Hedge Fund Glossary

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Short

someone who is Short a Security, or has a short position in a Derivative, and makes money if the value of that Security/Derivative goes down. It is the opposite of being Long — which, in the most basic sense, means you own a Security, or have a Long position in a Derivative, and you benefit if its value goes up. An investor can take a Short position in a Security by selling a Security she does not own.

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