Short-selling, or betting on a drop in the price of a stock, has been descried by its many opponents as everything from shady to downright evil. Though he has been branded in the press as a market saboteur, Asensio staunchly defends his practices, claiming that, above all, he is a crusader out to expose rampant fraud being perpetrated by unscrupulous stock promoters. Charts.
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Short-selling, or betting on a drop in the price of a stock, has been descried by its many opponents as everything from shady to downright evil. Though he has been branded in the press as a market saboteur, Asensio staunchly defends his practices, claiming that, above all, he is a crusader out to expose rampant fraud being perpetrated by unscrupulous stock promoters. Charts.
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Seller's Description:
Good. Gently used with minimal wear on the corners and cover. A few pages may contain light highlighting or writing but the text remains fully legible. Dust jacket may be missing and supplemental materials like CDs or codes may not be included. Could have library markings. Ships promptly!
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Seller's Description:
Very good. Sold Short is the story of Manuel Asensio, a successful but controversial securities broker whose claim to fame is aggressive short selling--a widely disparaged (and sometimes wildly profitable) investment technique that realizes success only if stocks decline in value. Since the larger financial community is overwhelmingly comprised of long sellers who profit when prices rise, the shorts' contrarian position is always at odds and usually portrayed as an unscrupulous, backdoor attack on all things good and holy. Asensio sees it quite differently, of course, and with the help of Jack Barth, he reveals how a young boy who barely escaped Cuba before the revolution could come to be viewed as the devil incarnate by corporate honchos and Wall Street analysts whose professional paths he has crossed. After explaining how his firm uncovered some of their "grossly overvalued" companies, and what happened when he bet against them in the market, Asensio details the process so interested readers can theoretically profit from similar moves. Some of the material here is much too technical to interest casual investors, and Asensio's philosophy will still be scorned by those who don't abide it. Fellow shorts and those interested in all the machinations of the market, though, should find it an absorbing and informative read. --Howard Rothman Pressestimmen He's in the Index, Too Look for Wall Street and business-media types to scan index pages in the just-published Sold Short: Uncovering Deception in the Markets by famous short-seller Manuel P. Asensio. He delights in naming dozens of analysts, journalists and brokerages he says helped pump up dubious stocks that later tanked after he issued withering research reports. On the next-to-last page Asensio finally mentions the $75, 000 fine he paid regulators last year to settle charges that, among other things, he and his Asensio & Co. overstated their own investment record. --Forbes May 28, 2001 Short-sellers have a natural appeal to journalists. Members of both occupations require deep scepticism about the motives of the rich and powerful, and both engender a black humour that can be off-putting to the innocent and uninitiated. Short-selling is the sale of borrowed or never-owned securities with the intention of profiting from a decline in their price. The profit is made when the shares price has declined, and the short-seller is able to repay the loan of the securities or makes good the promise to deliver with securities bought at a lower price. The profit is limited to the price of the security at the time the short sale is made; the loss can be as high as a security's price can rise. There are quiet, behind-the-scenes short-sellers-and then there is Manuel Asensio. His brokerage house, Asensio Company, specialises in executing short sales for clients, some of which are almost certainly investment funds in which he has an interest. He searches for frauds and simple overvaluations in the securities market, sells them short on behalf of his clients, and then trumpets their shortcomings to the world. Along with other journalists, I have made use of Asensio's material, though not without checking it first. When I did, it turned out to be quite reliable. Not everyone has the same feeling about Asensio. He is regularly sued by promoters and others connected with the objects of his research and mockery. He has, however, only paid one fine to the National Association of Securities Dealers, and believes he has been vindicated after he agreed to that settlement. Now he has written a book, Sold Short, to tell the world how he does it. To use the type of military metaphor popular on Wall Street, Asensio is the sort you would choose to lead an infantry charge against a fortified position. However, as another short-seller says: "I think I'd prefer to wait for the armoured division." Even though the book has a professional co-author, Jack Barth, the tone is pure Asensio: attack,...
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Fine. Sewn binding. Cloth over boards. 288 p. Contains: Unspecified. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
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