Replies to post #347917 on Mr Cooper Group Inc (COOP)

[mypenneys]

I agree with ya the Naked Short that do not exist outnumber the listed 40,000,000 number we see.

[never-again]

Large, the short report we see posted is generated by FINRA and is comprised only of FINRA members submited information. No others, only those members. It's also based on the honor system. It's not a blanket membership either, meaning any subsidiary of the member firm isn't automaticly a member. Any short position held outside of FINRA is not included in that report. I find it fascinating that investor after investor quotes the FINRA report as the exact # of shorts.

FINRA has an application process and they don't have to accept any firm into the organization. It's more of a club than anything else.

Ive posted all the links to this before , its in my post history.

[gophilipgo]

Large, I don't think many long WAMUQ investors out there believe there are only 40 million shares short. But I would venture to say many of us believe it is less than the billion+ that is sometimes quoted here and on other boards. (Pre-bankruptcy is a different story.)

Why on earth would anyone holding a large NSS position here continue to hold it for 3+ years? That's just not logical for many, many reasons, the most important being that these investors aren't going to let their money sit around that long when they can make far more elsewhere by cashing out at an already handsome profit instead of holding for an additional few percent, which is not even guaranteed. Most of them cashed out within weeks after the bankruptcy, imo. The volume was there to do so. (For example, over 2 billion shares traded on one trading day - October 3, 2008.)

Anyway, this has been argued it to death, so I guess we'll just have to agree to disagree.