Oh boy https://t.co/dOBquz3hzF

Yes please @elonmusk

Bad news for many reasons.

I didnt realize this $abnb @airbnbhelp @bchesky

Where's Robert Rodriguez when we need him?

@JLinWins @MadThunderdome Been short this for months. They alienated property Mngmt cos with their TOS. They are missing the boat on new inventory and the onesie hosts are tapping out with combo of rates & RE prices making ROI difficult to find and buy more. Stagnant supply for AirBnB. RevPar topped 2021.

First we survive, then we make money. Short selling will help you survive. Be Like Mike.

matter. When they raid the whorehouse, even the piano player gets taken out and shot. I will leave you with this advice, from the smartest investor I ever met, the late, great Soros lieutenant Gerry Manolovici, who had to advise me on many occasions, during true panics:

"buy the dip". Let me tell you something. If you think this is a "panic", I have some tech stocks to sell you. Based on my experience in 2008, many "value guys" are not going to believe the prices at which their favourite stocks are going to sell. Fundamentals will not

but not his analytical approach. His fund performed spectacularly, in the end. He found investment opportunity in an overvalued market and took advantage by shorting, not by being long, despite his heritage as a "value guy". You conclude your letter, essentially, by saying

the cumbersome process of buying and selling CDSs, I put my hand up to participate in his CDS fund. It got few takers and was the fund I referred to above that was never formed. We know the end of this story. That fund would have "killed it". Michael Burry changed his spots,

about an esoteric investment security in his quarterly letters: Credit Default Swaps. His fund was amassing a large position in these instruments. Yes, Michael Burry's Scion Capital. Scion tried to raise a fund dedicated to CDSs. [Me]Being a fund too small to be able to manage

obscure, was similar to yours. I wanted to sit beside this guy at lunch; so I did. We had a nice discussion, and he put me on his fund's quarterly letter distribution list. Several years later, as the U.S. was beginning to careen towards financial crisis, he started writing

Francisco. They put a few managers on display to talk about their funds and their experience with BofA. Lunch was served afterwards. One particular manager was very intriguing to me; his investing style, primarily long attractively priced stocks, some with "hair" or somewhat

notwithstanding. If you are not about making money in a bear market, you are doing your partners somewhat of a disservice, I think. Let me tell you a story: When I started my hedge fund in 2001, I was invited to a Prime Brokerage marketing day by Bank of America in San

selling, especially in this kind of market, can be used to generate substantial capital gains. Your kind of fund structure is well-suited to this type of capital deployment, and your analytical approach certainly can identify great short sale candidates, your long bias

as a strategy to protect capital. To, er, hedge, a principle which the current generation of "hedge" fund managers, particularly the lemming-like "value guys" seem to place in the rubbish bin. But short sales are the basis for the entire hedge fund industry. Secondarily, short

offhandedly denigrating what is an extremely valuable investment technique. More basically, you have missed the entire point of short selling. It's not to get rich. It is certainly not to "be right" about timing the "end of the world". Short selling should primarily be used

Inflation is pervasive. You start your email with, basically, a slur on short selling and short sellers. i would like to get you in a room with Jim Chanos. Or Marc Cohodes. Or my friend John Hempton. You have stooped too low, and show more than a tad of hubris by

the Stanford GSB, as I did, so you can't be all bad. Basically, I like your investment approach, which has worked well. In a gigantic bull market. The likes of which will not be seen for eons. Bonds have been going up for 35+ years, after all. But that has changed.