Sunday, May 10, 2020 1:40:24 PM
Of real importance shorts today have some of the same methods as the short I was in a battle with in the late 1270s or early 1980s.
The method available was the Wall Street Journal, Barrons, and the telephone. That's it. How they worked is they would first build a giant short position in an attractive company. The company they attacked was OREM with I guessing a PE Ratio below 10. Things were different then is an understatement. The Dow was below 1000. No kidding.
So they now have a giant short. When they smell blood they start the bad press flow. This yea hoo from Hutten says this. Merrill that. Neither knew squat. OREM was 45 minutes from my home. You might say I knew the whole company. It starts down. I buy a huge block offered to our trading department. While I walk into trading with the buy ticket it drops 4 points.
I now know who doing it and how.
It was Bob Wilson. An honorable man, very famous in the era and subject of one chapter in the most successful book of the 1970. Wilson was attacking my position.
Today a short will tell half truths at best or provable lies in two seconds on many boards while proven liars like that Adam of Stat write his lies. All attempting to change the phycological basis for the current stock price / try to make you sell your shares and think you made a mistake.
Back to Bob Wilson. His firm was calling / telephone calling every institutional shareholder just as I was also using my phone telling my side of the truth. I was one. They had many. I won. How? One institutional exec call listened intently. Made a presentation to his Board. Called me back just as they announced it on the tape. He told me to buy 80% of the whole company for his company account. I did and the rest is history. Investigate, its a true story.
The shorts today tell one side forgetting to tell all, and lie via web sites such as STAT.
Short answer, Darn Right they use an altered by tech formula to rob uninformed shareholders of huge future gains. Don't be taken advantage by this group.
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