Short Selling: Strategies, Risks, and Rewards
$9.99
| Author(s) | |
|---|---|
| Pages |
430 |
| Format |
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| Published Date |
2004 |
Short Selling: Strategies, Risks, and Rewards provides the most recent theory and empirical evidence on the practice of short selling. The chapters in this book, contributed by leading practitioners and academics, explain not just the complex mechanics of short selling and the associated risks, but also why some stocks can be expected to become overpriced, strategies for exploiting overpricing, and how short selling can improve portfolio performance and market efficiency.
Introduction:
That brings us to this book, which is something special. It is not a coincidence that this book wasn’t published in late 2002/early 2003 when so many hastily scribed, rush-job books on shorting came out at the nadir of a bear market. These works were light on the content, and heavy on the “You too Can Get Rich by Shorting” sentiments, generally including a couple of “if you had only shorted blank at blank price you would have made blank by now.”
This book is different. The quality of the authors, a collection of learned and respected academics and practitioners, speaks to that, as does the coverage, scope, and seriousness of the topics. This is not about getting rich quickly. It is about how shorting works, what short sellers actually do, how shorts uncover the overvalued and the true ponzi schemes, economically why short selling is important, the true impediments to shorting, and a host of other sober, vital, and often neglected topics.
It is not just about the canonical shortonly manager uncovering fraud and overvaluation as implicitly described above, it is also a detailed description of how shorting can be part of an overall optimal portfolio, and can be pursued in all different forms with all different types of managers (a systematic market-neutral manager, a generally long manager who uses shorts to reduce risk and hopefully add alpha, or a truly dedicated short manger).
Contents:
- The Mechanics of Short Selling
- Theory and Evidence on Short Selling
- Short Selling Strategies
- Short Selling and Market Efficiency
Short Selling: Strategies, Risks, and Rewards By Frank J. Fabozzi pdf
4 reviews for Short Selling: Strategies, Risks, and Rewards
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Aniyah Shaw (verified owner) –
This is a great book for those that are trying to understand the theoretical underpinings of short selling. It is probably most appropriate for money managers who are trying to understand the difference between long and short strategies, quants (as a basic book with which to frame short selling separate from long startegies), and generalists. It is not a book for day traders who would do better focusing on charting.
Melanie Boone (verified owner) –
I don’t need the job, but this read contains plenty of information to glean for the TradingView crowd😎💻 like myself.
Banks Sullivan (verified owner) –
I found very little practical advice on short selling strategies. There was considerable theoretical discussion of the risks and rewards of short selling. I would recommend this book only for those who were looking to improve their understanding of financial theory.
Elliot Burgess (verified owner) –
This is an insightful book that makes a great case for the importance and need for short selling. It chornicles the bias toward optimism in the marketplace and this is especially relevant after we have had two bubbles burst in the last 10 years associated with excessive optimism. This is a nice compliment to the work that has been done in regard to capital market efficiency, etc. I recommend this to intermediate to advanced financial-minded people who want a different perspective on pricing and investor motivation.