Former Subprime Player Claims He Can Now Short the Mortgage Market for Climate and Covid Risks
CNBC, Nov. 23, 2020–Diana Olick
During the mortgage bubble in the early 2000s, when investors were feverishly trading faulty subprime bonds, a few savvy skeptics recognized the bonds were doomed, so they bet against them. They shorted the bonds and made billions. Now Dave Burt is doing the same thing, but not on subprime. He’s doing it based on the risks to the housing market from climate change and the coronavirus pandemic.