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Ever since Dutch trader Isaac Le Maire invented short selling in 1609 (and evoked the first ban on it), short selling has been seen as the dark side of stock tradingslightly suspect and too intricate for individual investors. Today, short selling is an integral part of all markets and new tools can make it as simple as buying stocks.
As Michael Shulman explains in this book, a short seller is a profit-seeking contrarian who sees opportunities others do not as a stock or market segment moves down. In Sell Short, Shulman turns the mystery of short selling inside out, revealing how using the same fundamental approach underlying the purchase of a stock can lead to tremendous opportunities on the short side.
Shulman does not believe traditional short selling is a good trading approach for individuals and this simple, but comprehensive overview of short selling focuses on buying puts or, in some situations, exchange-traded funds (ETFs). Throughout these pages, Shulman reveals the day-to-day details needed to generate short side profits. He describes how short selling works and how individual investors can best identify compelling opportunities before Wall Street finds them. Shulman also helps you to determine what part of your portfolio will fund short selling, what percentage of your capital should go to the short side, and how big each position should be.
Filled with in-depth insights and straightforward advice, Sell Short walks you through the mechanics of opening, managing, and closing a position, including rolling or pressing a position to increase profits. (Shulman does cover traditional shorting, though, in case you'd like to take that route.)
Step by step, this book prepares you to:
Prospect for gold in fading stocks
See opportunities that Wall Street misses
Create, manage, and exit a position
Short stocks, markets, and indices as well as specific sub-segments of the market, real estate (through REITs), commodities, and even countries
Create the "rocket-fueled trade"the higher-risk purchase of calls on double inverse ETFs
Explore advanced trading techniques such as selling calls, hedging, bear call spreads, selling puts on short ETFs, and more
There is no better guide for individual investors to the short side of the market than Michael Shulman. He is the man who shorted Bear Stearns seven days before its historic meltdown and predicted in September 2008 that WaMu and Wachovia would follow Lehman down the tubes. His newsletter, ChangeWave Shorts, has been a leading source for individual short sellers.
In this volatile market, opportunities abound if you have the will and the know-how to reach for them. Are you ready to come over to the short side?
I got to Chapter 3 and could not believe what I read about Puts. Chapter 3 "The case of for Puts" has the definition of puts, completely wrong. Read morePublished 23 months ago by Henry
Detailed and complex book on selling short, gives pros and cons. Great for amateur and skilled investors alike. Easy to read and very well organized.Published 24 months ago by Nanette Ng
I like the book -- I wrote it - and I just noticed a review that found a glaring editorial mistake in the book. Read morePublished on February 7, 2010 by M. J Shulman
The author correctly stated: "this is not a trading system". For disclosure my comments are based on about a 45 minute study of a friend's copy. Read morePublished on July 3, 2009 by Let's go deep!