MakinMoney, I share your and brianteks disgust at shorting. For the life of me I don't see how the activity fits into the whole publicly traded stocks system.
Basically, investing in publicly traded stock is to bring companies wanting capital and investors with capital to invest together for mutual benefit. Companies often need the money for growth. Growth creates jobs and expansion potential. A good think, right.
Along comes shorters. As I understand it they "borrow" shares of serious investors from cooperating brokerages. Shorters are then motivated to do all in their power to beat down the PPS. They do it through manipulation or even floating bad rumors about the companies. They often hire basshers to "Captain" their skulduggery. They are known to spread lies among the associates of the companies they are shorting.
We sometimes delude ourselves by thinking it will be a temporary problem. However, often companies need a healthy PPS for financing and expansion. As shorters keep the PPS down often deals fall through. It can get so bad that some companies have been driven to near zero. The shorters dream.
I simply don't understand why shorting is legal. It's contrary to the whole point of investing in publicly traded companies.
Naked Shorting is another whole 'nuther disgusting thing.
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