Arlington Value Wishes For “Moody” Market Volatility, Gets It One Day LaterMark Melin
As the 2018 volatility crash was approaching, Arlington Value Capital’s Allan Mecham was deriding the “docile markets” and in fact was hoping Mr. Market would get “moody.” After delivering investors a gross of 21.7% in 2017, slightly under the S&P 500s 21.8%, Mecham got what he wanted. As he was distributing the letter to investors, the stock market gave Mecham his wish, getting moody by losing nearly 10% over a short period. With a large cash balance, Mecham had the dry powder, but it is unclear if he bought the dip.
Also see is Mecham the next Buffett?
“The only haven for action junkies was Bitcoin,” Mecham wrote in a January 29 letter to investors reviewed by ValueWalk.
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