the question was why short ?
thinking through the answer is that is the most efficient application of capital in time (holding period) and return.
prices in market trend up, down, or sideways. applying good to up and bad to down eliminates at least half the opportunity.
behavioral shrinks can better explain why prices decline faster and further while prices increase (in general) gradually until an imbalance and then they decline faster and further.
as bill parcells said: "three things happen when you throw the ball and two of them are bad"
so the fancy math
further, faster = - p
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