They sold lower quality clothes for 50p a kilo, and whatever failed to go, or was of particularly high value, was then put on eBay.
Indeed, certain high-frequency traders were forcing long-term investors, including those who managed funds that held ordinary people's retirement accounts, to constantly buy higher and sell lower.
It has been said that "value investing is the art of buying low and selling lower".
With prices falling quarter after quarter, the prospect of buying low and selling lower doesn't sound nearly as appealing as buying low and selling high.
A little over a year ago SAP started a sales group that focuses entirely on selling lower down the organizational chart.
They will almost always leave money on the table by: selling lower priced products and dropping prices to "clinch the deal".
Citigroup's balance sheet is "highly constrained" from an inability to sell lower quality assets, said Oppenheimer's Whitney, adding that Citi might have to sell some $100 billion in assets to free up capital.
That will point to HTC looking at selling lower and lower-cost handsets, I suspect, since these are the primary driver of sales in that market, especially in the uber-competitive area of Android-based handsets.
Son James, who is Loews' CEO, explains that it no longer makes sense to short the S&P index, what with half its issues selling lower than they did a year ago.
I have bought low and sold lower.
