The shorting of AXON will begin in about two weeks when the IPO lockup period expires. Where will those investors who bought into AXON IPO for the ALZ. indication go if they sell AXON? True hedge funds as opposed to short speculators like to have a pair trade to neutralize overall market risk. Short VW long BMW ect. Or short Oil Company X stock while long it's bonds. These types on pair trades are usually kept on for the length of time of the perceived market place advantage in this case phase 2/3 duration of the competing drug candidate. People often confuse money managing hedge funds with speculating trading firms lumping them together as "Hedges" Both have sophisticated methods but trading firms are characterized as "hot money" opportunists while hedge funds are the opposite as the goal is to sacrifice some potential profit to maximize preservation of capital of wealthy individuals and institutions. Hedge funds want to stay rich Trading firms are trying to get richer. One takes the position of the House in a casino the Traders are the gamblers. Of course gamblers will cheat if they can.
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