Quote:
Originally Posted by SMD
The problem, which many people found out, is that the market can stay irrational a lot longer than you can stay liquid. Lots of people went short in 2006 and got washed away.
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Evn the smart ones...
One of my old boss/friend kept writing calls in 2006 through 2007.. his 2 bil HF went to $125 mil. That was not good. Not a chunp neither, At his prime he managed one of Fidelity’s biggest mutual funds.