Don’t Short on Valuation Inordinate Issues with Short Positions

Shorting with Growing but Grossly Overvalued Companies

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One challenge we’ve had in shorting is with growing but grossly overvalued companies, in which the market can delude itself for a long time. We gave up on our short of solar energy company First Solar [FSLR], for example, after analysts started doing things like setting a price target and then backing into the multiple at which they thought it should trade today.
Source: http://www.valueinvestorinsight.com/