'The Big Short again': A hedge fund boss and Warren Buffett disciple posted a 40% gain during the market meltdown | Markets Insider

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'The Big Short again': A hedge fund boss and Warren Buffett disciple posted a 40% gain during the market meltdown

"This is just 'The Big Short' again," Tavi Costa, Smith's co-portfolio manager, told Ozy."It's very difficult, and emotionally, it's just brutal."Smith's Buffett-esque patience shouldn't be a surprise. His father introduced him to investing by handing him a bunch of the billionaire investor's annual shareholder letters, he told Ozy."Buffett built his empire in Omaha," Smith told Ozy.

Embracing Buffett's long-term perspective and shunning herd mentality likely helped Smith to hold tight until stocks tumbled."It started from record highs, historic leverage, and the most fundamentally overvalued composite of multiples ever, higher than 1929 and 2000."BlackRock's $1.

Smith remains net short on stocks as he expects"much more downside" for equities and corporate credit markets, he told investors last week. The key reasons for his bearish stance — an overvalued yuan and banking and real estate bubbles in China — remain intact. However, Smith is ready to switch tacks once Crescat's macro model indicates that markets and the economy have bottomed.

 

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Seems to me if he’s been shorting market since 2017 he is most likely still not above SP 500

Profiting from disaster has some kind of evil twist. Money is useless against the death angel of viral infection. Guess you could live in a bunker underground.

dedeyabole watch this movie too.

FUCKING NAZIS ... THIS IS NO QUARANTINE *THIS IS A NUCLEAR POLICE STATE*

'Who has information has power'

What if Covfefe meant a lot more than we thought it did.. Cov- Covid FeFe-Originating in Chicago; a slang word that is defined as 'a party'. Generally a ... She a fefe bruh she ain't messing with you unless you got some money. by Tavoy ... CovidParty. Wtf.

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