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A one-of-a-kind book that shows you how to cash in on the latestinvesting trend--short selling The Art of Short Selling is the best description of this difficulttechnique.--John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters Kathryn Staley has done a masterful job explaining the highlyspecialized art of short selling. Her approach to tell A one-of-a-kind book that shows you how to cash in on the latestinvesting trend--short selling The Art of Short Selling is the best description of this difficulttechnique.--John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters Kathryn Staley has done a masterful job explaining the highlyspecialized art of short selling. Her approach to telling the truestories of famous investment 'scams' will keep the readerspellbound, while teaching the investor many cruciallessons.--David W. Tice, Portfolio Manager, Prudent BearFund Selling short is still a misunderstood discipline, but even themost raging bull needs to know this valuable technique to masterthe ever-changing markets.--Jim Rogers, author, InvestmentBiker On the investment playing field, there is perhaps no game moreexciting than short selling. With the right moves, it can yieldhigh returns; one misstep, however, can have disastrousconsequences. Despite the risk, a growing number of players areanteing up, sparked in part by success stories such as that ofGeorge Soros and the billions he netted by short selling theBritish pound. In The Art of Short Selling, Kathryn Staley, anexpert in the field, examines the essentials of this importantinvestment vehicle, providing a comprehensive game plan with whichyou can effectively play--and win--the short selling game. Whether used as a means of hedging bets, decreasing the volatilityof total returns, or improving returns, short selling must behandled with care--and with the right know-how. As Staley pointsout, Short selling is not for the faint of heart. If a stock movesagainst the position holder, the effect on a portfolio and networth can be devastating. Investors need to understand the impacton their accounts as well as the consequences of getting bought inbefore they indulge in short selling. The Art of Short Sellingguides you--clearly and concisely--through the ins and outs of thishigh-risk, high-stakes game. The first--and most important--move in selling short is to identifyflaws in a business before its share prices drop. To help youtackle this key step, Staley shows you how to evaluate companyfinancial statements and balance sheets, make sense of returnratios, detect inconsistencies in inventory, and analyze thestatement of cash flows. Through real-world examples thatillustrate the shorting of bubble, high multiple growth, and themestocks, you'll proceed step by step through the complete processand learn to carry out all the essentials for a successful shortsell, including quantifying the risk factor and orchestratingcorrect timing, as well as implementing advanced valuationtechniques to execute the sell/buy. Packed with landmark, cutting-edge examples, up-to-the-minuteguidelines, and pertinent regulations, The Art of Short Selling isa timely and comprehensive reference that arms you with thenecessary tools to make a prepared and confident entrance onto theshort selling playing field.


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A one-of-a-kind book that shows you how to cash in on the latestinvesting trend--short selling The Art of Short Selling is the best description of this difficulttechnique.--John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters Kathryn Staley has done a masterful job explaining the highlyspecialized art of short selling. Her approach to tell A one-of-a-kind book that shows you how to cash in on the latestinvesting trend--short selling The Art of Short Selling is the best description of this difficulttechnique.--John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters Kathryn Staley has done a masterful job explaining the highlyspecialized art of short selling. Her approach to telling the truestories of famous investment 'scams' will keep the readerspellbound, while teaching the investor many cruciallessons.--David W. Tice, Portfolio Manager, Prudent BearFund Selling short is still a misunderstood discipline, but even themost raging bull needs to know this valuable technique to masterthe ever-changing markets.--Jim Rogers, author, InvestmentBiker On the investment playing field, there is perhaps no game moreexciting than short selling. With the right moves, it can yieldhigh returns; one misstep, however, can have disastrousconsequences. Despite the risk, a growing number of players areanteing up, sparked in part by success stories such as that ofGeorge Soros and the billions he netted by short selling theBritish pound. In The Art of Short Selling, Kathryn Staley, anexpert in the field, examines the essentials of this importantinvestment vehicle, providing a comprehensive game plan with whichyou can effectively play--and win--the short selling game. Whether used as a means of hedging bets, decreasing the volatilityof total returns, or improving returns, short selling must behandled with care--and with the right know-how. As Staley pointsout, Short selling is not for the faint of heart. If a stock movesagainst the position holder, the effect on a portfolio and networth can be devastating. Investors need to understand the impacton their accounts as well as the consequences of getting bought inbefore they indulge in short selling. The Art of Short Sellingguides you--clearly and concisely--through the ins and outs of thishigh-risk, high-stakes game. The first--and most important--move in selling short is to identifyflaws in a business before its share prices drop. To help youtackle this key step, Staley shows you how to evaluate companyfinancial statements and balance sheets, make sense of returnratios, detect inconsistencies in inventory, and analyze thestatement of cash flows. Through real-world examples thatillustrate the shorting of bubble, high multiple growth, and themestocks, you'll proceed step by step through the complete processand learn to carry out all the essentials for a successful shortsell, including quantifying the risk factor and orchestratingcorrect timing, as well as implementing advanced valuationtechniques to execute the sell/buy. Packed with landmark, cutting-edge examples, up-to-the-minuteguidelines, and pertinent regulations, The Art of Short Selling isa timely and comprehensive reference that arms you with thenecessary tools to make a prepared and confident entrance onto theshort selling playing field.

