Yeah, it should. He should have known to short-sell pretty much everything if he really predicted it. I remind everybody that it takes no money to short sell. If you really think everything is gonna tank, do it. Put your skin in the game.
It's easy to say "I saw it coming!" after it's happened. But if you saw it coming, why didn't you do something to take advantage of the situation (given that doing something about it is pretty much impossible)?