You can never get the timing exactly right, even if you are right on the fundamentals, ultimately. But on the other hand, you can be very, very right and still lose lots of money, so you have to construct your portfolio accordingly and never let one position ever be too large.
These are ideas I have written about frequently here. Although not unique to Chanos I believe they are very important concepts.
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3 comments:
unless of course that position is an index fund. bah humbug
Turtles are cool. We had a nest of green turtle show up on Anna Maria Island for the first time in a long time. Cooler weather shifted the gestation from 55 to 80 days. The turtle watchers were freaking out when the eggs did not hatch on schedule. The watchers opened the nest up and found the first eggs hatching as the nest was uncovered.
Merry Christmas,
Sam
thank you Sam, Merry Christmas, glad the picture is clear enough to be recognized as a turtle, not a rock.
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