Or for that matter find any asset class or company that has only been able to exist on low interest loans that are all but dried up these days or from over speculation caused by the fear of missing out. Such targets deserve to be shorted because they are over-leveraged, unaware of what their leverage exposure is, or no plausible reason can be found why the asset's price will continue to increase over the next 24 months. Back in the Great Recession the shorting plan worked like this:
1) Find an institution that is in trouble or so convoluted that it doesn't know what assets it owns.
2) Take a heavy short position with CDSs.
3) Short the common stock.
4) Watch the credit rating downgrade wipe out liquidity effectively freezing the company.
5) And the treasury to step in and wipeout shareholder value.
6) Reap hordes of money covering cheaply.
7) Reap more money collecting money on the wiped out CDS.
8) Find a new target of opportunity like the idiot who sold you the CDS, like AIG or something.
9) Rinse and repeat all the while knowing that no bulls will stand in your way because they lack the confidence to do so.
10) Welcome to one of the greatest short-side momentum markets ever known.