@jay_21_ (1) Shorts must always be very small. Max 1.5-2.0% for large cap structural decliners. 20-40bps for frauds and promotes.
@jay_21_ (2) No hero shorts.
@jay_21_ (3) Wait for things to crack before putting a position on in any type of size (which for a short, is still very small). $700 to $0 and $200 to $0 are both 100% returns.
@jay_21_ (4) Must be willing to cover aggressively if going against you. After cracking, need to be willing to add on the way down (particularly for promotes or frauds).
@jay_21_ (5) Don’t short great companies and don’t short hyper growth companies. Maybe there can be some exceptions if your long book is heavily exposed to these factors (quality / growth).
@jay_21_ (6) Having to keep a fixed % of the portfolio short (potentially in order to justify fees in L/S fund) is dangerous. Leads to getting into crowded shorts or having to short indexes. Shorting seems to be best when done opportunistically.
@jay_21_ (7) Avoid high short interest names / keep them very very small / buy way OTM calls as a hedge.
@jay_21_ (8) Be very careful with equity stubs. Treat them as you would high short interest / hyper growth companies.
@jay_21_ (9) If you find yourself thinking about a short first thing in the morning / watching the ticks during the day - you are likely too big.
@jay_21_ (10) MOST IMPORTANT. At the end of the day, the only point of selling short is to enable you to safely get a little more long. Key word is safely. Short book is float. You should think of it as insurance underwriting. Portfolio management and avoiding large losses is priority #1.

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At the end of 2019, my biggest platform was LinkedIn with ~700K followers.

In Jan 2020, I decided to build a team that would help me with the content.

I ran a month long recruitment drive to hire a team of interns.

It comprised 4 detailed rounds - starting with my loved 20 questions, then an assignment, then a WhatsApp video round and finally F2F.

Through 1,200+ applications, I finally selected 6 profiles, starting March.

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So the team was structured such that everyone was responsible for ONLY one task

1. Content ideas
2. Videography
3. Video editing
4. LinkedIn (+TikTok) distribution
5. FB+IG distribution
6. YouTube distribution
Wow, Morgan McSweeney again, Rachel Riley, SFFN, Center for Countering Digital Hate, Imran Ahmed, JLM, BoD, Angela Eagle, Tracy-Ann Oberman, Lisa Nandy, Steve Reed, Jon Cruddas, Trevor Chinn, Martin Taylor, Lord Ian Austin and Mark Lewis. #LabourLeaks #StarmerOut 24 tweet🧵

Morgan McSweeney, Keir Starmer’s chief of staff, launched the organisation that now runs SFFN.
The CEO Imran Ahmed worked closely with a number of Labour figures involved in the campaign to remove Jeremy as leader.

Rachel Riley is listed as patron.
https://t.co/nGY5QrwBD0


SFFN claims that it has been “a project of the Center For Countering Digital Hate” since 4 May 2020. The relationship between the two organisations, however, appears to date back far longer. And crucially, CCDH is linked to a number of figures on the Labour right. #LabourLeaks

Center for Countering Digital Hate registered at Companies House on 19 Oct 2018, the organisation’s only director was Morgan McSweeney – Labour leader Keir Starmer’s chief of staff. McSweeney was also the campaign manager for Liz Kendall’s leadership bid. #LabourLeaks #StarmerOut

Sir Keir - along with his chief of staff, Morgan McSweeney - held his first meeting with the Jewish Labour Movement (JLM). Deliberately used the “anti-Semitism” crisis as a pretext to vilify and then expel a leading pro-Corbyn activist in Brighton and Hove

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