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Importance of keeping dry powder; preparing for potential downside before market recovery.

From Michael Burry Is Getting Squeezed — And He Just Doubled Down · jumps to 12:53 · speech

▶ Open at 12:53 on YouTube
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And um that's fine. What you don't want to do is blow your entire load here, and then if we do make another low, you end up puking, right? You want to be prepared for potential downside. If there is another leg lower, I think you want to be prepared for that. If you are already accumulating, at the very least, you should have some dry powder. You So, you can buy lower, and so you also don't end up puking this, being like, oh [ __ ] it went down, we're [ __ ] and then you end up puking at the bottom. And if you plan on buying down here, you have to be prepared that there might not be another down leg. And if that's the case, you need to have some accumulation occur here, and then of course be ready for when the market structure shift does occur to buy the rest. So, just have a plan.
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