30 review for The Art of Short Selling

  1. 5 out of 5

    Asif

    Pleasantly surprised with this book as I had low expectations to begin with. The actual book was fun and even for an analyst like me with 8 years of experience I managed to get a lot of new insights. The writing is direct and to the point without the storytelling flair that people like Michael Lewis has managed in his books.

  2. 4 out of 5

    Senthil

    spellbound

  3. 4 out of 5

    Godfrey

    If you were hoping for a book that blindly cheerleads the work of short sellers, you came to the wrong place. Kathryn F. Staley is a charming writer, incisive thinker, and this excellent and ageless work is as full with well-told stories of short selling gone horribly (and I use the word horribly advisedly) as of it gone well; and both types of stories are incredibly informative. Some of my favorite quotes below: “The main weakness of professional short sellers—an inability to judge the timing of If you were hoping for a book that blindly cheerleads the work of short sellers, you came to the wrong place. Kathryn F. Staley is a charming writer, incisive thinker, and this excellent and ageless work is as full with well-told stories of short selling gone horribly (and I use the word horribly advisedly) as of it gone well; and both types of stories are incredibly informative. Some of my favorite quotes below: “The main weakness of professional short sellers—an inability to judge the timing of collapses—is a strong argument for attention to short selling by any entity that owns stocks. Short sellers are consistently years too early when they sell stocks. Stockholders are always slow to sell even when the evidence is irrefutable and the future for profit bleak. The years of irrational price behavior in a deteriorating company provide stock owners with years to sell a problem stock. Portfolio managers or individuals who attempt to educate themselves about the reason for escalating short interest in stock holdings can radically improve [their] returns by avoiding torpedo hits—they can use the weakness of the discipline as a strength.” (page 13) “Roberston feels valuation bets on price alone make bad short sales: There must be either a fundamental change in the outlook for the company or a major misconception by the stock-buying public.” (page 24) “DiMenna shorts five types of situations: frauds, earnings disappointments, hyped stocks where he can shoot holes in Wall Street’s consensus expectations, industry themes were macroforces are negative, and deteriorating balance sheets. He reassesses short positions continually and, before he shorts, tries to determine the catalyst that will cause a stock to fall. He generally will not short stocks with strong relative strength and earnings momentum solely on the basis of overvaluation. Typically, he waits for these stocks to break before getting involved. He avoids short candidates in a crowded field unless the company is terminal.” (page 25) “The Feshbachs do not find company visits or Wall Street analysts productive ways to gather information. Talks with management are not fruitful: ‘The company didn’t get to be a good short without management’s help.’ Wall Street is no help: ‘That’s the place to get the bull story, not the bear story. The bias negates their usefulness to us in a lot of incidents.’” (page 29) “Analytically, Chanos says he does not do anything that is very different from other managers, but his use of return on invested capital as a key indicator is unique. ‘Using this, we’ve been able to find companies that are not what they appeared to be.’ His calculation is: earnings before interest and taxes divided by average total capital (which is defined as total liabilities plus equity minus current liabilities plus short-term debt or, to say it another way, the return on all interest-bearing liabilities plus equity plus deferred taxes and short-term debt. ‘That ratio will reveal a lot of wormy companies and poor businesses. It’s a tough number to screw around with.” (page 35) “The single most important section in a prospectus is the risk-factor section called ‘Investment Considerations.’ The company always tells you why it will fail.” (page 58) “Does this work—is the prospective return worth the risk for the stockholders? The second question is: How soon will the new company run out of money? Shorts almost always judge correctly if the business is dying. On the timing of the demise, they are seldom right. Someone is usually available to buy stock, loan money, offer short-term bank debt long after the company is in nearly terminal condition. Add two years to a short’s best projection, and you might only have a couple more years to wait.” (page 64) “View the IPO document as a business person. Does the business make sense? Can prices be high enough to support the capital investment in glitzy store interiors? Can the necessary expansion be funded?” (page 81) “The very backbone of a bull market is growth—new products, new presentation, new technology—spectacular growth opportunities that offer an investor the portfolio appreciation of the next Xerox. Short sellers itch to short these stocks. More savvy investors know how to own them, then sell them twice.” (page 93) “When a company switches or expands its business line into something completely different, it generally means management fears that growth will slow in the main line.” (page 108) “DO YOUR OWN WORK.” (page 142) “The first and biggest reason for failure in stock selection on either the short side or the long side is too little work. Particularly treacherous on the short side, the absence of a carefully reasoned case can have painful consequences.” (page 223) “Most exceptional short sellers are investors, not short-term traders. On occasion, they might make profitable trades abased on temporary imbalances in the financial statements. But on the whole, even if they know the company cold, it is impossible to be prescient about the timing. When they make those bets, they do it with the knowledge that they are departing from fundamental wisdom; and, if the bet does not work quickly, it is smart to exit. Novices, fools, and retail brokers sell short for quick trades.” (page 225) “‘The mistake is always shorting the company that’s not that bad.’ He used the example of New England Critical Care, Systems Software Associates, and L.A. Gear. The analyst has to be convinced that the core business will be overwhelmed by the problem and not just hiccup. ‘The biggest mistakes we’ve made are where we’ve seen a company that is overstating earnings but where the internal engine of the business is still strong.’” (page 233) “Or, in the words of Bernard Baruch, ‘No law can protect a man from his own errors. The main reason why money is lost in stock speculation is not because Wall Street is dishonest, but because so many people persist in thinking that you can make money without working for it and that the stock exchange is the place where this miracle can be performed.” (page 248) “The sixth step is to keep paying attention: If you decide not to short a stock after the preliminary analysis, it might be a great idea next year. If you do short it now, watch it. Events move so slowly in the financial world that it is hard to maintain concentration.” (page 274) “The facts are somewhere, free for the digging.” (page 275) “Hard work is outmoded, so if you do a little, you will be far ahead. Analysts look at company PR rather than fundamentals and financials, and that provides opportunities and longe periods of market inefficiencies.” (page 275)

