Were the same analysts telling you to load up on Macquarie 18 months ago? I've been long Macqaurie many times over the years including last year as part of a wider dynamic portfolio. Been short for one brief period before too.
I am a private well diversified investor who whilst long most of the time like everyone else occasionally shorts stocks. You have to find a decent broker and show decent net worth/leverage and experience - I trade options too so shorting to me may sometimes be hedging long call positions or short put positions, but often naked as well.
I am well aware of the dangers of shorting, all part of a diversified play. I am short Tesla and getting killed in that. Judging irrational exuberance is so much more difficult that fundamental value. I've always been long other EV stocks like Xpeng, BYD, etc so the loss offset. MQG, is not shorted without measure against other aspects of my holding. Its a great company I have held before, but simply priced very highly - probably why astutely management are issuing shares rather than loading up on debt. A refreshing long-term strategy. So many companies buy on the highs - look at Boeing and US airlines, share buybacks of $60 billion pre-COVID and then post went to the government cap in hand for.....a $60 billion bail out. Look at our own NAB, selling shares last year on the lows (I bought on that deal) and now buying less than two years later on a buyback (sold that - ching, ching) Quite literally selling the lows and buying the highs. Trading against them a windfall. I commend MQG management.
It hilarious some of the comments above. We are on all time highs in global markets and people laugh at the thought of shorting. The same people probably cowered in the corner when the market was on the lows last year. I shorted the market via futures pre-COVID. It was there plain to see for anyone paying attention. A full two weeks before the market reacted and I am scratching my head in the interim looking at Korea and then Italy blow up. I still lost money on longs in small caps that were decimated, but without the futures I'd have taken a beating.
Its hilarious people mock the very notion of shorting. Only 20 months ago, we had the biggest sharpest fall in the history of the financial markets ever. The US is trading at all time highs, running inflation for half a year at 5%, traeasury yields rising, the US debt ceiling in focus again in December, the Fed likely to announce tapering in November, 65 million empty houses in China and a slowly collapsing insolvent property industry, the ECB with its head in its rear, etc, etc. S&P500 stocks are trading at all time high valuations. These things will not have escaped MQG management unlike the pump artists on here.
Too keep it real simple for @discursive stocks go down as well up@Old Engineer knows I am shorting WTC as well from debates in that stock on valuation. Another lofty valuation stock price. Went too early in WTC as I did MQG, but just like building a long position, very difficult to buy/sell bottoms/tops. My WTC position is now nicely onside. So will my Macquarie position be when the stock begins trading again.
Sorry for the diatribe, but to be mocked by idiots, when I simply congratulated the company approach and honestly declared my position - HC does not give you the option to flag a short position.
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