Short-sellers are frequently derided as vultures, criminals, pessimists or un-Australian, in reality, shorting stocks is a stressful and often lonely way to make money in the market. When a fund manager makes the correct shorting decision, there are never glowing pieces in the financial press with a satisfied looking CEO pictured next to the fund managers that were smart enough to back their management team. Earlier this week we closed out one of our largest short positions in the Dividend Income Fund, a long-standing short in Seven West Media. In this week’s piece, I am going to look at the mechanics of closing out a successful short position (essentially buying shares on the ASX to deliver back to its original owner), along with the dangers of being too greedy.