Too much to listen and too little time...
My rating: (4/5)
Pointers:
3:39 – How did you get into the business? 7:22 – The good short seller who is producing nominally minor positive returns in a bull market enables you to be more long. 8:26 – “We really won’t accept and don’t want to accept any money we know is consciously coming to us because they think the market is going down. You can get that protection elsewhere.” If they invest with us (Kynikos) is because we are enabling to hedge out their excess long exposure or let them be long more. 10:21 – How do a short seller think about risk management? “I’ve seen far more stocks go to zero than infinity.” 12:59 – How do you think about situations where you are conceptually correct...