Authored by John Tammy via RealClear Wire,
John Paulsen made his name and immense fortune with a well-timed purchase of securities that would soar if mortgages declined. His billions hopefully remind readers that huge fortunes are made not by doing as other investors are doing, but by doing what they’re not.
It’s something to think about with Silicon Valley Bank’s (SVB) decline well in mind. Left and Right are claiming “regulatory failure” as one of the causes. We’ve seen this in Sebastian Mallaby’s analysis at the left-leaning Washington Post, but also from right-of-center thinkers like AEI’s Paul Kupiec and Hoover’s John Cochrane. Paulsen’s billions reject this analysis.
Figure that those capable of seeing around the proverbial corner can earn billions for possessing such vision. The previous truth raises obvious questions about “regulatory failure.” Really, why would regulators be
Keep reading this article on Zero Hedge - Blog.