When is a stock cheap enough to buy and hold without a short sale as a hedge?

什么时候一只股票足够便宜才值得购买并在没有套期卖空风险对冲的情况下持有它？

Establishing the short sale will decrease the chance of time present arbitrage and the profit space.

在一个国家内建立卖空交易条件，跨期套利机会会减少，跨期套利收益空间则变化不是很显著。

However, often encounter a "short sale business", moving the company now will not be easily tolerated.

不过，对于时常碰到的“放空业务”，搬家公司现在就不会轻易地忍让了。

It is tough for outsiders to distinguish an investor who simply sells a stock from one selling it as part of a short sale.

对于外部人士来说，很难分辨一个投资者到底只是卖出股票，还是作为卖空的一部分而卖出股票。

In a short sale, investors borrow shares and sell them, hoping the stock will fall and they can buy it back at a lower price.

在卖空交易中，投资者借入股票并卖出，待股价下跌后再以更低的价格买进。