April 10, 2009
As a senior investment professional who has managed equity portfolios as well as hedge funds through a long career, PLEASE reinstate both the borrowing and the uptick rules for short selling! Do not capitulate to the vested interests of the security exchanges.
We have just emerged (barely) from an era of unfettered, ideologically driven, laissez faire financial markets. We must restore the previous balance – admittedly too late to repair the incalculable damage already done, but at least to return to an era of sanity where the individual investor again has a chance to participate in our capital markets on more even terms.
Bruce Lueck
Managing Partner, Zephyr Unicorn Funds