Replies to post #1108 on Zeev's Turnips Patch-No Politics (ZEEV)

[FinnTroll]

What would temper buying frenzies if it weren't for short sellers? It's the shorts that work hard to place fair valuations on stock prices. And at considerable risk I might add. It is when the shorters fail that we get mania bubbles and the subsiquent crashes. Just as the long term survival of a caribou herd requires the presense of wolves the market needs the dark siders.

Disclosure: I am only long at the present.
Les

[mish]

I think of my kids and betting against USA future somehow bothers me. Maybe its the delight some shorts take in it or perhaps my own jealousy after having been long so long or a combo of all those emotions. mike

Within reason I could care less about the future of overpriced USA securities.

The plain fact of the matter is they are hugely overvalued and will remain so on another 30% drop. Then we can take another look. Stocks are overvalued. You can do several ration things

1) Short
2) Sell
3) Just get out and stay out until you see compelling value
4) Trade

As for me I am mainly cash plus a few puts. I hope the ever loving bottom falls out of the market. A 60% haircut would be nice. Anyone who can go LTBH in this mess, at these PEs, with these accounting issues, probably deserves a big haircut.

M