  4. 4 out of 5

    Johnny

    "Growth is a good stock to own and a great stock to short if you can time both sides of the pyramid." "Growth is a good stock to own and a great stock to short if you can time both sides of the pyramid."

  5. 4 out of 5

    Matthew

    Superb. I've heard Kathryn Staley speak and she is sharp, thoughtful and dry, a very charming combination. (http://www.frankvoisin.com/2012/05/15...) This book is on hedge fund reading lists but I hadn't felt compelled to pick it up until after I heard her speak and then I felt I really should. No regrets there. Instead of theory, she discusses case study after case study. The chapters are loosely organized by type of short sell candidate. A brief background is given, then a summary of the short Superb. I've heard Kathryn Staley speak and she is sharp, thoughtful and dry, a very charming combination. (http://www.frankvoisin.com/2012/05/15...) This book is on hedge fund reading lists but I hadn't felt compelled to pick it up until after I heard her speak and then I felt I really should. No regrets there. Instead of theory, she discusses case study after case study. The chapters are loosely organized by type of short sell candidate. A brief background is given, then a summary of the short thesis, then a discussion of how the trade actually played out, in terms of corporate events, street reaction and market pricing. There are a lot of lessons to be drawn, which she then summarizes in a more theoretical final 13th chapter. This is good but don't expect anything unique, amazing and game-changing -- the value of the book is really in the overall tone/attitude/stance (which demonstrates her mindset) and in the historical case studies. I'd apply a one-star deduction as the examples do feel dated and I think that financial statement manipulation may have evolved and become more sophisticated as analysts have learnt from precisely books like this one (for up to date examples, read the Bronte Capital blog in its historical entirety). Besides the analysis she also gives useful practical tips such as checking the short interest relative to the free float to see how far the idea has also been used and whether you might be exposed to a short squeeze. And finally, admirable for this quote of final advice: "Short sellers are entitled to their opinions, as are executives and analysts. And so are you. Do not take it too seriously; it is only money."

