The Shorts Are Standing Tall Again

Short-sellers are the pariahs of the investment world. Unpopular at times of market setbacks, when they tend to be the only ones making money, they suffer when the markets climb. In the bull market of the past three years, shorts have been miserable performers. But 1994 is shaping up as the best year for short-selling since 1990--and short-sellers are thumbing their noses at their enemies.

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