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Pity market dead for 'short sellers'

September 28, 2008

Regarding the column, " 'Shorts' go from heroes to goats" (Market Beat, Sept. 20):

Could anything be more annoying than the 20-something, filthy-rich investment bankers whining that the short-selling prohibitions will reduce their ability to game the system and, heaven forbid, force them to take risks like every other investor and entrepreneur?

Apparently, hedge funds are now targeting each other. If so, they may learn a lesson from Morgan Stanley and Goldman Sachs, which have made obscene profits by shorting stocks in the past, but are vociferously against the practice now that their stocks are the ones getting destroyed by the shorts.

Note to reporters and regulators: Don't fall for the self-serving criticism disguised as objective information. That's how hedge fund managers operate; it is what they do best.

Note to hedge fund mangers: If you believe a stock will go up, buy it. If you don't, don't. That's called risk. Live with it like the rest of us.

Bruce Goodman

Beverly Hills

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