#3, followed by #2 (which he'll liquidate at a loss to not deal with returns in a year). No chance of #4, and if #1 happens we won't hear about it -- for what

#3, followed by #2 (which he'll liquidate at a loss to not deal with returns in a year). No chance of #4, and if #1 happens we won't hear about it -- for what it's worth, most everyone I know in #1 are keeping it entirely on the down low. :)