A united campaign aimed at bringing shorts to weaken a pegged company can bring it to ruin. It wasn't that many years ago when Overstock.com was virtually ruined due to a massive shorting campaign. What they (the shorts) were doing was declared illegal but it brought the company to the brink of bankruptcy.
Shorts represent the other side of longs as we all know. But that doesn't mean that as a long I must like what they do. In essence, they seek to undermine the very stability of companies in which I've invested considerable cash of my own. Their efforts do me no good, for sure. If you can show me convincingly that shorts are good for a company, I'd like to see that one.
NGL has been viciously attacked by shorts for half a year now. I've added thousands of units due to their effectiveness, enabling me to buy units at beneath $6 which is a fire-sale price point. But I'm not going to suggest shorts helped me although they forced some of the steam out of the stock. And that brought units into a more affordable site.
So if I rail against a company, it's not always because of the ways in which the company operates. Rather, it is occasionally more about management's failure to put unitholders and shareholders first. In the case of CVRR, I'm convinced that folks will be piling on now for the fat distribution. But I'll bet these same folks will be ruing the day they first bought into Icahn's rhetoric as I firmly believe it's to be a one-off situation, not likely to be repeated any time soon.
Carl Icahn is hardly a name people associate with being a "good guy, all heart, determined to improve the lives of others." I view "me-me" individuals as "pig people" for they exhibit not much other than their making a lot of money through the wielding of massive power stemming from an accumulation of wealth.
Give me a good old blue-shirted factory worker! I'll trust him a lot more quickly than the ornery, self-serving bastard I see in Mr. Icahn. My dad was such a person, always recognized as extremely capable, caring and transparent.
However, these are not more than opinions, mind you. And opinions are subject to change day to day as things come to light. Nobody can say my opinions or his or anyone else's are more worthy of an audience. And this is why I always encourage others to follow their own instincts as I'm convinced that's where our greate3st successes will be found.
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