"No law can protect a man from his own errors. The main reason why money is lost in stock speculations is not because Wall Street is dishonest, but because so many people persist in thinking that you can make money without working for it and that the stock exchange is the place were this miracle can be performed." -- Bernard Baruch
The Art of Short-Selling indirectly explains why short-selling is not for the amateur investor.
  1. Professionals earn interest on the short transaction cash (page 226).
  2. Professionals have the time to conduct the research.
Because of point (2), this book's thirteenth chapter is on investment research. If you're interested in investing, this is a great summary of the various documents and techniques of stock research, and has three recommendations for further reading which I'll follow:
  1. Financial Statement Analysis
  2. Abraham Briloff
  3. Quality of Earnings
I'll also be reading Grant's Bernard Baruch.