At 78, Investor Preps for ‘Biggest Bear Market in My Life’
- David Wright’s fund saw only small losses in 2008, 2020 routs
- It’s mostly in cash and sold U.S. stocks, which are sinking
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David Wright knows a thing or two about bear markets.
His Sierra Tactical All Asset Fund barely lost anything in 2008 as the global financial crisis caused the worst market panic since the Great Depression. Its loss during the Covid rout of 2020 was also relatively small. Wright, who is based in Santa Monica, California, says another private fund he runs didn’t lose a penny when the dot-com bubble burst two decades ago.