49:43—50:41· 58s
4
Mik“Yeah. So I was just going to double-click on what you're saying, Sidi, you know, in terms of timing. Right? In terms of timing, what, like, how do you think about it? How do you process it? You know, you've shared very publicly, this is one of the things I appreciate, you shared very publicly about the Capricorn situation. I think you were more or less right on the trade, but wrong on the time there. So I guess given everything you've just shared with us about your Moderna thesis, how do you grapple with that as, you know, you're managing your portfolio? Well, Seedy19it's been hard and I've been very transparent. I post my, you know, returns publicly. I post my short positions publicly. I'm down— I hate to admit this, but I'm down 60% from highs this year. And, you know, I'm going through one of the largest drawdowns I have ever. But I guess, you know, when you swing that big, you're going to make these swings. I would have preferred not to, and I would have preferred to get my timing and my sizing and my risk management better.”