Hello, Stefanis, long time no speak.No I don't short stocks....

Hello, Stefanis, long time no speak.

No I don't short stocks. I've never really thought much about why not.

I suspect it's because I sense short positions require constant monitoring and observation.

And I'm too lazy for that sort of requisite focus.

I find I go through frequent patches - sometimes lasting for days, sometimes weeks and sometimes even months - of boredom with stocks when I don't even look at share prices or do any research.

And I value that sort of mental freedom and latitude.

I think people underestimate how draining it is is to be constantly staring at watch lists or "tick-watching", which I know is what the overwhelming majority of "investors" routinely do.

I certainly would feel VERY uncomfortable shorting companies that are able to increase in intrinsic value because that amounts to nothing but timing, and I'm a strident cynic of timing as an investment philosophy.

Perstentone: is BKL a good short candidate? I don't know. It's facing challenges, that's for sure, but whether that is enough to make the share price go down, I don't know. Besides, it isn't a loathsome business, it's just got some competitive pressures facing it. I'd far sooner short some patently more inferior quality companies with far less durable business models, such as mining companies, or mining service companies, for example (but for even thinking such heinous thoughts risks me being shunned as a heretic on HotCopper)