Reply With QuoteThat's the nature of the game. When offered a block, you ask if that is the full amount. Then you price your bid accordingly. Then you own it.Originally Posted by demonloop
C'est la vie - don't like it, don't play it.
They really shoulda known better with Goldmans, you gotta count your fillings after a meeting with those guys, not for nothing aka the Vampire Squid, goniffs.
That's the nature of the game. When offered a block, you ask if that is the full amount. Then you price your bid accordingly. Then you own it.
C'est la vie - don't like it, don't play it.
Someone who lies about the little things will lie about the big things too.
Selling something you know to be dog$hit to a bigger fool than you, in order for him to sell on to a bigger fool than him reminds me of a certain theory you levelled at bitcoin.
I concede, though, that if you play the game you must accept the consequences. No one forces you to play.
Totally agree, if you lap up the profits, suffer the losses and don't ruin your dignity by bleating.
Why was it dogshit? Many of the blocks sold are in profit for the buyers.
Brokers don't take a view on equities, they just facilitate trades. The parties that are buying/selling need to do the research.
Someone who lies about the little things will lie about the big things too.
Is it really fair and accurate to say of this situation that the banks were simply uninterested brokers in the transaction? How come they lost so much bloody money then?
Do I really need to explain?
It's the same principle as with a house buyer who takes a mortgage. When the value of the house falls below the outstanding debt associated with the mortgage, the bank asks you to bring more cash. If you don't have cash, the bank will take possession of the house and sell it on the market. If you are in the market to buy a house, do you think that all houses coming up for sale due to foreclosure are dogshit? Does the bank sell dogshit?
Now replace the house with an equity portfolio and the mortgage with a lombard loan. Same thing.
Why did the banks lose money? Because the value of the equity wasn't enough to cover for the value of the loan. It's called a collateral shortfall.
Someone who lies about the little things will lie about the big things too.
No you don't need to explain (it was rhetorical) but I suppose I thought you might consider how that collateral shortfall gives them some interest in the deal rather than just being unbiased facilitators of it.
Sure they are interested to get the best price possible as they know that the difference is their loss. That doesn't make the shares dogshit.
It's the same as when you sell a position from your portfolio: you want out. Somebody else is a willing buyer. Simple.
Someone who lies about the little things will lie about the big things too.
Ok maybe dogshit wasnt entirely fair, but they knew what they were selling was likely to be worth a lot less in a very short space of time, when the rest of the positions hit the market.
Unless you know different? The initial blocks that GS sold, are they now in profit?
Brings us back to my original question yesterday (which you slapped me for asking).......why do the people wanting their money back allow the shares to be dumped at low and lower prices, instead of taking the debt on and selling into the market slowly in order to maintain a higher sale price.
"Lombard" have got their loan debt recovered with a chunk of equities which have a value, why then flog the equity cheap when they could be a bit more patient and sell it for more. (And not crash the market so badly)
I guess it is the same question I ask when a bank repossess a home. Why do they just offload them to some lowballing company, rather than paying an agent to sell it for 25% more? I've never understood that one.
Last edited by mr noble; 30th March 2021 at 14:22.
I don't know which positions are in profit, but most (all?) of the equities in question are quite a bit higher than the lows on Friday. Any buyer was a willing buyer and they certainly knew there was more coming to the market - that's just standard disclosure with block trades. Stuff happens, sometimes you buy something and it's lower the next day. Is that the fault of the seller?
That's how it goes. People buy block trades because they can buy them below the actual price on the stock exchange. All of the buyers were institutional and knew exactly what they were doing.
The answer is the same today as yesterday: because banks are not allowed to keep equity positions on their balance sheet.
Besides that, never ever own a position just because you 'inherited' it. If you didn't buy it for a good reason, don't own it. Never. Ever.
Someone who lies about the little things will lie about the big things too.
Good answer. :-)
Someone who lies about the little things will lie about the big things too.
Meantime, TZLA traded as low as $591 and then bounced hard to $610. The $600 level is crucially important, if it closes below it will have violated the long-term uptrend - and there isn't much support below until mid $400s.
