short selling

“Most of the stuff that screens as screaming shorts and in a paper portfolio works incredibly well. You have incredible problems with borrow availability, with borrowing cost, which often instantly removes the paper alpha and with volatility.”

“You have a movement of quantitative investing, and that's really making it difficult for fundamentally driven investors to short stocks and be successful.”

“Like on the long side, we're playing for multiples of our capital. On the short side, we're playing for between 15 and 30%.”

“The left side, we're focused on the second quartile consistently because the first quartile is extremely dangerous and very hard to replicate.”

“What I have found over the years is that long alpha generation tends to be a little more smooth and steady, not always, but a little more smooth and steady and short alpha generation tends to be a little more episodic. So there are periods when it just rains s…”

“Really good short ideas are hard to come by and the market's pretty smart. The longer you give the market, the more likely it is to be efficient.”

“Shorting is not just a mirror image of the long side. There are other things that need to be considered. And I think one important area is the kind of sentiment market feel, which I think you need more on the short side than perhaps you maybe do on the long si…”

“I'd say that the tailwinds to short selling right now are that there's been a quite a lot of speculation and quite a lot of, I think, willingness of investors to embrace Fanciful business plans with hockey stick projections that are currently unproven and in b…”

“I think the best shorts are ones where there's either a fundamental flaw in the business model or is ultimately going to go bankrupt.”

“And often now with high borrow costs and all hedge funds shorting the same names, you end up paying a lot more than you would have previously. So you're running a negative carry game where time's against you.”

“Very, very few people were good at it, and it took up most of your time. To get shorts. Plus you were in some ways leveraging your longs in order to justify your shorting. So it just seemed to us to make no sense to do that.”