Legal actions against VGI Partners, page-51

Yep, taking long or short positions are completely legal. Its just if you both trade and advise the question becomes is in the interests of the market that you can take a large short short or long position then later advise your client basis to follow? Once its released to the client base you lose control of confidentiality. If you have a good sized client base you can then effectively manipulate the market to your advantage.

So the next question is whether legislation should tighten up this area.

The report however has created an overhead gap which good businesses close. In CTD's case the overhead gap is at $27.31. I expect that the gap will be filled at some point in the future.