Google Cormark the seller of todayThis is from the OSC document dated August 1, 2008 and the cause of distress for the longs:
7. As part of its investment strategy, the Fund makes extensive use of a short selling strategy pursuant to which securities which are deemed by the Applicant to be overvalued with respect to a particular company's business and growth prospects, and which may face financial distress, competitive pressure, or other adverse conditions, are sold short. The Fund will generally enter into short sale transactions to attempt to increase the Fund's total return and may also make short sales to hedge against a decline in the market price of securities that it holds or intends to buy. There is no limit on the Fund's ability to enter into short sale transactions or on the ratio of its short positions to long positions. However, the Applicant will monitor the Fund's obligations under short sale agreements to attempt to ensure that they do not exceed the assets of the Fund available to satisfy its short sale obligations.
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