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‘What Am I, Some Kind Of Oracle?’: Local Hedge Fund Manager Loses $50 Billion In Three Months
Normally, I would have almost no interest whatsoever in what Warren Buffett did or didn't do during a given quarter, let alone what Omaha's favorite octogenarian did or didn't say once the quarter was over.
And, to be completely honest, my level of interest following Q1 2020 isn't materially greater than zero, either. It's probably not accurate to call Buffett disingenuous, but it's irksome that so many retail investors swear by his bottomless store of amorphous aphorisms which, in most cases,
” extent to which Buffett’s entire career has been spent operating what amounts to a massive activist hedge fund financed (both figuratively and literally) by a giant short put position.”
H, your humor has no bounds.
Carry on!
Well….I am thinking about an investment in insurance companies.
Buffett jokes are the best jokes. Just don’t make them in the company of retail.
H-Man, since he sold all of the airline positions, probably started writing puts on those same airlines in order to buy back into those airlines on the cheap. Same playbook as in the past or use the BA investment page, I loan you money convertible into equity. Less risk on this trade vs the put option trade. Also by selling the airline stock, the lawsuit risk drops which is substantial if he played that game while being an equity holder.
Investing on Main St works well until Main St is shut down. Slum landlords know all about this. The only places making money are payday loans and pawn shops.
The Oracle shows no confidence, US-China tensions revived, retail stores about to report earnings, non-farm this Friday, a nice confluence of events with little upside but a lot of juicy downside for US markets near term. Looks like our friend negative gamma will return sooner than some expected