One problem with the focus on speculation is that it tends to promote the growth of the great intellectual cancer of our times: conspiracy theories.

Short-sellers perform a useful function in the market as conduits of negative information, and shorts often complain that they are discriminated against by regulators.

Conspiracy theories feed on opacity, and that's a longtime problem with short selling. Large long positions must be reported to the Securities and Exchange Commission in public filings, but not large short positions.

Gary Weiss Quotes