This is an insightful book that makes a great case for the importance and need for short selling.
It chornicles the bias toward optimism in the marketplace and this is especially relevant after we have had two bubbles burst in the last 10 years associated with excessive optimism.
This is a nice compliment to the work that has been done in regard to capital market efficiency, etc.
I recommend this to intermediate to advanced financial-minded people who want a different perspective on pricing and investor motivation. John W. Taylor, Tiarta, LLC
TABLE OF CONTENTS
Foreword (Clifford S. Asness).
About the Editor.
CHAPTER 1: Introduction (Frank J. Fabozzi, Steven L. Jones, and Glen Larsen).
SECTION ONE: The Mechanics of Short Selling.
CHAPTER 2: Mechanics of the Equity Lending Market (Jeff Cohen, David Haushalter, and Adam V. Reed).
CHAPTER 3: Shorting Using Futures and Options (Frank J. Fabozzi).
CHAPTER 4: Is Selling ETFs Short a Financial “Extreme Sport”? (Gary L. Gastineau).
SECTION TWO: Theory and Evidence on Short Selling.
CHAPTER 5: Restrictions on Short Selling and Exploitable Opportunities for Investors (Edward M. Miller).
CHAPTER 6: Implications of Short Selling and Divergence of Opinion for Investment Strategy (Edward M. Miller).
CHAPTER 7: Short Sale Constraints and Overpricing (Owen A. Lamont).
CHAPTER 8: How Short Selling Expands the Investment Opportunity Set and Improves Upon Potential Portfolio Efficiency (Steven L. Jones and Glen Larsen).
CHAPTER 9: The Information Content of Short Sales (Steven L. Jones and Glen Larsen).
SECTION THREE: Short Selling Strategies.
CHAPTER 10: Spotting Clues in Qs (Ron Gutfleish and Lee Atzil).
CHAPTER 11: The Economic Profit Approach to Short Selling (James A. Abate and James L. Grant).
CHAPTER 12: Long-Short Equity Portfolios (Bruce I. Jacobs and Kenneth N. Levy).
SECTION FOUR: Short Selling and Market Efficiency.
CHAPTER 13: Short Sales in Global Perspective (Arturo Bris, William N. Goetzmann, and Ning Zhu).
CHAPTER 14: Short Selling and Financial Puzzles (Edward M. Miller).