Archive.is gives server error on the wsj url.
TLDR: Musk fans bet that DOGE would cut government spending so the guy bet against them. He ended up betting around $342K (his liquid assets, not what most of us would call life savings) and hedged some of it later. Eventual result was he gained $128K.
> The WSJ report noted that Cole sought advice from other fiscal policy wonks, including Brookings Institution fellow Jessica Riedl, who said the outcome of the bet “should have been completely obvious to anyone who knows anything about the government, the budget and public administration.”
This guy made a very calculated low risk wager for pretty great near-term rewards. He outperformed most hedge funds over the same period.
If he had gone all in on ‘black’ twice at a Vegas roulette wheel it’d be a more impressive total, but that’s gambling.
PS: After reading the article, is assertion is a bit stronger then that, but still very likely. Good bet.
He gambled $300K from his extra savings outside his retirement accounts, and he hedged significantly to reduce downside risk.
For all the sloganeering, Democratic administrations have better fiscal responsibility about deficit spending
It's amazing how Reagan-era propaganda still sticks despite all evidence