Gurley notes SVB stock traded at $260 on March 8, arguing Wall Street misjudged risk too.
“So on March 8, the stock was trading at $260 a share. So there are people that want to put this on risk taking in Silicon Valley, but Wall Street got it wrong too.”
Gurley says he learned waiting solves many problems, citing Silicon Valley Bank weekend as example.
“And I used I I I used to go deep in them, and this weekend was a perfect example, and there's a good transition to Silicon Valley Bank.”
Gurley says many people acted manically during SVB crisis weekend but problems resolved by morning.
“But a lot of people did a lot of crazy manic things this weekend that didn't matter. Yeah. Because it all got solved this morning.”