
#11: Dale Wettlaufer on Value Investing in the 21st Century
Superinvestors and the Art of Worldly Wisdom
How to Average a Short as It Goes Down
You can always average a short as it goes down and monetize it, you know, over and over again. I mean, there's just no getting around it. The US market is a derivative of the global economy. An industry is a derivatives of the US economy. A company is a derivative on the entire capital structure of that firm. Why wouldn't you be paying attention to everything above you in the capital stack? It's complex, sure. One thing I don't do is think that they understand every little button and knob on the nuclear plant power panel. And I'm interested to hear how people explain things, but I don't pretend to know what every little button does.
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