During the mortgage bubble in the early 2000s, when investors were feverishly trading faulty subprime bonds, a few savvy skeptics recognized the bonds were doomed, so they bet against them. They shorted the bonds and made billions.
It is just like during the subprime storm, when borrowers who couldn't really afford the homes they were buying were offered loans that were cheap up front but then quickly turned expensive. They then defaulted on those loans, and home values crashed, bringing the broader economy down with them. "I think it's quite viable and indeed as an economic proposition but also as a political proposition," said Jesse Keenan, associate professor of real estate at Tulane University and a climate expert.
"Honestly, I'm doing this in large part less for the profits and more to make a difference. The subprime mortgage problem, if people had become aware, through realization of market losses, of the problems being created by subprime risk in 2005, 2 million households wouldn't have had to go through foreclosure," he said.
Now Burt is adding the coronavirus to the mix because he believes climate and Covid together make the bet even bigger.
But benshapiro said people could sell their coastal homes if climate change was a problem. lol
We Chinese all know COVID-19 was intentional accidentally leaked on Sept 18, 2019 when CCP did a drill to plant & detect the virus at Wuhan airport. The virus was made in a PLA lab - The other side of the pandemic the mainstream media doesn’t want you to know.