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He excels himself in that piece. But a question: if "shorting" and such is really taking one side of a bet, then if it's a sure thing, why does anyone take the other side of the bet?
I'm not sophisto, DM, but I gather that some of the players do combinations of "long" and "short" on the same stuff - like both putting and laying ante-post on the horses in a number of bets spread over days and weeks. "Two views make a market" - there will almost always be someone else betting that it can't be as bad as you think, or that it's worse.
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