I've Never Shorted a Stock in My Life

And I doubt I ever will. It's a skill I don't possess.

You see, even if I was right in determining a stock to be overvalued -- there's no reason it couldn't become even more overvalued.

I remember reading an interview with Walter Schloss years ago. He said a friend came to him and said, in effect, "Walter, tell me which stocks are overvalued so I can short them." And Schloss answered that he didn't really want that, that shorting was a different game.

Some folks know how to play that game -- and bless 'em. I hope they make a mint.

Except when it comes to Fairfax Financial Holdings (FFH/NYSE), that is. ;-)

But if shorting happens to be your cup of tea, you might be interested to know that Bloomberg columnist John Dorfman is holding his annual "Short Sellers Don't Have Horns" contest.