Via John Hempton in his latest Bronte Capital client letter:
In these months some fund managers we admire have had solid double-digit returns. Also, some fund managers we think are gunslingers destined to drop 80 percent or more have had double digit returns (with triple-digit returns a possibility). This–despite what the averages say–is an aggressive melt-up market.
The real economy is awful at the moment (COVID), but the financial economy is setting bullish records.
