May 5, 2009
I AM OPPOSED TO SHORT SELLING. I DO NOT UNDERSTAND HOW SOMEONE WHO DOES NOT LEGALLY OWN A STOCK CAN SELL A STOCK. IF YOU THINK POORLY OF A COMPANY THAN DON'T BUY THAT STOCK OR SELL YOUR ORDINARY SHARES - BUT DON'T ALLOW BORROWING STOCK TO SELL.
SHORT SELLING HURTS THE LONG TERM INVESTOR. IT'S A GAME FOR SOPHISTICATED INVESTORS TO THE DETRIMENT OF THE LONG TERM INVESTOR.
IN THE RECENT MARKET DOWNTURN SHORT SELLERS HELPED RUIN COMPANIES, JOBS, AND STOCKS - A FEW SHORT SELLERS WALKED AWAY WITH HUNDREDS OF MILLIONS OF DOLLARS.