On the other hand, a bearish investor who does not hold shares will have no way of putting his money where his belief is since short selling is not allowed.

• 反之，假设他对股市的全盘平均走势看跌。 如果他未持有任何股票，当局又不许卖空，他除了在场外穷叫嚷之外，不能利用自己的“高见”得利，诚然可惜。