Fred, look back at the messages of searcher15253 on this board, for example number 4347. He has explained in detail how SEB is in a some very cyclical businesses which have had an extraordinary and unsustainable coming together of positive factors in the last 2-3 years, which have boosted earnings to levels that (he believes) won't last. See also the thorough writeup at valueinvestorsclub.com.
very helpful. though i still cant see why it is being shorted to such a degree if we are assuming a forward P/E of 14, ya know? i assume it is just a function of the float, and the large short % is exaccerbated by that. seems like slightest good news could be cause for some serious squeezing though.