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They might have bet a million dollars on it, but if their normal short position is also around a million dollars, then I am not as impressed. If they wanted to
by didgetmaster 4y ago
They might have bet a million dollars on it, but if their normal short position is also around a million dollars, then I am not as impressed.
If they wanted to show everyone how smart they were, I expected a quote something like: "We were so confident in our analysis that we invested 10x our normal short position in it!"
- arez 4y agoit's not about being smart or anything, they just explain how they figured it out, doesn't matter how much money they made, that's just focusing on the wrong things
- kqr 4y agoIt does matter, because it's very easy to construct an explanation for how you "figured it out" after the fact, if one of your hundred small bets happened to work out. The person doing it may even fool themselves!
- bredren 4y agoThere is a reason the interviewee pivots from questions about how big of a take to from the short to the situation “certainly not something to be celebrated.”