It happens after you exit the trade

"Our investment strategy, which is cyclical in nature, has been challenged by the unprecedented 10-year economic expansion, decreased liquidity and dramatic changes in the hedge-fund industry."

I have learned to bet against myself over the years. Like I have a couple of hard assets I want to dump. My plan to do so is likely to go awry, it always does.

Hence, I am prepared already to sell at lower than expected prices. The cascade of events will be triggered by the cost of a long term tenant exiting, and I want to skip that cost and cover some tax bills which also cascade, greasing the collapse of my property empire. And my worst of fears, this is all happening in California in the year of the property tax battle, and rent control threatening. If I do not get it done, the unions will be after my ass something fierce.

And I am not the only one.