RT @/chumba If you have a small pool of capital and insist on making it in public markets IMO you should be trying to find things that nobody else is talking about. Weird pockets of the market. Or things that are deeply hated where you have a variant view with conviction. Niche securities that provide you with non recourse leverage. Over leveraged balance sheets where the equity value can change with small moves in enterprise value, and then figure out if the company survives, and buy non recourse leverage on that equity. Companies that have some ick associated with them where mass psychology has caused a mispricing. ---- the most money in markets is made in finding opportunities right before they become consensus longs, or in identifying the shift from non-consensus to consensus as it is happening and riding momentum
