I am amazing. I am fantastic. I am really tremendous. I am bigly BIG LEAGUE and I know better than anyone . . . believe me
(no bot, just a private citizen)
A Trump quote for the ages: “You ever notice they always call the other side 'the elite.' The elite! Why are they elite? I have a much better apartment than they do. I’m smarter than they are. I’m richer than they are. I became president and they didn’t.”
Citadel is not the bad guy in this story.
When you are investing billions and make 20x returns in 2 years, you attract the notice of all the hedge funds. It was obvious to everyone that Leopold had to be using excessive leverage to get those returns.
Taking out a player who doesn't have enough liquidity to cover leverage and manage a downturn is so common on Wall Street, it's one of their basic tools to enhance their own returns.
No, the person who should be blamed for Leopold's implosion is Leopold himself.
Hedge funds do use *some* leverage themselves, but boy do they analyze the snot out of those positions to ensure what happened to Leopold doesn't happen to them. Leopold either didn't do that basic analysis or got it comically wrong.
Players like Citadel actually *help* the market by taking out the yahoos who end up causing excessive market volatility through leverage. If you know you could get pounced on by the likes of Citadel, then you won't put yourself in a position to be pounced on and thus won't cause undue market volatility.
@adamscochran June 14th? (vs. July 14th)…
But can’t someone get info from the hospital?!?! Even from an aid or janitor about the security protocols, etc.
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@AndrewBrandt Standard practice in UEFA… and no gratuitous “hydration” breaks either!! All of which makes the average regular season football match almost exactly two hours with few exceptions
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