  6. 5 out of 5

    Karthikeyan Mylswamy

    As I am not into short selling, this book felt little dry. But the author was clear with the concept and definitely a good read. I thank the author for getting us to know about the mysterious world of short selling.

  7. 4 out of 5

    Yes & Not Yes

    This IS about short selling, but its also about how to read financial statements to find the beginning signs of a bad or unprofitable company. Very good read.

  8. 4 out of 5

    InvestingByTheBooks.com

    There are very few books on fundamental short selling of stocks but this is one of the more well-known ones. It covers many aspects of the trade very well but leaves others out. Unfortunately we are still waiting for the definite book on shorting, preferably written by some of the veterans of the game. There are three parts to the book where the first gives an okay background to the area and its practitioners. Short candidates are categorized into companies that a) lie to investors through their There are very few books on fundamental short selling of stocks but this is one of the more well-known ones. It covers many aspects of the trade very well but leaves others out. Unfortunately we are still waiting for the definite book on shorting, preferably written by some of the veterans of the game. There are three parts to the book where the first gives an okay background to the area and its practitioners. Short candidates are categorized into companies that a) lie to investors through their accounting, b) have expensive valuations and c) will be negatively affected by external events. Signals used by those shorting are according to the author a) accounting warning flags, b) signs of “insider sleaze”, c) stellar stock price rises, d) cash consuming companies and e) overvalued assets or ugly balance sheets. Then the absolute bulk of the book is a number of rather old case studies meant to exemplify different types of short selling cases – although not exactly linking to the categories in part one. The author has had good access to commentary from a number of veteran short sellers through interviews. I still think the author could have drawn more explicit deductions from these, as they now mostly resemble a line-up of successful war stories. The storyline is that clever short sellers first see something that daft Wall-Street analysts or long-only investors couldn’t detect. Then the investment case either takes longer to pan out than expected or the short sellers are tormented by violent short squeezes causing pain but in the end they are always vindicated and the company lead by the evil managers dwindles into disaster. Finally, there is a short wrap up where Staley draws some general conclusions about the field but also gives a historical account of shorting. Kathryn Staley have, as I understand it from the sleeve of the book, worked with both hedge funds and brokerages in trying to find stocks to short. She has taught financial statement analysis for AIMR, the Association for Investment Management Research and “reads balance sheets and footnotes for fun and profit”. Despite her experience as a short seller there is very little of technical detail in the book as it is written in an anecdotal, almost journalistic, style. As an example, if Days Sales of Inventory is one of the most reliable signs of trouble as is claimed, how is the ratio calculated, what are the pros and cons of using it and which other indicators are useful to complement it with? Even though the title points to the “art” or short selling I think the “craft” could have deserved some space. Even though the tone can sometimes become a bit too idolizing the strong aspect of the book is that you get a fair grip of the psychology of shorting and above all of the character of short sellers. Their contrarian nature is described as ambitious, cynical, driven, single minded – even pigheaded – and sometimes frugal and anti-social. They are curious, hard working and find pleasure in finding the truth and being smarter than the gullible investment crowd as stocks blow up. The author describes an almost moralist disposition since short sellers enjoy exposing the corporate fraudsters who waste the shareholders money. I also like how the book defuses short selling and shows how very similar the research into investment cases is on the short side and the long side. Long-only investors can actually learn plenty from the attention to accounting detail among short sellers. Despite the mixed review the unfortunate truth is that there aren’t many other books to recommend instead so the book could still be worth purchasing. We are still waiting for the definite reference book on shorting.

