The market was massively mispricing risk of all kinds, he says. He bought the equivalent of an insurance policy for $27 million in upfront costs that was worth $2 billion. People were sitting on mountains of savings and they wanted to spend it,. So we put on an interest rate position, it was a little early in early 2021, that ended up being incredibly lucrative.
It's always a good idea to know why you're about to invest in a business.
(0:21) Jason Moser discusses: - Short-term catalysts, long-term trends, and why it's ok to invest in both - The importance of understanding how a business makes money - Reasons to sell a stock
(10:17) Deidre Woollard looks back at the bear market of 2020 with Liz Hoffman, author of the new book "Crash Landing: The Inside Story Of How The World's Biggest Companies Survived An Economy On The Brink".
Companies discussed: ABND GS, HLT
Host: Chris Hill Guests: Jason Moser, Deidre Woollard, Liz Hoffman Producer: Ricky Mulvey Engineers: Dan Boyd, Heather Horton, Rick Engdahl
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