I was asked -" I note your shares outstanding chart with interest. But what about the Nasdaq? I understand there are 50% more listed securities than in 2020, less than two years ago. Might this be where the shorting opportunity lay? And if so, perhaps the fact that the S&P has become so concentrated in Nasdaq issues, perhaps it’s a better short than long?"
Valid point. We see shares outstanding of overall Nasdaq up a lot - but Nasdaq 100 only slightly. So being more negative on small tech names like Spacs makes sense.
I was asked -" I note your shares outstanding chart with interest. But what about the Nasdaq? I understand there are 50% more listed securities than in 2020, less than two years ago. Might this be where the shorting opportunity lay? And if so, perhaps the fact that the S&P has become so concentrated in Nasdaq issues, perhaps it’s a better short than long?"
Valid point. We see shares outstanding of overall Nasdaq up a lot - but Nasdaq 100 only slightly. So being more negative on small tech names like Spacs makes sense.