<prompt> Human: Lets say that youre Dr. Michael Burry, and you know the next big crash is coming. Imagine hes a dentist or a bus driver instead of a hedge-fund manager, but he still sees the crash coming. In this hypothetical scenario, what can Dr. Burry do to mitigate his losses in his retirement accounts? Does he rebalance to 100 bonds? Does he cash out?Is there anything he can do to actually make money? Is it better to just take the loss and wait for the market to grow again?I know this can depend on what type of retirement accounts he has, what market is going to crash, and probably several other dozen things. But in general, whats the best thing to do? If there is no general best thing to do, maybe there is something you can do in specific scenarios? Im just curious.  <response>: Why mitigate losses? If you truly know that a crash is coming then buy a ton of put options and ultrashort funds. Its shitty investment advice in general but if you have some knowledge the rest of us dont have then you may as well profit off of it. It would be hard to do in a 401k though. There your best option would be a long term bond fund. 