FAST FIVE: David Einhorn: "This Is An Enormous Tech Bubble" And It Popped On September 2, 2020

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Our working hypothesis, which might be disproven, is that September 2, 2020 was the top and the bubble has already popped.

We have adjusted our short book accordingly including adding a fresh bubble basket of mostly second-tier companies and recent IPOs trading at remarkable valuations So without further ado, below we excerpt his key thoughts on the biggest asset bubble that the Fed has inflated: * * * We are now in the midst of an enormous tech bubble.

Four years later, there is a consensus that we are in a bubble.

Had it peaked at 3,500, it would be easier to argue that this bubble has surpassed that one.

Is a bubble only dangerous when it has exceeded the prior one on every metric.

Categories: ZH