我做的熊市基金主要是SDS,DXD,QID,SKF,FXP這些。 感覺這一輪（第二輪）下跌是因為unwind of carry trade和crash of commodities，還有redemption of hedgies and mutual。這一輪下跌基本結束的標誌是美元開始走軟和油價見底。未來美國政府大概還要1－2T用來救市。至少會看到一個日本式的十年，如果不是大蕭條的話。 I read some of your posts. I think taking out home equity to short the market is a very risky move. Great opportunities are accompanied with great risks. Even if you spot the major trend, you might still stand to lose because of volatility and lack of discipline, or being overwhelmed by your emotions. Using bear market funds is less risky than outright shorting 'cause you lose 100% at most. I wish you the best, my friend.