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5min chapter
Michael Green - The Active Impact of Passive Investing (S5E1)
Flirting with Models
The Passive Thesis
When i was a canyon partners in early two thousand six, it became very clear to me that there was a housing bubble. We decided we were going to make this 200 million dollar investment if we could get comfortable with a hedge. Not only did the home builderg go bankrupt, but the a b x went to 60, right? Which then translates, of course, to about a billion and a half dollars of gain. And the perception that you nailed the trade is just one of the interesting situations where these really have been mis sized.
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