The details of my Big Bet against Krispy Kreme

[Off Duty]

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I learned how difficult it is to make money from short ideas. I used options instead of short sales to cap my downside risk but if I had shorted the common and just held it until now I would be up around 35% or so. But it doesn't matter, cause it's not something I'll likely do again. Making money on the long side is infinitely easier and less frustrating than going short.

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And it's a hard lesson to learn.

I thought the real estate market was oversold in 2002 in SoCal. I think I was right then, I know I'm right now. But just because I am/was right doesn't mean the market can run against you for a LONG LONG time.