May 4, 2009
I think the question should be not how short selling
is modified but rather whether it should be permitted as an investment instrument.
Short selling does not serve the small investor. When
we find that a stock no longer meets our requirements
we simply sell it and make an alternative investment.
The goal of our market should be to invest in America
not destroy it which is what happens one stock at a time when short selling amplifies normal selling. It creates unnecessay flux in the market and serves the interest of speculators not true investors.
While I hope for real change I expect to see a resolution
that reflects business as usual form the SEC that is to say no meaningful change.