What's the Difference Between Michael Burry and Alexander Fordyce? (AIER)
Burry could finance his mistake, his “earliness,” for long enough to be vindicated by market prices. Fordyce could not. Even though they were both right on paper about future market trends, only one of them is celebrated as a genius forecaster; the other one is relegated to the financial dustbin of countless failed speculators. The difference between them was not one of foresight, but largely chance; events unraveled within the time period in which Burry could finance his Big Short.