I don’t know how aggressively I would short bonds, but a short play on ZROZ PIMCO 25 YR Zero Coupon ETF could eventually play out. Some time either rates will rise based on improving economic growth, inflation, and or just a realization that printing money forever by Central Banks might have an unanticipated outcome.
Kass puts a high degree of probability on how the bursting of the bond bubble will wipe out years of profits for many.
Source: Doug Kass: Im Aggressively Shorting Bonds – TheStreet