Kingsway Financial Services Inc. (KFS)

All Comments on KFS

  • commenter
    Observer1
    Sep 23 02:02 PM
    The Global War Against Shorts: Canada Bans Short-Selling [view article]
    John's concern is valid - shorts play a important market role and confidence that the rules will not be dramatically altered without notice is critical to the proper operation of the markets in the long term. Redwood_12's point needs also to be considered, though, as naked shorts are a form of market abuse. They are tantamount to an investor "issuing" additional shares of a company, which is inappropriate. A pity the SEC hasn't moved on these more aggressively in the past, given their potential for abuse.

    That being said, the OSC did not have much choice. If you read the order, the only stocks which are covered are those that are inter-listed between the US and Canada. If short selling of an inter-listed stock was banned in the US, then it also had to be banned in Canada. The OSC's aim, quite appropriately, is to prevent what they are calling "regulatory arbitrage" - a concern that seems real given the current circumstances.

    Don't we live in interesting times?     Reply
  • commenter
    Redwood_12
    Sep 22 12:16 PM
    The Global War Against Shorts: Canada Bans Short-Selling [view article]
    The answer to your question, which is based on a false premise, seems obvious to me.

    The problem never was short selling or those who engage in it. The problem is NAKED short selling and those who not only engage in it but use it aggressively to manipulate markets, further compounded by the fact that even though it has been illegal all along, it has been allowed to happen completely unfettered for so long that the agencies who should be enforcing rules prohibiting it are now powerless to reign it in.

    Consequently, the only way to get a handle on it quickly, which was absolutely necessary in order to defuse a situation that would have inevitably led to market meltdown, was to temporarily halt all short selling altogether.

    It's far from a perfect solution, but one that has had the desired affect, at least temporarily. It is now encumbent upon the SEC to get ahead of the problem of NAKED short selling, get all the outstanding Failures To Deliver satisfied, and then move forward with a market where orderly short selling is reintroduced in such a fashion that powerful hedge funds can no longer get away with selling what they don't possess nor have any intention of possessing.

    The free marketeers who bitch about this action now should have been speaking up over the last several years while the NAKED short problem spun out of control. Since they didn't, they can all STFU now as far as I'm concerned.     Reply
  • commenter
    Ori
    Sep 22 12:00 PM
    The Global War Against Shorts: Canada Bans Short-Selling [view article]
    Can anyone please try to quantify short selling in terms of % of the float of every financial stock ? There is a post on the Big Picture blog that tries just that. How much is naked short selling for example and how many times can you short a stock in one day using the same strategy ? Reply
  • commenter
    Peter K
    May 14 04:59 AM
    Kingsway Financial Downgraded Following Disappointing 4Q Results [view article]
    as a resident of York pa, with several friends and aquaintances at Lincoln, I can understand their problem(s), based on the stories I have heard about top and middle mgmt. It is a wonder, that if these things I have heardare true, that Lincoln still exists. Reply
  • commenter
    SeekingAlpha
    Editors
    Apr 06 05:18 AM
    My Website
    General Discussion on KFS
    Is this a buy or a sell? Reply
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