VCJIM, the entire last portion of the post is QUOTED FROM BILL FLECKENSTEIN. I do not short anything; I am a very simple investor. Shorting and options are way too risky.
To repeat, the following ENTIRE quote is from Fleck:
QUOTE
” Q: What do you think are the drawbacks, if any, of shorting LEND now?
• …that you could get squeezed hard in a rally.
Q: With the serious slowdown in MEW (mortgage equity withdrawals) and the obviously slowing housing industry – what do you think about shorting some of the big hardware type retailers?
• Could be a good idea… AFTER the Fed backs off.
there will be more money short the guys who have lent against real estate, IMO… so they are better targets.
the long side is way, way, way easier… and the gains can be far bigger.
As for housing FALLOUT, I prefer the lenders against home as collateral. THAT is where the real wipeouts will occur in my opinion, so I decided to do them instead of housing stocks.”
