Going Short on a Stock is Much Riskier Than Going Long Should Dividends Matter When Pricing a Firm?

Short-Term Transactions on Wall Street are not a Game

Wall Street likes to characterize the proliferation of frenzied financial games as a sophisticated, prosocial activity, facilitating the fine-tuning of a complex economy. But the truth is otherwise: Short-term transactions frequently act as an invisible foot, kicking society in the shins.

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