One of my favorite investors that I love reading and following, Harris Kupperman, has offered up his thoughts on what his next big bet could be.
Harris is the founder of
Harris is one of my favorite follows and I find his opinions – especially on macro and commodities – to be extremely resourceful. I’m certain my readers will find the same. I was excited when he offered up his latest thoughts, published below.
Please be sure to read both my and Harris’ disclaimers, located at the bottom of this post.
The Bigger Short
The Big Short has become a cult classic movie amongst finance guys. Of course, we all know how the story ends, so there’s no suspense. Instead, the movie is a tale of hubris, and the downfall of a bunch of smug guys in suits. Meanwhile, our heroes are the handful of Wall Street misfits who figured things out, bet on the inevitable and then questioned their own sanity as the rest of the world ignored them, or even laughed at them.
One of my favorite scenes is when the CDS buyers walk into the American Securitization Forum. The storyline throughout this scene relates to how everyone at the conference is confident, yet oblivious to the fact that they’re all about to get run over—meanwhile our CDS buyers laugh amongst themselves as they know what’s coming. As outsiders, they get the joke and none of the insiders do.
I felt similarly last week as I roamed around the World Nuclear Association (WNA) conference in London.