Naked Short Selling

Discussion in 'Financial Cents' started by melbo, Feb 8, 2006.


  1. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Naked Short Selling

    The following will take a couple hours to watch... Well worth the time. I have made CDs and sent them out to friends.

    http://www.businessjive.com/nss/darkside.html
    http://www.businessjive.com/nss2/darkside2.html
    http://www.businessjive.com/nss3/darkside3.html
    http://www.businessjive.com/nss4/darkside4.html

    from wikipedia:
    This is the presentation that Byrne created:
    There's an important new development in the naked short selling saga to report.

    Some five months ago, citizen Alan Newman filed a request for information with the Securities and Exchange Commission. He asked how many failures to deliver Overstock.com stock were recorded by the SEC on August 1, 2005.

    That request was initially denied by the SEC, but Alan appealed and, on the strength of the Freedom of Information Act, his request was granted and ultimately received on February 4th, 2006.

    Here's what the SEC's response revealed:

    On August 1, 2005, Overstock.com had a total volume of about 614,000 shares, of which over 550,000 failed to deliver. That's just under 90%, and about twice the number that I think even the most cynical expected.

    In other words, this situation has moved from theoretical crisis to bona fide crisis.

    You can learn more about the naked shorting problem by watching the presentations and listening to the podcast interviews that you'll find below.

    Warning:doing so will probably ruin your day.


    The following will take a couple hours to watch... Well worth the time. I have made CDs and sent them out to friends.

    http://www.businessjive.com/nss/darkside.html
    http://www.businessjive.com/nss2/darkside2.html
    http://www.businessjive.com/nss3/darkside3.html
    http://www.businessjive.com/nss4/darkside4.html
     
  2. Bear

    Bear Monkey+++ Site Supporter+++ Founding Member Iron Monkey

    This is a must read for anyone interested in the real value of their money and the "precarious perch" that the stock market and economy is on....

    It really makes you stop and think.... and consider.....


    But..... if you're too busy..... then.... "Party On !".... [beer] b::
     
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