I'm currently reading "Too big to fail" by Andrew Ross Sorkin, about the 2008 financial crash. A short quote that caught my eye regarding short selling and the recent comments (by Spanish ministers, Telefonica's CEO Alierta and others) about such practice hitting the Spanish stock markets.
"For the last several weeks, Lehman has been complaining about short-sellers. Academic research and our experience indicate that when management teams do that, it is a sign that management is attempting to distract investors from serious problems" (David M. Einhorn, chairman and co-founder of Greenlight Capital, a renowned hedge fund, 3 months before Lehman's collapse).
Self explanatory...
----------------------------
Posted from my Blackberry
No comments:
Post a Comment