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The Art of Short Selling (A Marketplace Book)
 
 

The Art of Short Selling (A Marketplace Book) (Hardcover)

by Kathryn F. Staley (Author) "When Media Vision finally went belly up, when Scoreboard matched its spectacular ascent with an equally spectacular descent, when Bank of New England took major..." (more)
3.4 out of 5 stars  See all reviews (9 customer reviews)
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Product details

  • Hardcover: 304 pages
  • Publisher: John Wiley & Sons (15 Jan 1997)
  • Language English
  • ISBN-10: 0471146323
  • ISBN-13: 978-0471146322
  • Product Dimensions: 23.1 x 15.5 x 2.8 cm
  • Average Customer Review: 3.4 out of 5 stars  See all reviews (9 customer reviews)
  • Amazon.co.uk Sales Rank: 163,677 in Books (See Bestsellers in Books)
  • See Complete Table of Contents

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Product Description

Product Description

A one–of–a–kind book that shows you how to cash in on the latest investing trend––short selling

"The Art of Short Selling is the best description of this difficult technique."––John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters

"Kathryn Staley has done a masterful job explaining the highly specialized art of short selling. Her approach to telling the true stories of famous investment ′scams′ will keep the reader spellbound, while teaching the investor many crucial lessons."––David W. Tice, Portfolio Manager, Prudent Bear Fund

"Selling short is still a misunderstood discipline, but even the most raging bull needs to know this valuable technique to master the ever–changing markets."––Jim Rogers, author, Investment Biker

On the investment playing field, there is perhaps no game more exciting than short selling. With the right moves, it can yield high returns; one misstep, however, can have disastrous consequences. Despite the risk, a growing number of players are anteing up, sparked in part by success stories such as that of George Soros and the billions he netted by short selling the British pound. In The Art of Short Selling, Kathryn Staley, an expert in the field, examines the essentials of this important investment vehicle, providing a comprehensive game plan with which you can effectively play––and win––the short selling game.

Whether used as a means of hedging bets, decreasing the volatility of total returns, or improving returns, short selling must be handled with care––and with the right know–how. As Staley points out, "Short selling is not for the faint of heart. If a stock moves against the position holder, the effect on a portfolio and net worth can be devastating. Investors need to understand the impact on their accounts as well as the consequences of getting bought in before they indulge in short selling." The Art of Short Selling guides you––clearly and concisely––through the ins and outs of this high–risk, high–stakes game.

The first––and most important––move in selling short is to identify flaws in a business before its share prices drop. To help you tackle this key step, Staley shows you how to evaluate company financial statements and balance sheets, make sense of return ratios, detect inconsistencies in inventory, and analyze the statement of cash flows. Through real–world examples that illustrate the shorting of bubble, high multiple growth, and theme stocks, you′ll proceed step by step through the complete process and learn to carry out all the essentials for a successful short sell, including quantifying the risk factor and orchestrating correct timing, as well as implementing advanced valuation techniques to execute the sell/buy.

Packed with landmark, cutting–edge examples, up–to–the–minute guidelines, and pertinent regulations, The Art of Short Selling is a timely and comprehensive reference that arms you with the necessary tools to make a prepared and confident entrance onto the short selling playing field.


From the Back Cover

A one–of–a–kind book that shows you how to cash in on the latest investing trend—short selling

"The Art of Short Selling is the best description of this difficult technique."—John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters

"Kathryn Staley has done a masterful job explaining the highly specialized art of short selling. Her approach to telling the true stories of famous investment ′scams′ will keep the reader spellbound, while teaching the investor many crucial lessons."—David W. Tice, Portfolio Manager, Prudent Bear Fund

"Selling short is still a misunderstood discipline, but even the most raging bull needs to know this valuable technique to master the ever–changing markets."—Jim Rogers, author, Investment Biker

On the investment playing field, there is perhaps no game more exciting than short selling. With the right moves, it can yield high returns; one misstep, however, can have disastrous consequences. Despite the risk, a growing number of players are anteing up, sparked in part by success stories such as that of George Soros and the billions he netted by short selling the British pound. In The Art of Short Selling, Kathryn Staley, an expert in the field, examines the essentials of this important investment vehicle, providing a comprehensive game plan with which you can effectively play—and win—the short selling game.

Whether used as a means of hedging bets, decreasing the volatility of total returns, or improving returns, short selling must be handled with care—and with the right know–how. As Staley points out, "Short selling is not for the faint of heart. If a stock moves against the position holder, the effect on a portfolio and net worth can be devastating. Investors need to understand the impact on their accounts as well as the consequences of getting bought in before they indulge in short selling." The Art of Short Selling guides you—clearly and concisely—through the ins and outs of this high–risk, high–stakes game.

