"Big Short" Investor saying TSLA and BTC are bubbled, but he was wrong for a year before he was right last time
Remember if you are right, but your timing is wrong, you are still wrong
There is a headline circulating about how the Big Short Investor, Michael Burry is short TSLA and calling bitcoin and DOGE bubbled.
One of the articles looks like this:
While this may concern some, it's literally nothing to me.
This guy was dead right about the housing and financial collapse back in 2008.
If you've seen the movie you likely know about this guy, he was played by Christian Bale in the move by the way.
He bought all kinds of CDS on those MBS etc and when they eventually imploded he made a fortune.
In the short term it actually looked like his firm was going to go under.
In fact, had the housing bubble lasted another year or so, he might have made nothing on his bet.
So, not only does it matter to be right, but it matters on your time, which may even be more important than anything else.
Him calling TSLA a bubble now and DOGE and bitcoin as well is probably true, but they can continue to inflate for months and months from here without bursting.
By the way bitcoin isn't a bubble at all, but the price can bubble, a different and important distinction.
People said bitcoin was bubbled at $20k, and they were right, but now it's $47k so those who bought the top of that bubble turned out ok.
Can't be right all the time.
This guy going to be wrong this time.
Being right but being early, is still the same as being wrong.