shorts still strong, page-2

Very busy in the central Geelong store today, and the staff told me Christmas was madness.

That's not an investment thesis, but when the purse strings loosen I think JB will smash their competition, as they can still do business much cheaper than everyone else with a shop front. Whether that's this christmas or next - or the one after that - I'm not sure, but it will happen, and they'll seem cheap at this price.

The shorting case is built upon the theory that online retail will break this business model. That's no certainty at this stage. It might break Gerry Harvey but JBH are a different prospect, so some of these short positions won't work out, in my humble opinion.

Plus, the first half is always 75% of the year's total for JB, and the dividend is similarly weighted. There's a nice dividend to be had come March.