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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (56479)	12/31/2015 12:37:43 AM
From: Elroy	Read Replies (2) \| Respond to of 78750

I guess the above underappreciates the foundation Mike had for his big call For those of us who have no idea what you're talking about, what was the "big call"?

To: Jurgis Bekepuris who wrote (56479)	12/31/2015 1:43:15 AM
From: bruwin	Respond to of 78750

" ... a very strong variant perception and bet very heavy on it" Yes, indeed. BUT, that "variant perception" better be based on a firm, logical and correctly calculated conclusion. What Mike Burry saw, in what was going on prior to 2008/2009, was illogical financial happenings that must end in disaster if they continued the way they were going. He had the necessary financial nous to see it coming and made, IMO, a very safe bet. I believe Warren Buffett also made comments of a similar nature to Burry prior to 2008/2009 ....

To: Jurgis Bekepuris who wrote (56479)	12/31/2015 2:00:56 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78750

OK, I'll add the third: Mike made a great (lucky?) call to close his fund after the Big Short. I wonder if he would have outperformed 2009-to-now within a hedge fund framework. A lot of famous hedge fund managers haven't. Yeah, I know about his calls on farms, etc. But SP500 has been on a tear, so it's tough to know what would have happened. Probably he also would have had to handle larger portfolio with diminishing opportunities. Great call again even if it was forced by his disgust towards the investors (who were not happy with his Big Short macro call).