Bankers, Investors and Men of Affairs

Peacock
Sosen

Everywhere one hears the belief expressed that the "big money" is made on the short side, and that the greatest inside speculators are Bears. This view is entirely erroneous. One of the favorite arguments of the public bear element is as follows : the public generally buys, and the public generally loses money. Therefore the buying side is the losing side and the short side is the winning side. By this absurd and wholly unfounded deduction many bears are created.

Now, the fact of the matter is that the fortunes made on the short side of stocks are few and far between, while those accumulated by judicious operations on the long side are legion. The public loses its money, not because it purchases, but because its purchases are made at the wrong periods and its methods of operation are bad.

The Pitfalls of Speculation BY Thomas Gibson

I wished I had made more money on the short side of this market; but I'm grateful that I've kept my capital relatively intact. The financials were treated rather savagely today. The price discovery in this arena is likely to leave many wounded on the battlefield. UYG is trading below $18.70 after hours. I sold mine at $19.87--but I was remorseful that I didn't hold on a tad longer. But I met my reasonable objective, and I did not want to be a wounded on the battlefield.

Perennial bottom callers abound. It seems as if the news gets worse each day--just when you think that it cannot get worse. We've a collected mess. Moody's Bankers, Investors and Men of Affairs sure pulled a number on us, huh?