The short-selling maven was only too happy to step away from the "stressful, nerve-wracking" business of shorting stocks five years ago and watch the idiots try to "print our way to prosperity" while sitting around and spending his millions. But you have trolled him long enough! No man such as himself could sit around and allow the opportunity you've created go untapped, even if it means taking some matters into his own hands for the next couple of years.
Seattle-based Bill Fleckenstein of Fleckenstein Capital, who shut down his profitable short-only fund in early 2009, plans to start another short-only stock fund early next year….
“I want to wait until I can have it be more like shooting fish in a barrel, which doesn’t happen very often–but it happens,” Mr. Fleckenstein said in an interview. “It happened in early 2000 after the stock bubble burst, it happened in ’07, and it’ll happen again….”
“We’re now starting to see really stupid valuations on businesses that may or may not really be businesses,” Mr. Fleckenstein said, referring to valuations on companies like Twitter, “and people are forgetting the fact that the lower cost of money has powered segments of the economy that has given us an appearance of things being better than they are….”
This is Mr. Fleckenstein’s last hurrah. “This is going to be my last, quote-unquote, campaign,” he said. As for his wife, he said she was “remarkably subdued” when he told her his plans.
Fleckenstein Sees 'Really Stupid Valuations,' Launches New Short Fund [WSJ MoneyBeat blog]