I dunno if Jim is the best guy to be asked... I am a numbers kind of guy: Jim Chanos' net worth: 400 million Michael Saylor's net worth: 9.7 billion Kynikos Associates performance: 1 year: 8% (SPX 25%) 3 year: 8.7% (SPX 43%) 5 year: 32.4% (SPX 105%) 10 year: 41.4% (SPX 220%) That being counted, Jim could be still right eventually, after all even a blind squirrel finds an acorn once or twice every autumn.
Chanos is a legend in the shorting business but that is a very difficult business due to the money printing flood of liquidity pushing S&P 500 and NVDA, and Mag 7 or 8 to the moon Disclaimer: I did not watch the video, prefer only bullish mstr videos to spend my time on
impressive considering he’s 100percent short. and saylor’s net worth is the result of getting one call right and the market paying him 2x what that call was worth. By market I mean morons.
I think he shorted Tesla, thus the huge underperformance of his HF. At this point anyone who gives him money instead of just putting it in ETFs is a moron. Anyhow it is a long video, the relevant part is between 20 to 32 minutes. but then again, timing is everything. Actually, we should make a vote. Let's say you have to invest for a year, what would you choose: 1. Invest in MSRT. 2. Invest with Chanos. 3. Buy SPX. We should come back a year from now and see how it went...
I'm waiting for my mstr call options to be in good profits so that I can purchase 1000 mstr shares and hold for 8 years (2033) Those mstr shares split-adjusted by my estimation should be worth over $10M, as that will cover 2 bitcoin halvenings 2028 and 2032, and the +1y runaway bull market 2029 and 2033, respectively So far, my waiting on those call options has cost me a lot m2m pnl losses, though
After actually listening to what he said, he had 1 good point: If money is pouring into Bitcoin from Saylor and alike figures, how come Bitcoin is not going up? (it basically mimics the market) If institutions are buying, who is selling? I actually have an answer to that. Not sure how many miners are selling immediately the newly mined coins, but if all, that is a 45-50 million dollar per day selling pressure on the price. So as long as the institutional buying can't come over the miners' selling, price is not going up faster than the average market movement.
Saylor was already a billionaire before bitcoin, but he did purchase 10,000 bitcoin for $100M after being orange pilled by his good friend Eric Weiss Saylor was an early investor in a lot of tech companies, i.e. AAPL 7 yachts, 6 houses... then 10,000 bitcoin for $10k/ea...
Yes, he took big losses on Tesla short, along with Steve Eisman and a few other big short-players...(no pun intended). I believe he also took big losses on his Coinbase shorts as well, then finally decided to hand in the towel and shut down his hedge fund. To be fair, he got shorting Enron dead-right, when WallStreet was pumping it up like the next big AI revolution.
I think the lesson of the past 2 decades is that ZIRP and Government Spending and money printing is a force that is even more powerful than compound interest. Most of us grow up seeing real world limitations in our lives. Some of us are too ugly to date, some of us are too poor to buy a house, maybe even too poor to eat consistently. Some of us are too dumb to be successful. Then there are also people too boring to be charismatic, etc. But the market has no limitations when governments have the power to do whatever is necessary to keep the ponzi scheme going. (Everything from money printing to bombing who ever gets in your way) The smarter you are, the more you think that some law of the universe will eventually have to keep things in check. The adage, "don't confuse brains with a bull market" really comes to mind. I have no doubt that it will all come crashing down, and I'm betting before the end of the decade, but until then, it seems like riding the wave is the only way to play the game.