Well, way back last century when I was just getting started, I became enamored with Investors Business Daily. Those days are long since past. Not to knock the organization, mind you.
Anyway, Bill O'Neil, the founder, in one of his tapes I bought, said, "All stocks are bad. They're only good as long as they're going up."
He wasn't a fan of selling short. When it comes down to cases, hardly any of the these stock touts looking to sell you their wisdom and experience never talk about selling short. There are, of course, and always will be, stock touts who will tell you the world is going to end. But they never tell you to sell short. They tell you to buy gold.
Over the weekend, I viewed the latest The Investors Podcast called We Study Billionaires. It was a video interview with Chamath Palihapitiya of SPAC fame. My assessment of the interview was the man was deliberately being obtuse.
Aside from that, SPACs were all the rage starting in June of last year.
Folks did well with a few of them. Quite well, doubles, triples, quadruples.
Here is what I think about the SPAC sponsored companies going public. What many of them do is sell more stock because they are money losing operations that bleed cash. And the market values go south.
So why not short them.
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