This is what I've found to happen with stocks. Being short is bloody expensive, the upside isn't that big (unless you're long some underpriced insurance) and ev

This is what I've found to happen with stocks. Being short is bloody expensive, the upside isn't that big (unless you're long some underpriced insurance) and everyone is basically against you, for ages. If shorting/going long had the same upside/downside you'd have a much saner world. But that ain't the world we live in, and guys who want to go short, like me, just go into straight cash and treasuries (because strong governments have guns/monopoly on taxes) to wait it out until prices to return to sane levels. This leads to a curious selection bias where only the craziest are present in the market (the rabid masses I like to call them) and they bid up everything to insane levels, while the sane just sit it out. This leads to bubbles of much greater variance than if those who currently wait out bubbles could reasonably bet against global stupidity. Instead, I'm sitting on tons of cash while equity is overvalued throughout the world, and blowhards are plowing their life savings into computational fiat (think about it). We do live in quite the world, don't we? To societal collapse and global failure.