Subject: Re: Short brkb, long spy ? It isn't my thing
I have a smallish but not negligible short BRK position via puts. Not typically my thing...

I did too, but no longer. I closed them Apr 8-9 a moderate profit last week--they tend to evaporate worthless if you wait too long, and it looked to me like we'd at least get a bounce.

Berkshire is still a fair bit above the usual valuation level, especially considering that the coming year is likely to be worse than average, so why close them? I thought there were better bearish bets one could make: I used the proceeds to buy disaster puts against something that I thought might fall more in the next round of poop hitting the fan, a small cap fund. Aside from value, they tend to get hammered hard in big sell-offs.

Jim