Illusional Delusion

ProShares Short ETF Short-Term Capital Gains Distributions

I'm not sure how this is going to matter much. I happen to have bought SRS in December (any time before that would have been much worse) so accounting for the wash sale rule, I will be taking the loss into 2009 either way unless I close my positions, which opens the gate for me to miss out on the upside of the position that I have taken. Given that most holders believe that there is still sizeable downside risk in the economy, the odds of losing out on the position's upside is a much bigger loss than the dividend's tax. Personally, I'm a small investor, so unless people are talking millions here, maybe I'm missing something...