I always liked Charlie's words on shorts. Something to the effect of at best, you'll double your money, and at the worst, you lose it all and then some with unlimited downside risk should securities rise.

Bias alert, I've never shorted anything. Nor have I used margin, options, or anything else exotic or complicated or exciting, but my book value CAGR was 20% in the 20 years or so I tracked it, until I retired and now don't care too much.

Now, I have derisked, in today's high Shiller PE, AI mania market. My stock/fixed allocation went from 75/25 to 65/35 last week. I expect in a couplefew years there will be another early 2009 or March 2020 style opportunity. Wife and I backed up the truck with what cash we had in 2020, and it paid off very well. Perhaps Greg is doing the same.