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I don't see how being short stocks in a market that has gone from 2,000 to 14,000 has been plus EV. You are telling me you know hedge funds who have outperformed this market on their shorts over the past 20 years? This would have to be on a risk adjusted basis too. I would really like to see that trading record. Phenomenal!
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I know this is hard for you to imagine, but there are people in this world that actually know how to read a financial statement and evaluate stocks. Some of them even make money shorting stocks. Ever hear of James Chanos? Or
Manuel Asensio?
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You think Jim Chanos got Enron right by scouring finnacial statements? Ha, good one. Sometimes inside sources are better than financial statements. Ever heard of Raymond Dirks? I believe you can make money shorting stocks, I don't believe it would have been plus EV to be net short stocks over the past 20 years. Although Chanos has had many succesful short sale calls over the past 20 years he was not 100% short, nor would he have beaten the market if he were.
I worked at the same firm as Chanos in the 80's and followed some of his short sale ideas in the 80's through a short sale newsletter written by a guy named Murphy I think, he also wrote a tech letter. Chanos is brilliant, no doubt, he has his sources though, like all good short sellers!