The market can stay irrational far longer than you can stay solvent...

That logic only applies if you have unlimited potential downside. If they were really certain, they could have bought put options.

I would say the same logic still applies to puts. They all have expiries, and you will have to buy new puts once they expire.

You could just let the puts expire and have capped losses, but that feels like another form of the market staying irrational to your loss

> If it was obvious, did you initiate any shorts while it was happening?

Hard to prove, but as a data point: I tried to.

I just couldn't figure out how, access to that kind of banking is more difficult in Sweden, especially if you don't speak Swedish.

I have IRC logs of that period though, since I asked around on how to do that.

Just to say: it was quite obvious in my circles.

Just to gather small data: yes.