BobS
Former…and Deadzone
I’m well aware that the biggest profits have been made by those few who long ago saw this decline and courageously acted on it. The big banks are down maybe 1/3 this year, the builders by more. Anyone gutsy enough to go against conventional wisdom optimism by profiting from their picks has put their money where their mouth is and deserves praise.
As for me, I made plenty on San Diego RE during the good years (commercial, condos, apts, houses) sold most of my holdings, and now want to profit from what I believe is a safe bet–the decline now solidly in place that will likely continue and maybe accelerate.
Am also aware that going short on any stock is treacherous, and as for options, the vast majority of players (gamblers?) lose. Still, done right, it is actually a conservative approach. My remaining RE holdings in San Diego are going down along with the market, and a short position is a hedge, cushioning the loss.
