A pro should NEVER let a bad trade get out of hand like this moron did. Whitney Tilson got the ultimtate "TRANNY SURPRSIE". how on earth could a so called "pro" get his ass punded like that? does he not look at charts? he just reads the financials and decides its a good short because he does'nt believe the story and he then decides its over valued? thats why he shorts! well,i think he covered last week and i will be sure to tell him i want extra ketchup on my quarter pounder . hopefully he does'nt manage the register at McDonalds the way he managed his fund.
This wasn't the only voice crying short though. I never saw the short opportunity, but I guess others did as well.
Carl Futia, the Author of "The Art of Contrarian Trading" says that going against the trend too early is the number one and most common mistake amongst newbie contrarian traders. http://www.amazon.com/Art-Contrarian-Trading-Behavior-Financial/dp/0470325070 These things are common when you go from being a fundamental top down bottom up investor to becoming a "tactical trader". Its a common mistake. Remember, people on TV don't trade. Their mouths just froth.