Part thriller -- part short-selling play-book -- this controversial new book is a revealing expose’ by one of today’s most successful and controversial speculators. Short-selling -- or betting on a drop in the a stock price - has become lucrative business, and Asensio is a short-seller extraordinaire who’s been both praised and criticized. But his methods work -- and now he lays them bare for all to learn. He arms investors with proven techniques for reducing the inherent risks of short-selling while maximizing returns, and gives a move-by-move account of how to sell short in today’s markets. Don’t venture into selling short without this sobering book by your side.
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Most companies play by the rules, releasing accurate information and making a genuine effort to generate profits for their shareholders. But occasionally a company and a group of stock promoters will deliberately withhold crucial information, disseminate false information, or simply be an outright sham. When this deception is publicly disclosed, all sorts of accusations and denials will fly, but experience has shown that sooner rather than later the companys stock is likely to decline sharply. And anyone selling short the stock of such a company will profit when it crashes. Manuel Asensio is probably the worlds most visible practitioner of this brand of aggressive short selling. And this is his story.
For over five years, in the midst of the greatest bull run the stock markets have ever seen, Mr. Asensio has been taking on public corporations large and small with the twin goals of exposing deception and making money. And for over five years Asensio has been harassed by his targets and private regulators with conflicts of interest, dragged through the courts in attempts to silence him, and disparaged in the press. Yet in those five-plus years not one of his many statements and reports has ever been proved even partially false much less inaccurate or incomplete. And in that time, his meticulous research and bold declarations have indeed enriched any investor savvy and prudent enough to pay attention and act accordingly.
Mr. Asensio has published "short sell" recommendations on over two dozen companies, and in this book he relates the highlights, including: *Exposing the fast-rising young English banker who caused Morgan Grenfell to lose half a billion dollars yet avoided prosecution by appearing in court in a dress *Determining that one of the very first red-hot $120 Internet stocks was promoting a dated and virtually unsellable technology *Uncovering the accounting trickery and press-release sleight of hand that was bogging down the largest public-works project in the history of New Jersey and causing Turnpike commuters to blow their stacks *Digging into the purchases of a highly regarded Dreyfus mutual-fund manager and finding a mother lode of junk stocks in which the manager held a compromising interest. The manager was fined $50,000 and sanctioned by the SEC
In this lively and often funny book, Manuel Asensio not only recounts his "greatest hits," but also shows you how to identify these shaky stocks yourself. These stories reveal that anyone Arthur Andersen, senior exchange officials, and state public officialscan get caught up in a complex web of deception. Who knows? Your portfolio might have one or two of these stocks in it right now. Better find out before someone else does...
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Table of Contents:
Diana Day Afternoon.
Making of the Short Seller.
The First Short: General Nutrition Takes Ill.
Diana: "The Switch Works!"
Solv-Ex: Something Oily.
By-the-Numbers Stock Promotions.
Abusing the Process.
How to Sell Short.
Get Ready for a Big One.
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