Complexity. Indexes are easy to manage. You could short them to the same weighted percentage that they exist in the index but that's of course not completely s

Complexity. Indexes are easy to manage. You could short them to the same weighted percentage that they exist in the index but that's of course not completely simple and you have to pay fees for the shorted stock. If O&G had a convenient ETF (I don't know if there is or not, I imagine there is), you could short that rather than individual companies. Shorting Facebook would be... interesting for your returns.