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Don't Blame the Shorts: Why Short Sellers Are Always Blamed for Market Crashes and How History Is Repeating Itself free ebook download

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Management

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Author(s):	Robert Sloan

Date:	2009	Format:	PDF	Language:	English	ISBN/ASIN:	0071636862
Pages:	1	OCR:		Quality:		ISBN13:
Uploader:	risotor	Upload Date:	1/6/2021 9:50:36 AM

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On the 80th anniversary of the Crash of 1929, we find ourselves peering backwards through a virtual looking-glass to a time when global markets were in free fall, and venerable financial institutions were in tatters. Yet, here in the present, these same patterns seem to repeat, causing cable newsers, Congressmen, and commoners alike to scream the same refrain, "Blame the short sellers!"

Certainly, short sellers make convenient villains  for one thing, they win only when others lose. But in Don't Blame the Shorts, Bob Sloan taps into a 200-year-old American debate to convincingly and emphatically argue that short selling is not what ails our equities trading markets, but what keeps them honest. To Sloan, short sellers objectives are simple: find overvalued securities and bet against overconfident investors. It's an approach that uncovered widespread fraud at Enron, WorldCom, HealthSouth, and other failed outfits long before regulators ever set foot in the door.

Taking the long view of history, Sloan unearths the deep roots of the conflict over speculative investing and its role in our economy. It's a debate that oftentimes puts titans of American history and finance on opposite sides of the divide: Jefferson and Hamilton, over the fundamental nature of America's economic systems  a century later, J.P. Morgan and William Rockefeller, the brother of John D. Rockefeller, who was thought to be part of a cabal of short sellers that brought the country to its financial knees. Further, Sloan reintroduces us to the likes of Ferdinand Pecora, the federal prosecutor whose investigations in the early 1930s revealed a wide range of abusive practices of banks, and led to the creation of vital legislation, including the Glass-Steagall Act.

Don't Blame the Shorts is an eye-opening account that overturns conventional wisdom about short selling, and the vital systemic (and symbolic) role it plays in making financial markets less opaque, more accountable, and, therefore, stronger.

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2933002	Book	https://florenfile.com/9ru2tyn6s9um...		8.00	risotor

Tags: Always Blame Blamed Crashes History Itself Market Repeating Sellers Short

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Don't Blame the Shorts: Why Short Sellers Are Always Blamed for Market Crashes and How History Is Repeating Itself free ebook download

Category: Management

Description: Click to see full description

Category:
Management