Friday, September 19, 2008

Short Sells: A Little Terrorism, Dear?

Ritholtz, having a conversation with his pal Joe Besecker:

...from what he was seeing and hearing about in terms of order flow, the vast majority of the financial short selling the past week or so were being done overseas. It appears that the lion's share of shorting was coming out of overseas bourses such as London and Dubai.It may not be a coincidence that the financial short selling ban is both here and in London.

Then there is another coincidence: The huge increase in shorting of the financials occurred on the anniversary of 9/11. And on top of that, the same institutions attacked on 9/11/01 were the ones suffering in recent days

Taking a $200 million short-position is not a problem if your net worth is $1Bn or so and your camels are already paid for.

1 comment:

Phelony Jones said...

was thinking the same thing.