Has to be the reason.
Dumbest thing I’ve heard in a while.
I believe the guy is a true believer, and put his money where his mouth is, and has been predicting a crash for a while.. He has his funds ready to catch the short, and believes it’s close..
If he placed his funds in an interest bearing account, Jumbos, Mutuals, etc, it would take too long to convert in the event the collapse happens, as it did in 2008, time is crucial.. Having it in a trading account is far more risky.. ie; Lehman bros..