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  • stocksock stocksock Feb 27, 2013 9:09 PM Flag

    Gotham's Manifesto on Financial Terrorism

    Wow. So, turns out that our friend Gotham / Daniel Yu / @LongShortTrader drafted a little manifesto just a few weeks ago about the challenges and benefits of going public with short-selling ideas. Eerily, it reads like a confession of financial terrorism. I'm sure that he was tacitly considering his EBIX thesis when he drafted this. I'm sure the EBIX lawyers will have a field day with this one (hey guys!)

    To find the article search Google for [thelongshorttrader The Perils of Going Public] and see the article from January 12, 2013. Here are some fun excerpts:

    "In short seller land, there tends to be two schools of thought when it comes to going public with one’s short position: those who (1) never go public and (2) those who go public.
    LST will not delve into the merits of the two schools’ approaches. Suffice it to say, however, that the asymmetric risk/reward of maintaining a short position (i.e. shorts get larger on you, as the position works against you, and visa versa), regardless of the fundamental merits of the short, warrants extreme caution if/when going public. If you go public, you better make it count; & you better be right (or otherwise humble about your thesis)."
    [OR POST ANONYMOUSLY HIDING BEHIND FABRICATED FACTS AND DISTORTIONS]

    "...decided to target a company that every short seller and their mother have been watching/critical of for many years. Mistake #4."
    [SEEMS GOTHAM DOESN'T FOLLOW HIS OWN RULES!]

    "Some have asked LST, “Why did the short seller go public with his position? Shouldn’t he have kept it to himself?” To which LST believes the short seller ... believes in his own ability to alter the outcome because he thinks he can (a) frighten weak longs to sell at year end (b) destroy confidence with a resulting lower stock price (b) limit flexibility of use of equity as currency, i.e. higher effective cost of capital; encourage uneconomic/non growth uses of cash such as buybacks (c) pressure regulatory bodies to act (d) draw attention to the most unsavory side of his target, leading the public and press to believe the target is defined by its worst members (e) cause customers and employees to worry, and leave."

    [^THIS WILL LOOK GREAT ENLARGED ON A POSTER BOARD AT TRIAL]

    Sentiment: Strong Buy

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