My First Short

Recently I have started my first short position. While I conceptually know how this process works, I've never sold a stock short. So, in the name of learning, I've sold one single share of a certain stock short. I believe that the stock has been overvalued and is still overvalued. Of course, the market can keep it overvalued for a long time. But that is part of the fun here. With one single share, I am in no danger of going bankrupt if this doesn't work out. I can hold on to the position for as long as I want, and can gather some data on the costs of such and exercise. In fact, the stock going down to my sell target in a few days might be bad for my learning process here.

Selling short isn't something I plan on making a living doing, but at the same time, if I see the right opportunity in the future, I don't want to be afraid or handicapped by a process that I can learn today for virtually free.

Again, I want to primarily be long with zero leverage. But as a Tennesseean by birth, I feel some affinity for John Templeton and I love the simplicity and genius behind his 1999/2000 IPO shorting. If I were to see something like that in the future, I want to be ready.