Whitney Tilson: “There have been, I would say once every 10 years a big…”

“And 20 years ago you were an active investor running a couple of mutual funds and hedge funds. 8 out of 10 years. Historically the market goes up. The natural state of affairs is a bull market. There have been, I would say once every 10 years a big obvious bubble that can really shake the market and knock the S And P down 50% come along. And I'm not including. Nobody really could have predicted the COVID crash. That was a black swan event, a six week decline and then just as quickly recovered from that.” (14:50–15:00)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.