Ask Americans to name a big company in trouble. The most frequent answer might well be Sears. Ask investors to name a no-brainer short and the most common answer would probably be Sears. Yet, Memento is shocked, Shocked, to find all that shorting going on!
(Still I think SHLD is a risky short, as are all shorts, IMO.)
I'm curious to see how Memento's beef plays out. But my guess is the story will peter out quickly. Big, high priced investment managers, like Memento, make dumb moves all the time. Like IHUBBERs, they rarely own up to their own shortcomings.
Easier for Memento to play the"victim" card. I'm waiting to see what respected financial writers have to say over the next few days.
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