Based on my understanding, the manager has done nothing wrong. Short is a protection under current circumstance. And I do not believe a V shape recovery as well. Do you remember 3months before everybody believe we are in a bull market and the short positions of VG1 was waste opportunities. Time will tell.
I have several friends who run businesses, they know the pain of economic shut down. Once it has been shut down it will take a long time to recover. Currently China has been back to work for a month, but local consumer still afraid to go to shopping center or restaurants. Even during Chinese “golden holiday week” which starts the 1st of May. The consumption is still behind.
Short is a protection, which I wanna pay to protect my wealth.
VG1 Price at posting:
$2.07 Sentiment: Buy Disclosure: Held
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