One company stands out as the year's top short for market bear Brad Lamensdorf of the Ranger Equity Bear ETF.
"CenturyLink – it's a new position for us," he said Wednesday.
On "Fast Money," Lamensdorf said that the company, which provide landlines and internet service, hit his radar while screening companies for cash flow.
"The dividend of this company takes 90 percent of their entire cash flow," he said. "We found a lot of poor cash flow items, as well."
(Read More: Short These Luxury Retail Names: Lamensdorf)
Lamensdorf said that the company had "played with some depreciation" and was "playing a lot of games."
"We felt that this is the type of name – again, if there's weakness in the economy – this thing really gets whacked 25, 40 percent," he said.
Lamensdorf said that all of the ETF's holdings were there on a fundamental basis.
"Everything that we have in the book, we have fundamentally vetted out," he said.
Trader disclosure: On Jan. 2, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long GDX; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long WMT; Tim Seymour is long SBUX; Brian Kelly is long QQQ PUTS.
