It is a sense of superiority. When you know better, and sit on the sidelines during an asset bubble, it endlessly grates on your nerves to see people smugly profiting. Thus when the assets start to deflate, it is payback time, and you start bashing the newly chastened. It is not healthy but it is human nature.

I stand by my statement: These guys are dumbasses who have no business owning a couple of million dollars worth of real estate. They should own one house, such as a nice condo in Florida, and have the remaining $million in CDs, farting out 5% interest.