Shorting with Growing but Grossly Overvalued Companies Shorting Mimics Characteristics of a Bad Business

Inordinate Issues with Short Positions

We made a few more general mistakes when we started our own firm. One was that we told ourselves that we should be hedging against macro concerns when that wasn’t really our expertise. Short positions were never going to be a big part of our portfolio, but they took up an inordinate amount of time and added an inordinate amount of stress.