September 11, 2008
When is the SEC going to wake up and re-implement some type of broad up tick rule and a permanent naked short selling rule? It seems catering the the hedge funds over the last year or more as not been a strategy that is working for the average investor. Having some of our major financial institutions dissolve is not in the best interest of anyone, other than those shorting the stocks. It is nearly impossible to have a company raise capital when the shorts are in control of the stock. It is time to get the rules back in place that have been part of our financial history.
Michael
Michael Mullen
Senior Investment Management Specialist
First Vice President-Investments
Portfolio Manager