Everybody said to give up shorting in early 20, 21.

You had the meme craze. Nobody wanted to be short because if you hit the peak, all people were doing was looking to see, well, what are people short and just by that?

You had things that were obviously in the headlines of the newspapers, but you also had lots of things where they're just a bunch of people short that went up 20 or 30 or 40%.

It didn't make it into the newspaper the same way, and people were just hunting for short

interest.

Welcome to the Money Maze podcast. I'm Simon Brewer, and Will Campion and I have created this

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Thank you for listening. Oscar Wilde defined a cynic as somebody who knew the price of everything and the value of

nothing. And I wonder in the tsunami of passive investing whether in fact it's created a feast

for the diligent value hunters. Feast or famine. I don't know. But that's actually a really good

quote because I don't think it describes

the value investors, but I think it describes the vast majority of market participants. First of all,

thank you guys for having me. I was flattered to get the invitation. And I was a little startled

to realize that there's still value investors left.

There you are. This is really, really wonderful. I was glad we're not at the Natural History

Museum or something with the dinosaurs. I've made the comment before that the value investing

industry has had irreparable damage. It's unlikely to recover in a material way. But the corollary of that is that

value investing for those that remain, I think is an extraordinarily exciting time.

The key is to recognize how the landscape has changed and not continue trying to do things the old way

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