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Troy Peterson
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Latest | Highest ratedDowney Financial's Problems Run Deep [View article]
In fact, it seems that institutions have aggressively shorted 10Mln+ shares of the stock, which is more than half of the float outstanding. This level of shorting is potentially as irresponsible as Downey's loose lending practices! I think the author recognizes this risk, given that he is long puts instead of short-the-stock, but think individuals might be well-advised to follow the same path (if they are betting against DSL).
Great post though.
Downey Financial's Problems Run Deep [View article]
In fact, it seems that institutions have aggressively shorted 10Mln+ shares of the stock, which is more than half of the float outstanding. This level of shorting is potentially as irresponsible as Downey's loose lending practices! I think the author recognizes this risk, given that he is long puts instead of short-the-stock, but think individuals might be well-advised to follow the same path (if they are betting against DSL).
Great post though.