So what is DZ’s investment thesis exactly? Short RE and lose about 7% if it merely is flat after inflation?
Profitless tech at 10-50 P/S ratio was an amazing short opportunity last year, but I don’t recall him mentioning it.
I added a second small RE short last month, BXP. Nothing wrong with BosWash and SF class A office towers, but I think WFH and urban crime are going to make them underperform and I want to hedge more.
Also still short SPG, the mall owner. They are well run, but in the wrong business.
