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Sell Short: A Simpler, Safer Way to Profit When Stocks Go Down Hardcover – March 30, 2009

2.9 out of 5 stars 13 customer reviews

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Editorial Reviews

From the Inside Flap

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 trading—slightly 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?

About the Author

Michael Shulman is the Editor of ChangeWave Shorts, a weekly newsletter from InvestorPlace Media that educates and informs readers on short selling stocks, providing specific recommendations on opening, managing, and closing short positions. In 2007 and 2008 his recommendations produced average returns greater than 50 percent. At ChangeWave, he was the founding manager of their research services for institutional investors, hedge fund investing, and ChangeWave Insight and also created and wrote ChangeWave Biotech Investor. Mr. Shulman was the founder and CEO of AtYourBusiness.com; an executive board member of NextGen Capital, a venture fund based in Fairfax, Virginia; and spent many years in the technology industry in Silicon Valley. His work has been published in a variety of trade, general business, and online venues, including SeekingAlpha.com, the Los Angeles Times, the Motley Fool, and Worth online. He has been a guest on Fox Business, CNBC, and the Options Trading Network and is a regular speaker at various money shows and traders expos around the country.
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Product Details

  • Hardcover: 225 pages
  • Publisher: Wiley; 1 edition (March 30, 2009)
  • Language: English
  • ISBN-10: 047041233X
  • ISBN-13: 978-0470412336
  • Product Dimensions: 6.4 x 0.9 x 9.3 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 2.9 out of 5 stars  See all reviews (13 customer reviews)
  • Amazon Best Sellers Rank: #902,151 in Books (See Top 100 in Books)

More About the Author

Michael Shulman has spent his entire career discovering and examining "what's new," and participating in their life. - solar energy in 1977, personal computers in 1985, digital content in 1995, venture investing and an Internet start up in 1999, financial advisory work since 2001. This focus on "the new" has brought him to the next "big thing" - an American manufacturing resurgence based on a once in a century revolution in the production and use of fossil fuels. Unlike other analysts, he believes in the importance of seeing things up close. The Little League team having the after game snack at Starbucks, validating the company is more than a retailer of coffee. Driving past cornfields planted up to road side and wind breaks being removed, a sign of the ethanol and export to China boom. Conversations with Roman hoteliers and restaurant owners about the severity of the European recession. A sign on the side of a road saying "Frack a well, bring a soldier home." And if you like single malts, go work in a distillery for a week, which he did in 2007. Mr.Shulman's most recent book, Made in America, is the first of four on the topic of an American energy and ,manufacturing renaissance to be published in 2013. He is a graduate of Georgetown University, is married to former ABC News correspondent Jackie Judd and is the father of twin sons.

Customer Reviews

Top Customer Reviews

Format: Hardcover
Sell Short recommends a strategy using Puts to profit from Falling Stocks.
In Chapter 3, Mr. Shulman asks "What Exactly Is a Put?" and then goes on in the paragraph that follows with an utterly wrong definition and/or description which would leave an investor/trader totally mis-informed of the definition of a Put. This one paragraph (which deals with the most critical concept for Sell Short - buying a Put option) shows the carelessness in writing and publishing the book 'Sell Short'. Given this carelessness, how can any reader have confidence in other aspects covered in the book by Mr. Shulman?

By the way, John Wiley and Sons has published other books (example: Trade Options Online by George A. Fontanills) which cover their subject well and with care. I have also read several other books on options and each one of them is written with care for accuracy and clarity of concepts explained. I was disappointed with the glaring error in Mr. Shulman's 'Sell Short'.
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Format: Hardcover
This book is NOT about shorting stocks. The author specifically says multiple times in the book that he does not recommend ever shorting stocks. He does describe how you can play the short side of the market through option puts, but does not advocate or describe how best to short a stock other than to say, "...don't do it."

I was sorely disappointed because I already know about options extensively. I trade puts long and short all the time. The problem with puts are that the spreads sometimes are too large, liquidity is too low, or they aren't even offered on many stocks that I want to trade on the short side.

If you want to trade from the short side of the market using puts and are very new to the world of options then perhaps this book will be of use. If you want to learn about shorting - save your money.
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Format: Hardcover
I made it to chapter 3 and couldn't believe how boring, poorly worded and incorrect this book is. In chapter 3, he gets the definition of a "put" option completely backwards! I can't trust someone who's basic premise of book is initially given to the reader incorrectly! It's not even a one star book.
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Format: Hardcover Verified Purchase
the title misslead one to believe the book is all about selling short. it only has one short chapter about selling short the rest of the book is about buying and selling opions. Nothing like a little bait and switch to piss one off.
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Format: Hardcover Verified Purchase
Lots of fluff and very little substance. Read book and through it in garbage. Not worth wasting the space in a book shelf.
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Format: Hardcover
I just happened to purchase Sell Short in San Francisco prior to attending the 2009 Money Show in Las Vegas. Generally well written, I finished the book over the weekend before meeting the author. On the plus side, the author emphasizes collecting your own anecdotal evidence before making a trade. This leads to an emphasis on fundamental over technical analysis. Over the past 30 years, I have made significant success using this approach. On the negative side, the stories that the author uses as examples, while good ones, tend to be repeated throughout the book. I would definitely purchase any new books published by this author. My recommendation would be that he be a little sharper in the use of techical analysis as a second step in his process. Additional recommendation: Go to hear this author speak at one of the money shows. Unlike so many salesmen at those things, he knows his business and articulates it well.
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Format: Hardcover
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. I had to put the book down and decided that would read it at another time. I can't recommend this book to any of my close friends.
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