In finance, short selling is a way to profit from the decline in the price of a security by borrowing shares, selling them, buying them back at a lower price, and keeping the difference. The controversial process of naked short selling involves the same stepsâ€”except the investor does not first borrow the shares or even determine whether the shares can be borrowed. Critics of the practice say it can be used to manipulate and drive down a stock's price. Is naked short selling legal?
Robert Louis Stevenson
Back in the day
Fanny Kaplan was a political revolutionary who was executed for attempting to assassinate Vladimir Lenin. She became disillusioned with Lenin as a result of the conflict between the Socialist Revolutionaries and the Bolshevik party and decided to take action, shooting Lenin three times as he exited a Moscow factory. Though she confessed to the shooting, it has been suggested that Kaplan could not have been responsible for the assassination attempt. Why not?
Born on a day like today
Ranked the second richest man in the world, with an estimated net worth of about US$52 billion in 2007, this "Oracle of Omaha" has amassed a fortune from astute investments through his company, Berkshire Hathaway. In June 2006, he made the commitment to give away his fortune to charity, with more than 80% of it going to the Bill and Melinda Gates Foundation. Buffett's donation represents the largest act of charitable giving in US history. What is his annual salary from Berkshire Hathaway?