Warp - are you really surprised by Buffet and many of the others. Blue Chips stocks and well established companies that have positive earnings and large cash supplies, are not dependent upon their stock for keeping their companies afloat, the have good P/E ratios and usually provide divendends at a % of the pps that keep the pps from going to low, something start up companies like GTE can not do.
So, in essence, naked shorting is not much of a problem for the blue chip companies and stocks that Buffet's Berkshire Hathaway owns, plus with 40 billion in the bank, he can take on any hedge fund. It is a problem, for start up companies, like GTE, and like other potential competitors to Buffet's well established Blue Chip companies.
Since naked shorting is no problem for him, and it kills many of his potential competitors, I can see why he does not have a problem with it, it is also why he any many other financial experts lack any credibility when it comes to this issue.
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