16 Jul I’m a fan of the suggested reading lists that some of the value hedge funds have circulated among their junior staff, and I noticed the presence. Welcome to book number 9 in my top 10 investment books of all time, “The Art of Short Selling”. This book has been written by Kathryn Staley. Kathryn is an. The art of selling to the affluent: how to attract, service, and retain wealthy customers Short Selling: Strategies, Risks, and Rewards. Pages··

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Hardcoverpages. The book immediately starts off by stating that fundamental short sellers look for quality of earnings, quality of assets and quality of management.

For all investors, timing is huge. Snapple traded on 64x earnings in 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.

The last chapter is especially helpful as the author lay out the research framework for a shortselling opportunity.

The Art of Short Selling by Kathryn F. Staley

If you were hoping for a book that blindly cheerleads the work of short sellers, you came to the wrong place. The chapters are loosely organized by type of short sell candidate. Feb 01, Evan rated it really liked it. It is important to understand the cash the art of short selling kathryn staley statement, as this will provide shaley more accurate snapshot of the business sellling is subject to less manipulation by management.


Jun 25, Steve Hall added it.

There are a lot of lessons to be drawn, which she then summarizes in a more theoretical final 13th chapter. He avoids short candidates in a crowded field unless the company is terminal. Email required Address never made public. Secondly, the bull case is aided by the bias of investment banks and brokers to write favourable research reports about companies.

Price to cash flow is a buy-out indicator. Identification of Opportunities Kathryn uses three broad categories to identify investment opportunities: The main reason why money is lost in stock sellin is sgaley because Wall Street is the art of short selling kathryn staley, but because so many people persist in thinking that you can make money without working for it and that the stock exchange is the place where this miracle can be performed.

I’d like to develop the habit for myself of reading financials with the skepticism of short sellers. If you have a desire to learn how to detect errors in the financial statements and find ahort in supporting documents, this is for you. In security shkrt, managers are rarely trained by using examples of poorly run companies.

She has taught financial statement analysis for the Association for Investment Management Research AIMR and lectures on the absence of economic reality in publicly reported earnings announcements. Does the company give favorable terms to the officers or give favorable contracts to businesses owned by officers?

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Timely collections are sensible in a growing business because growth eats money by definition. Wall Street straightline projected VCR growth with their collective spreadsheets. The Art of Short Selling. Are they paid a percentage of revenues?


High Returns, Faltering Growth. If so, is the company deferring or not spending to the detriment of later business?


The major short-comings are:. In other words, HAPY could not stop spending when the fad slowed.

Book Review: ‘The Art of Short Selling,’ by Kathryn F. Staley

He reassesses short positions continually and, before he shorts, tries to determine the catalyst that will cause a stock to fall. Ataley it is a franchisor, it might be system sales or same-store sales. The Art of Short Selling January 6, Pleasantly surprised with this book as I had low expectations to begin the art of short selling kathryn staley. Because short sellers, by their nature, cannot blame mistakes on analysis or friends or even the art of short selling kathryn staley, analytical sloth jathryn cause for the short equivalent of a hair shirt and mental flagellation.

It is one signal that is truly indicative of trouble … The hardest part is determining what the relevant piece of information is — what runs or ruins a business.

As a fundamental investor, it is important to avoid high levels of debt. Can prices be kathrjn enough to support the capital investment in glitzy store interiors?

Short sellers provide a hand brake to selking optimism, thereby increasing market efficiency. Up-to-the minute trading examples, guidelines, and pertinent regulations clearly illustrate the most current applications and techniques of short selling.

Pg 13 Robertson feels valuation bets on price alone make bad short sales: