The "legendary" investor sold 53% of his holdings as the metal enters a "bear" market.
sure...another retail clown acting big time because of 1 BIG bet made 5 years ago. That is it. It is all BS.
There are really just two guys to learn from, Icahn and Buffet. Everybody else seems to be faking it.
They have 1 good year, become rich f'rs from one or two years of solid performance and never match that performance again. MAybe Tepper though I don't know much about him.
But everyone else, big bets with OPM that win. Funny, you never hear about 99 out of 100 that used OPM and never made it. You don't hear about the large numbers of hedge funds that have closed up shop over the last decade.
CNBC makes sure to constantly report every WORTHLESS number, be it government fabricated or their own made up polls, but NEVER talk about the joke that is the hedge fund industry.
You know why you know Ackman's name, Icahn's name, Tepper's name, and a handful of others and nobody else? Because the others don't really exist. They don't outperform the market any better than an index fund does nor do most of them actually even MATCH the market.
The market misprices stocks ALL THE TIME because the market(the players holding positions) are generally not as smart as they think they are. They routinely, like every other retail investor, overpay for companies, and overlook undervalued ones.
As my favorite comedian Bill Burr says about religious white dudes in church "He ain't nothing special. he didn't levitate down from the sky. He is making the $$$$ up(the priest)"
"His name is cliff, he grew up in queens, got his $$$ kicked at soccer practice, and now he is doing this".
That can sum anybody and everybody in every high postion. Nobody is special. The scoreboard does the talking and most of these guys who call themselves professionals have not made a penny, just a nice salary from managing OPM. It is a fraud industry and which is why you see it full of insider trading.