'The Big Virus Short'

GrundleStiltzkin

The Big Virus Short

A hedge fund manager who predicted the mortgage meltdown—and was later portrayed by Christian Bale in “The Big Short”—says virus countermeasures imposed by governments are leading to economic destruction and death.

Reed Stevenson reports for Bloomberg:

Michael Burry, the doctor-turned-investor who famously bet against mortgage securities before the 2008 financial crisis, has taken to Twitter with a controversial message: lockdowns intended to contain the coronavirus pandemic are worse than the disease itself...
“Universal stay-at-home is the most devastating economic force in modern history,” Burry wrote in an email to Bloomberg News. “And it is man-made. It very suddenly reverses the gains of underprivileged groups, kills and creates drug addicts, beats and terrorizes women and children in violent now-jobless households, and more. It bleeds deep anguish and suicide.”

Dr. Burry tells Bloomberg that he would “lift stay-at-home orders except for known risk groups. We already know certain conditions that are predictive of severe disease. Especially since young healthy lungs tend to be resistant, I would let the virus circulate in the population that is not likely to get severe disease from it. This is the only path that comes close to balancing the needs of all groups.”

PurpleThrobber

GrundleStiltzkin said:

The Big Virus Short

A hedge fund manager who predicted the mortgage meltdown—and was later portrayed by Christian Bale in “The Big Short”—says virus countermeasures imposed by governments are leading to economic destruction and death.

Reed Stevenson reports for Bloomberg:

Michael Burry, the doctor-turned-investor who famously bet against mortgage securities before the 2008 financial crisis, has taken to Twitter with a controversial message: lockdowns intended to contain the coronavirus pandemic are worse than the disease itself...
“Universal stay-at-home is the most devastating economic force in modern history,” Burry wrote in an email to Bloomberg News. “And it is man-made. It very suddenly reverses the gains of underprivileged groups, kills and creates drug addicts, beats and terrorizes women and children in violent now-jobless households, and more. It bleeds deep anguish and suicide.”

Dr. Burry tells Bloomberg that he would “lift stay-at-home orders except for known risk groups. We already know certain conditions that are predictive of severe disease. Especially since young healthy lungs tend to be resistant, I would let the virus circulate in the population that is not likely to get severe disease from it. This is the only path that comes close to balancing the needs of all groups.”

You'd never make it as a state employee. Especially in vital organizations such as the Dept of Health or Fish & Wildlife.

RaceBannon

So


I was right

GrundleStiltzkin

RaceBannon said:

So


I was right

Thanks for the fuller piece, Race.
https://fortune.com/2020/04/07/big-short-michael-burry-subprime-mortgage-coronavirus-lockdowns/

“This is a new form of coronavirus that emanated from a country, China, that unfortunately covered it up. That was the original sin. It transmits very easily, and within the first month it was likely all over the world. Very poor testing infrastructure created an information vacuum as cases ramped, ventilator shortages were projected. Politicians panicked and media filled the space with their own ignorance and greed. It was a toxic mix that led to the shutdown of the U.S., and hence much of the world economy.”

Kaepsknee

But we're all in this together!!!!!!!

PurpleThrobber

salemcoog said:

But we're all in this together!!!!!!!

Fuck that. The Throbber takes care of his own business.

You know what I mean?

brb, yo.

MikeDamone

GrundleStiltzkin said:

The Big Virus Short

A hedge fund manager who predicted the mortgage meltdown—and was later portrayed by Christian Bale in “The Big Short”—says virus countermeasures imposed by governments are leading to economic destruction and death.

Reed Stevenson reports for Bloomberg:

Michael Burry, the doctor-turned-investor who famously bet against mortgage securities before the 2008 financial crisis, has taken to Twitter with a controversial message: lockdowns intended to contain the coronavirus pandemic are worse than the disease itself...
“Universal stay-at-home is the most devastating economic force in modern history,” Burry wrote in an email to Bloomberg News. “And it is man-made. It very suddenly reverses the gains of underprivileged groups, kills and creates drug addicts, beats and terrorizes women and children in violent now-jobless households, and more. It bleeds deep anguish and suicide.”

Dr. Burry tells Bloomberg that he would “lift stay-at-home orders except for known risk groups. We already know certain conditions that are predictive of severe disease. Especially since young healthy lungs tend to be resistant, I would let the virus circulate in the population that is not likely to get severe disease from it. This is the only path that comes close to balancing the needs of all groups.”

Why does he think it’s a joke?

I was right.

MikeDamone

salemcoog said:

But we're all in this together!!!!!!!

We had another grim milestone today