  9. 4 out of 5

    Dawei Liu

    While dated, the Art of Short Selling was a very educational review of many of the great short cases of the 80’s and 90’s. Many of the examples are now well known, but the book still does a great job of summarizing why you should short and how you should short. Similar to an academic paper, it actually goes over the history of shorting in various countries as well as many of the most famous practitioners in the past. The book also goes over famous short sellers of the 90s; many of which are stil While dated, the Art of Short Selling was a very educational review of many of the great short cases of the 80’s and 90’s. Many of the examples are now well known, but the book still does a great job of summarizing why you should short and how you should short. Similar to an academic paper, it actually goes over the history of shorting in various countries as well as many of the most famous practitioners in the past. The book also goes over famous short sellers of the 90s; many of which are still famous today (for example Jim Chanos and Julian Robertson). My favorite part of the book was how it spent time not only describing what happened during each short, but also the various reactions of many of the public market participants during the events. Simply put, the book’s great takeaway about shorting is that it’s hard. Most of the final quarter of the book is about how to apply the lessons described earlier into your own work. There’s simply no substitute for putting the work in and it’s clearly much harder to be short a stock than it is to be long a stock. Though each case seems out-dated and far off, there are multiple keen nuggets anddetails sprinkled within each chapter. Reading this book is absolutely an active activity that requires a reader to remember specific lessons that are still applicable in today’s market. The Art of Short Selling isn’t the easiest read. The tone is funny but at times dry. Obviously since it’s not a “modern” work, many of the references will be lost to those who haven’t lived in that era, but if you’re willing to dig in and spend some time, it’s a book that really does teach some good lessons.

  10. 5 out of 5

    Yixing J

    This is a pretty awesome book on short selling, which I should revisit often. * shorting is hard work * I learnt about short squeeze and short interest * margin of safety is very important * talk to other people is important * timing is difficult * can short fad product that does not have long life * good management can fix valuation problems * don’t add to short fearless when crack finally comes * the oldest living all-short professional shorter is only 52 years old... * high institutional ownership can This is a pretty awesome book on short selling, which I should revisit often. * shorting is hard work * I learnt about short squeeze and short interest * margin of safety is very important * talk to other people is important * timing is difficult * can short fad product that does not have long life * good management can fix valuation problems * don’t add to short fearless when crack finally comes * the oldest living all-short professional shorter is only 52 years old... * high institutional ownership can make for a quick collapse * statistically, the later the earnings release, the worse they are??

  11. 4 out of 5

    Robert Martin

    The Art of Short Selling is a mix between a manifesto and a practical guide. Written at a time when short selling was even more taboo than it is today, with only a few players taking the "road less travelled" and actively shorting, you can forgive the almost narcissistic battle-hardened tone. Not for the faint of heart – the majority of the book is turn-by-turn case studies of short equity trades (including analysis of the financial statements), which are very helpful if you're willing to spend t The Art of Short Selling is a mix between a manifesto and a practical guide. Written at a time when short selling was even more taboo than it is today, with only a few players taking the "road less travelled" and actively shorting, you can forgive the almost narcissistic battle-hardened tone. Not for the faint of heart – the majority of the book is turn-by-turn case studies of short equity trades (including analysis of the financial statements), which are very helpful if you're willing to spend the time grappling with the accounting technicals but some of them are quite dry.

  12. 5 out of 5

    J Brown

    This review has been hidden because it contains spoilers. To view it, click here. I thought that it would be a lesson in stock prices, when to get in and out, and how. Instead the book was filled with classic examples of short sales and the mechanics behind the companies that were sold short. There are a few good bits of wisdom peppered throughout the book dealing with the growth and lack there of companies. It also provides a "quasi-timeline" of short selling eras if that is what you would call them. It also details the average life span of a short seller in a few places. I thought that it would be a lesson in stock prices, when to get in and out, and how. Instead the book was filled with classic examples of short sales and the mechanics behind the companies that were sold short. There are a few good bits of wisdom peppered throughout the book dealing with the growth and lack there of companies. It also provides a "quasi-timeline" of short selling eras if that is what you would call them. It also details the average life span of a short seller in a few places.

  13. 4 out of 5

    Russ

    Staley is to short selling what Graham and Dodd are to security analysis. This is a wonderful book about the taboo subject of selling short. It is loaded with stories about actual events as well as instruction on the art of short selling. At 20 years old, it feels a little dated but strangely appropriate for the current state of the stock market. If you've ever wondered about selling short or consider yourself a short seller, this is the book to read. Staley is to short selling what Graham and Dodd are to security analysis. This is a wonderful book about the taboo subject of selling short. It is loaded with stories about actual events as well as instruction on the art of short selling. At 20 years old, it feels a little dated but strangely appropriate for the current state of the stock market. If you've ever wondered about selling short or consider yourself a short seller, this is the book to read.

