1) Let the illiquidity and resulting volatility to work for you. Easier to do on the buy side because illiquid small caps can really drop to ridiculously low prices near the bottoms and occasionally have been able to let those factors work for me to sell at equally ridiculously high prices a few times.Hmmm -- given the short-sales context I wonder if the "sales at ridiculously high prices" were to short-sellers getting desperate to cover their position in an illiquid security (maybe even getting squeezed if their borrow was recalled and they could find no more). Otherwise the investor might surely have waited for better times... a burning urge to sell (due to an equally burning need for cash -- maybe a margin call?) is easier to visualize!-)
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