Friday, July 18, 2008

Babe – I can’t find a vein

Paul Kelly – an Australian poet troubadour howls about addiction: babe – I can’t find a vein.

I know how he feels.

One reader is working with me on some very small regional banks for shorting. I will not write about them – because they are just too small.

However we have found one where we think the subordinated debt is a fabulous short.

So here is my howl:

Babe - I can’t find a borrow.

The security in question is not on the SEC’s new list of things you can’t naked short – but still the discount broker is not giving me a borrow. They are usually pretty good – but sometimes they can’t maintain the borrow and they call me in.

Does anybody know a broker who will give me a naked short?

I thought not.

I will continue in the way of Paul Kelly

Little cloud little cloud way up in the air
Little cloud little cloud way up in the air
Well I ain't receiving, little cloud's moved on somewhere

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The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author.  In particular this blog is not directed for investment purposes at US Persons.