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following is not a legal transcript, it has nothing to do with real highly respected SEC, mistakes intentionally have been made, Trading to Win cannot guarantee accuracy - just like "not that SEC" ]
"SEC Letter to short sellers." ( fictional of course )
Dear fellows short sellers citizens of Clownmerica.
We totally understand why you in such a huge numbers are so sad, bitter, frustrated.
You spending a lot of time and mental efforts by being pro-active in digging out the truth from corporate balance sheets and P&L statements;
you use your brains to figure out that corporate earnings grow mostly due to one non-profitable company acquiring another even less profitable company;
you truly believe that borrowing money to deadbeats borrowers by brain dead exotically creative financial companies lead to destruction of credit and financial stability;
you understand that due to demographic change since inception of the way how unemployment is calculated the real number is at least twice of that official;
you don't care for government CPI numbers, because you lived long enough to remember postal stamp being at 17c back in 1990 and it is, what - 46c in 2008? And you suspect that it does not add up with "3% average" inflation;
you know that "buy and hold" and great historical examples of major indexes returns is just another "sell to the idiots" campaign, because inflation adjusted returns are negative, not even speaking of artificially enhancing return of indexes by removing openly pathetic companies and inserting not yet openly pathetic ones;
you don't watch CNBC except for the moments when you want to tell your kids" "This is baaaad - you should not watch it..ever...";
you know that when everyone is getting rich in oil/sugar/google/internet/tulips - there is none left to buy and everyone is getting broke;
We, SEC understand all the risks you take:you going short knowing that company might be bought overnight and you will lose 40% of your money in the blink of an eye;
you are responsible for paying dividends for the company net worth of which totals to that dividend amount;
you were oppressed by "up tick rule" because you are smart and know true from lie as oppose to patriotically vicious bulls and you don't need unfair advantage bulls have had forever;
you have been blamed for destroying companies by idiots and criminals who destroyed those companies and fired you, whistle blowers, before final collapse;
We, The SEC in light of total understanding of all of the above, but being totally oriented to please the richest ( not necessary the smartest, but having a good stories "how they personally made their fortunes") and, due to political reasons - the poorest ( not always dumbest just totally financially illiterate)
We, the SEC would like to "improve" "you have to SECURE borrowing before selling short" rule which has been in place for ages and we never enforced it in real life
to "you have to BORROW before selling short";
That, dear fellows short sellers, will change nothing at all, except it will make life of financial companies you are shorting much better since they will be collecting margin interest not on "T+3", but on "T+0" basis and will laugh all the way to the bank - at you, unfortunate people with brains.
Is not that what we,
all who is in power, big and small, politicians, CEOs, all kind of big and small bosses, everyone who has any little bit of power OVER YOU and smart enough to wave the flag into your tired face, is not that what we DO?
Laughing all the way to the bank?DavidDT
[
preceding is not a legal transcript, it has nothing to do with real highly respected SEC, mistakes intentionally have been made, Trading to Win cannot guarantee accuracy - just like "not that SEC" ]