The first—and most important—move in selling short is to identify flaws in a business before its share prices drop. To help you tackle this key step, Staley shows you how to evaluate company financial statements and balance sheets, make sense of return ratios, detect inconsistencies in inventory, and analyze the statement of cash flows. Through real–world examples that illustrate the shorting of bubble, high multiple growth, and theme stocks, you′ll proceed step by step through the complete process and learn to carry out all the essentials for a successful short sell, including quantifying the risk factor and orchestrating correct timing, as well as implementing advanced valuation techniques to execute the sell/buy.

Packed with landmark, cutting–edge examples, up–to–the–minute guidelines, and pertinent regulations, The Art of Short Selling is a timely and comprehensive reference that arms you with the necessary tools to make a prepared and confident entrance onto the short selling playing field.


Inside This Book (Learn More)
First Sentence
When Media Vision finally went belly up, when Scoreboard matched its spectacular ascent with an equally spectacular descent, when Bank of New England took major bites from its equity capital with real estate write-offs, a small group of people on Wall Street benefited. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

9 Reviews
5 star:
 (3)
4 star:
 (3)
3 star:    (0)
2 star:
 (1)
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 (2)
 
 
 
 
 
Average Customer Review
3.4 out of 5 stars (9 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
5 of 5 people found the following review helpful:
2.0 out of 5 stars Easy read but does not tell you how to short sell., 2 Mar 2000
By A Customer
Quite an entertaining book but completely useless as an ABC of how to sell short for the private investor. For any active investor though, it did give an insight onto how to do your DD on companies and what to look for. In various ways one was reminded that Wall St and other financial centres are built on the promotion of stocks and not the demotion. Hence, they only look for the good news and gloss over or ignore the bad news. Kathryn Staley's concept of short selling though is big time. Spend a lot of time on investigation and research and expect to wait years to collect. She only seems to consider it to be a successful short when the company actually files for bankruptcy. Frankly, having been in business myself; I don't want to be sitting on the sidelines and counting my money as a result of other people's misfortune. She goes on to say on page 225 ‚Novices, fools, and retail brokers sell short for quick trades.' And on the following page she says that timing is against individual short sellers and that they should consider using the discipline as a ‚sell' or ‚not buy' signal. In other words she confirms that her version of short selling is not for the private investor. It does beg the question "Why write the book.?"
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4 of 4 people found the following review helpful:
1.0 out of 5 stars Book says nothing at all, 19 Aug 1999
By A Customer
This book, I believe, was written by the author to cash in on the fact that there are no books on short selling. Read about 15 investment books in the last few months. Some good, some not worth the money -- but this was the book that made me feel like being totally suckered. Gives some examples of companies that went bust, and about crashes. But does not even come close to suggesting any strategies or things to look for when deciding whether to short. Instead just says things like: high valuation alone is not enough to short, don't forget to read the SEC filings etc. Duh! No ideas at all. What a scam.
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2 of 2 people found the following review helpful:
1.0 out of 5 stars Weak from technical perspective, 25 April 1999
By A Customer
The author approaches the subject with a HEAVY emphasis on the psychology of short selling and the psychology of the markets. The book is marketed as "a timely and comprehensive reference that arms you with the necessary tools to make a prepared and confident entrance onto the short selling playing field".

For a book marketed as a "comprehensive reference" and priced as a reference tool, this book contains very few helpful techniques for sophisticated investors.

After initially reading this book, I have not once returned to a single page for reference or advice, unlike high quality finacial reference books like Martin Pring's Technical Analysis Explained or Scott Fullman's Options A Personal Seminar.

If you are interested in a general, non-technical review of short selling this book is fine. If you are looking for a in-depth reference source to be used for years to come, this will be disappointment.

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Most Recent Customer Reviews

4.0 out of 5 stars Good Introduction to Short Selling
I am not a short seller, but I wanted to learn about this practice because it may affect the price of any stock. Read more
Published 7 days ago by Mariusz Skonieczny

4.0 out of 5 stars Excellent source for ALL investors and speculators!!
Whether you want to short a stock or go long, this is a great source of info - the stuff you don't find in the average book on investing, contrarian or otherwise. Read more
Published on 25 Mar 1999

4.0 out of 5 stars An informative review of classic short sale situations
If you're looking for easy answers you won't find them here. However, if you enjoy reading financial statements, you will be entertained with numerous historical examples of... Read more
Published on 9 Jan 1999

5.0 out of 5 stars Excellent and entertaining summary for intermediate investor
Kathryn Staley's book provides an entertaining yet informative introduction to the art of short selling. Read more
Published on 20 Sep 1998

5.0 out of 5 stars Best on Short Selling, Adds little to "Stocks Crash Nicely"
Best book available on selling short using fundamental balance sheet analysis. If you already read her prior work "When Stocks Crash Nicely" 1991, Don't waste your money... Read more
Published on 6 Feb 1997

5.0 out of 5 stars Excellent teaching manual for identifying companies to short
Staley presents a thorough examination of the process of selecting companies for shorting. While Joseph Walker's book, "Selling Short" gives us the nitty-gritty... Read more
Published on 21 Jan 1997

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