Binding: Hardcover
Dewey Decimal Number: 332.63228
EAN: 9780471146322
ISBN: 0471146323
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 304
Publication Date: December 09, 1996
Publisher: Wiley
Sales Rank: 183662
Studio: Wiley

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Editorial Review:

Product Description:
A one-of-a-kind book that shows you how to cash in on the latest investing trend--short selling

"The Art of Short Selling is the best description of this difficult technique."--John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters

"Kathryn Staley has done a masterful job explaining the highly specialized art of short selling. Her approach to telling the true stories of famous investment 'scams' will keep the reader spellbound, while teaching the investor many crucial lessons."--David W. Tice, Portfolio Manager, Prudent Bear Fund

"Selling short is still a misunderstood discipline, but even the most raging bull needs to know this valuable technique to master the ever-changing markets."--Jim Rogers, author, Investment Biker

On the investment playing field, there is perhaps no game more exciting than short selling. With the right moves, it can yield high returns; one misstep, however, can have disastrous consequences. Despite the risk, a growing number of players are anteing up, sparked in part by success stories such as that of George Soros and the billions he netted by short selling the British pound. In The Art of Short Selling, Kathryn Staley, an expert in the field, examines the essentials of this important investment vehicle, providing a comprehensive game plan with which you can effectively play--and win--the short selling game.

Whether used as a means of hedging bets, decreasing the volatility of total returns, or improving returns, short selling must be handled with care--and with the right know-how. As Staley points out, "Short selling is not for the faint of heart. If a stock moves against the position holder, the effect on a portfolio and net worth can be devastating. Investors need to understand the impact on their accounts as well as the consequences of getting bought in before they indulge in short selling." The Art of Short Selling guides you--clearly and concisely--through the ins and outs of this high-risk, high-stakes game.

The first--and most important--move in selling short is to identify flaws in a business before its share prices drop. To help you tackle this key step, Staley shows you how to evaluate company financial statements and balance sheets, make sense of return ratios, detect inconsistencies in inventory, and analyze the statement of cash flows. Through real-world examples that illustrate the shorting of bubble, high multiple growth, and theme stocks, you'll proceed step by step through the complete process and learn to carry out all the essentials for a successful short sell, including quantifying the risk factor and orchestrating correct timing, as well as implementing advanced valuation techniques to execute the sell/buy.

Packed with landmark, cutting-edge examples, up-to-the-minute guidelines, and pertinent regulations, The Art of Short Selling is a timely and comprehensive reference that arms you with the necessary tools to make a prepared and confident entrance onto the short selling playing field.

Amazon.com Review:
To "sell short" on Wall Street, an investor finds overpriced stocks and then deals them before actually buying them. Regularly falling in and out of favor, the discipline remains one of the financial market's highest-risks but most profitable practices. The Art of Short Selling by Kathryn Staley, an expert in the field, uses examples and instructions to show how it can be done successfully--while cautioning that it "is not for the faint of heart."




Rating: - An excellent book on dedicated, fundamental short selling.
The best book on short selling using fundamentals. Dedicated, fundamental shorts in my mind are some of the best security analysts around, known for their rigorous analysis, strong accounting knowledge, and in depth due diligence.

This book provides excellent insight into this technique and provides basic guidelines for selling short as well as many examples of short selling candidates and themes. I believe by reading this book and learning how dedicated short sellers go about analyzing ... Read More

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Rating: - Dated and uninformative
This book will not be useful to most readers. Staley touts shorting-hedge-fund managers and similar folk who can hire investigators and who can delegate maniacally-intensive accounting & financials research. This book also suffers from being highly specific in detailing financial irregularities of companies forgotten in light of the stupendous failures of Worldcom, Enron etc. Finally, if you actually want to short securities, don't expect this book to help you.

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Rating: - Go Long This Book
Chapter Six of Kathryn F. Staley's excellent book is titled, "If You Can't Read It, Short It." In it she explains something called iceberg phenomena: "If you find five or six serious questions in financial statements, you can be sure that there are many more you cannot see." She's dead right.

My analysis is to go long this well-written (but very poorly proofread) introduction to the specialized realm of shorting equities. Ms Staley has chosen a style well-suited to the non-expert, ... Read More

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Rating: - Focus on fundamentals
Anecdotes and successful short stories rule this book. If you are a technical trader you will be disappointed since 'The Art of Short Selling' choses which stocks to short based on (primarily) the financials.

I was rather disappointed because it took until alomst the last chapter before the 'meat' of how to pick stocks for shorting was discussed. Even then it only briefly discusses which aspects of the financial statements one should look out for.

If you do not understand how ... Read More

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Rating: - A Skeptics guide to Fundamental Analysis
I came across this book years ago in a bookstore, browsed through it, and put it away. Being caught up in the study of technical analysis at the time, I clearly wasn't ready at the time to find value (pun intended) in Staley's fundamental approach to the market. This time, however, I'm listening to her.

With a bit more experience, I can appreciate 3 of the many lessons _The Art of Short Selling_ teaches:

1) Fundamentals drive market action...eventually
2) It is often a costly ... Read More

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