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By incentivizing Wall Street players to sniff out inefficient or corrupt companies and bet against them, short-selling acts as a sort of policing system; legal short-sellers have been instrumental in helping expose firms like Enron and WorldCom.
A lot of my stories about the old days, they're delicious and funny. But every time I recall the early days, it's painful. With every anecdote, it's painful because you're summoning up the terribly, terribly difficult life of my parents. And it's painful because I didn't realize at the time how hard it was for them.
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