  14. 5 out of 5

    Azi Nu

    it's just stories about companies that went bankrupt... and how others short them... doesn't teach u anything about short selling.... if it does, it's definitely not in first 5 chapters of the book. not what i was expecting it to be. therefore i wish i could give less than 1 *. it's a waste of time and money. it's just stories about companies that went bankrupt... and how others short them... doesn't teach u anything about short selling.... if it does, it's definitely not in first 5 chapters of the book. not what i was expecting it to be. therefore i wish i could give less than 1 *. it's a waste of time and money.

  15. 4 out of 5

    Santosh Shetty

    Good quick read. Companies are a bit dated obviously but the patterns are unmistakable. There are very few books on short selling anyway this is a good one.

  16. 4 out of 5

    Corey Thompson

    Financial markets are a game. Those who figure out the gaps/errors in the game find the edge the quickest. Must read for individuals interested in those errors.

  17. 4 out of 5

    Lukasz

    recommended: [The Best Book On Investing That You Have Never Heard Of - YouTube](https://www.youtube.com/watch?v=hE0gn...) recommended: [The Best Book On Investing That You Have Never Heard Of - YouTube](https://www.youtube.com/watch?v=hE0gn...)

  18. 5 out of 5

    Plato So

    the philosophy and practical details are good, but examples are a little far fetched and perhaps too colorful in word choice

  19. 5 out of 5

    Gabriel Pinkus

    Very thorough, very informative, very simple. I'd like to develop the habit for myself of reading financials with the skepticism of short sellers. Going long with the skepticism of a short seller would prevent looking for confirming evidence which leads to self-serving bias and other unfortunate biases inhibiting rational investment decisions. Thank you, Kathryn! I think this book would have been a bit better if Kathryn included some shorts that did NOT work out. You want to learn about when a phil Very thorough, very informative, very simple. I'd like to develop the habit for myself of reading financials with the skepticism of short sellers. Going long with the skepticism of a short seller would prevent looking for confirming evidence which leads to self-serving bias and other unfortunate biases inhibiting rational investment decisions. Thank you, Kathryn! I think this book would have been a bit better if Kathryn included some shorts that did NOT work out. You want to learn about when a philosophy has worked and when it hasn't in order to better judge it.

  20. 4 out of 5

    Brian Zheng

    Recommended by a few high profile fund managers as a must read and the best book about short selling. A very analytical book. The author categorizes different type of short selling opportunities which is supplied with large number of examples in 80s and 90s. The last chapter is especially helpful as the author lay out the research framework for a shortselling opportunity.

  21. 4 out of 5

    Mike S

    Great introduction to short selling based on fundamentals (not for day traders). Thorough discussion with lots of examples, the author illustrates her points very clearly, this book was written a few years ago but it's still a very good read. I would recommend this book to anyone who wants to know what it takes to be a successful short trader. Great introduction to short selling based on fundamentals (not for day traders). Thorough discussion with lots of examples, the author illustrates her points very clearly, this book was written a few years ago but it's still a very good read. I would recommend this book to anyone who wants to know what it takes to be a successful short trader.

  22. 5 out of 5

    Sid1983

    Self note: mostly filled with examples but chapters outlined so relevant points in intro and at end of each chapter. last few chapters summarize the *process* quite well. Have incorporated into checklist

  23. 4 out of 5

    Tyson Strauser

    Should be on every investor's shelf, a diagnostic of some of the most common short selling themes, including fads and bubbles usually with high multiples, accounting management, and poor cash flow as a leading predictor of earnings deterioration. Should be on every investor's shelf, a diagnostic of some of the most common short selling themes, including fads and bubbles usually with high multiples, accounting management, and poor cash flow as a leading predictor of earnings deterioration.

  24. 4 out of 5

    Ming

    a good book with anecdotal evidence and what to look for in a short. Illustrates invariably the most important lesson in shorting: timing. Also goes over the basics of how to recognize signs of business deterioration and management mumbo jumbo to cover it up.

  25. 4 out of 5

    Steve Hall

    The bible on short selling

  26. 5 out of 5

    Evan

    Good Short Overview

  27. 5 out of 5

    Brad Favreau

  28. 4 out of 5

    Greg Stefflre

  29. 4 out of 5

    Barry Rowe

  30. 5 out of 5

    Swarup Kundu

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