Including key case studies and exclusive interviews, this volume shows investors how to avoid traps and profit from well-researched short ideas. Investors may not always act on short ideas, but they can still avoid losses by using Kumar's framework to identify stocks that are overvalued. Everyone from professionals to amateur investors can adopt his fundamental research approach, which transforms short selling into a long-term strategy.
Preface Acknowledgments Part I: Framework to Finding Short Ideas 1. Due Diligence in Short Selling 2. Leveraged Businesses: The Upside and Downside 3. Structural Issues in Industries 4. Recipes for Cooked Books: Accounting Misstatements and Shenanigans 5. The World Is Going to End Part II: How Successful Investors and Analysts Think 6. Value Investing 7. Activist Investing 8. Papa Bear: Coattailing Marquee Investors or Betting Against Them? 9. Off Wall Street: Two Decades of Successful Shorting Part III: Risks and Mechanics of Short Selling 10. When to Hold, When to Fold 11. The Mechanics of Short Selling Glossary Notes Index
Amit Kumar is a senior analyst at Columbia Threadneedle Investments. He has spent nine years in equity investments and, before that, another nine years in senior roles in the technology industry. He is also an adjunct professor of finance at Rutgers Business School.
Short Selling keeps the reader's attention through real examples, cases, and interviews with investment professionals. This book is sound and accurate, ideal not only for academics and professionals but also for anyone who has an interest in the various strategies, risk, actual case studies, and mechanics of selling short. I know of no other text like it. -- Glen A. Larsen Jr., professor of finance, Kelley School of Business Those with investment skill and knowledge who are prepared to enter this inherently risky area will find Kumar's theories valuable. Publishers Weekly [An] interesting and informative book, suitable for students, investors, and practitioners... What makes the reading more meaningful and interesting are the accompanying examples and case studies of well-known firms... Highly recommended. Choice