Will artificial intelligence repeat the Internet model of 2000? Rafal Zaorski is betting on this, admitting that he is betting that the market bubble will burst by more than 50 million zlotys.
Rafal Zaorski, one of the most famous investors and stock speculators in Poland, recently surprised with an unusual offer. He admitted that he had put up for sale his apartment in a Warsaw apartment building at Złota 44. The apartment was located in a prestigious location where he, in particular, had bought property. Robert Lewandowski or Kuba Blaszczykowski will enter the market for more than 50 million zlotys.
An apartment worth more than PLN 120,000. zlotys from the metro. There are traders
Rafal Zaorski, also known for his BigShortBets project, admitted in an interview with Money.pl that the price of apartments depends mainly on two factors. Firstly, this is a prestigious place (one of the best in Warsaw), and secondly, it is… generally possible to buy it.
“When this apartment is sold, it will probably soon be possible to buy it on the market, just as there are no other apartments on the upper floors of skyscrapers in the center of Warsaw. The 504 has the best view of all because it covers 270 degrees and the view covers the entire length of the Warsaw Vistula. In addition, number 504 was also promoted as a brand. The funny thing is that my offer is still attractive. Prices for such floors in Warsaw range from 110,000 to even 127,000 zlotys. zlotys per meter – we read in an interview for Money.pl.
“But I think someday it will be worth 100 million. Either inflation or Poland’s growing position will do this, because I keep betting that the “Polish side” and whatever crazy people are running us, everything will be fine in this geopolitical situation. You can see it in a penny” – Zaorsky added and admitted that he had several people who wanted to buy directly, and some more were brought to him by real estate agencies. The deal is expected to be concluded in January 2024.
Artificial Intelligence is a Bubble
The typical investor already knows what he will do with the funds he will receive from the sale of a prestigious premises that has become a showcase not only for him, but also for BigShortBets. Zaorsky believes that the current market situation related to the development of artificial intelligence is reminiscent of the Internet bubble of 1999-2000.
Rafał Zaorski, known for his spectacular shorts—that is, bets on companies’ stock prices falling quickly—argues that the current investor enthusiasm for artificial intelligence could lead to big corrections that could make good money.
“I have several projects. I believe that the boom that occurred in Internet companies in 1999 will repeat itself and many assets will be overvalued. I’m looking at a few smaller players because I don’t think these big flagship projects have the same growth potential anymore. However, there will be many companies, just like in the 1990s, that added the WWW tag and increased their value several times. I think there is a chance that this could happen in the US and Europe. On the other hand, I am also preparing for the fact that after the valuation of these assets increases, a correction will occur, and a significant one. That’s what I’m betting on. I also have shorts on luxury items because they complement each other.”– said Rafal Zaorski.
I am George Brown, author at Daily News Hack. I mostly cover economy news and I have been doing this for quite some time now. I have a lot of experience in this field and I’m always looking for new opportunities to learn more.