Worth a reminder: the "GOP's chief debt ceiling negotiator" is holding a short position on U.S. Treasury Bonds. A short position means that the mutual fund which holds his investment is betting that the price will go down (which would happen in a default).
"UltraShort ProShares should lose money when their benchmark indexes rise—a result that is opposite from traditional ETFs." The index is down from 41.38 (Feb) to 31.91 (July).
Betting against the house: that's what many on WS were doing when they were urging others to buy-buy-buy just before the crash. Just saying.
This feels wrong to me, even though the dollar amounts are, in the context of this millionaire's assets, minor.
(minor in the overall scheme of his net worth)