Typically, when investors take a short position, or make bearish bets on a stock, they borrow stock to magnify their bet.

FORBES: Follow The Money--Closely

Those who worry about Amazon, Google or Apple taking the Netflix position forget that those companies are making huge bets to compete in other markets and have shown less interest in making the big investments to compete on the content that is critical in the download market.

FORBES: Buying Apple, Amazon, Google and Netflix

But to get into this position, Mr Hague has had to hedge his bets.

ECONOMIST: Britain and the euro