Finance Student Quoted in New York Times Article
In the April 22, 2005 New York Times Business Section, Alex Ring, a 20-year-old finance major at the University of Illinois at Urbana-Champaign, said that the recent market plunge has made him bearish on the market even though he has about $15,000 invested. As a result, he said he planned to continue to take short positions in the Nasdaq exchange-traded fund he owns through an online broker for at least the next month, betting that its price will go down. By taking a short position - borrowing to sell something now - an investor can profit if that security or index falls and he or she buys it back later.But while not betting on the overall market, Mr. Ring is still willing to take a narrower bet on a stock sector he likes. In this case that is oil and gas companies, through index funds like iShares Goldman Sachs Natural Resources fund. Some investors still want to stay the course, however."