evil thing, per se. But you can break companies or people.
- pkphilip 5y agoShort selling is perhaps ok but definitely not naked short selling
- sunstone 5y agoA lot hedge funding is just having a big enough pile of cash to bully smaller investors around. In this particular case the hedge fund ran into a much larger pile of cash and got bullied in return and went running home to cry to mommy. Life is tough in the sand box of who's got the bigger pile.
- dh5 5y agoShort selling provides a way and incentive for regular people to keep companies accountable. A recent example is Luckin Coffee (https://en.wikipedia.org/wiki/Luckin_Coffee https://en.wikipedia.org/wiki/Luckin_Coffee) which fabricated 90% (!) of sales in 2019 and was only spotted by a due diligence firm that actually sent in people to measure foot traffic in stores.