I am confidently waiting until it fails the $600.
Someone who lies about the little things will lie about the big things too.
Wow, shot all the way to $633 - there went the fat profit from my put options.
It'll go down eventually....
**massive buying of $620-$700 calls expiring the day after tomorrow. Very fishy, again trying to save it from falling below $600. **
Last edited by Raffe; 30th March 2021 at 17:54.
Someone who lies about the little things will lie about the big things too.
Regulators examine banks actions during Archegos fire sale
https://on.ft.com/3doqvuV
Looks like GS went to the meeting, listened to what 4 of the 6 banks had agreed to do and then pre-empted it by dumping everything. Exactly what you'd expect of GS. Insert surprised Pikachu meme here.
A few hours ago you were of the opinion that banks were committing "collusion", now you say that Goldman is the culprit for not committing to collusion?
The article you are quoting clearly says that Goldman didn't commit to anything.
Do you always need somebody to put the blame on?
Someone who lies about the little things will lie about the big things too.
By happy coincidence the BBC have a sexed up version currently available on iPlayer. (Only 6 days left though.)
Oooo, good shout. Downloading to my Sky box now.
Another crazy day for TIGR. 13% swing from low to high points.
I took a punt and bought a chunk at $13.05 which wasn't far off the low, as it tuned out. Hopefully it'll be up, up and away from here.
No idea why it's been so volatile this last few days if it wasn't one of the Archegos stocks....??
Guilt by association maybe?
Sent from my SM-G973F using Tapatalk
Best guess, yes. Couldn't find any hint that TIGR was in his portfolio.
Someone who lies about the little things will lie about the big things too.
There is a lot of resistance at $13.
Twice in the last couple of days its bounced off $13.
Must be the point at which it becomes a bargain buy.
Massive gamma squeeze in Tesla. I have no idea who is playing these games, but this should be looked into. This happened a couple of weeks ago and again yesterday.Wow, shot all the way to $633 - there went the fat profit from my put options.
It'll go down eventually....
**massive buying of $620-$700 calls expiring the day after tomorrow. Very fishy, again trying to save it from falling below $600. **
https://twitter.com/GordonJohnson19/...06771932381187
Someone who lies about the little things will lie about the big things too.
No need to stay up all night waiting to catch those Elon Musk Tweets. Build a bot to do it for you.
Great stuff Pete, as always.
Someone who lies about the little things will lie about the big things too.
Deliveroo, what a mess. Priced at 390, currently trading at 275. Looks like Goldman will be busy trying to stabilise this stock for a while.
FT didn't hold back on Deliveroo.
Well, thats awkward.
Deliveroo, the UKs very own labour arbitrage business, has listed on the London Stock Exchange this morning. Its debut was framed as a triumphant moment for tech stocks in London by some, with retail investors encouraged by Deliveroos app to get in on the action before the envitable IPO pop.
Well, it hasnt quite worked out that way.
At pixel time, Deliveroos shares are trading at 302p -- 23 per cent below the 390p price it listed at just 27 minutes ago, according to Refinitiv data. It was down at one point almost a third. Ouch.
Look on the bright side though, at least those customers who purchased shares will now know what it feels like to lose money from what seemed like a sure-fire money maker, just like its riders.
Are you telling me that stiffing your clients and employees is no longer good enough as business model?
Somebody better tell Elon.
Someone who lies about the little things will lie about the big things too.
Brilliant!
Good.
You need better glasses, Raffe. I don't know enough to know whether it was collusion or not, that's why I asked.
And next time he tweets that BTC is negative in someway e.g. "BTC is Dead, long live #@%" causing it to plummet the bot still buys.
The Peter Schiff contra bot would work better.
If you checkout the second part of the article you will find that the author has already acknowledged this point and demonstrated an approach on how to address it.
Any others holding any CGRO and waiting to see what happens post merger?
I cannot vote (hold via trading 212) so I guess I am part of the problem for getting the merger done.
Last edited by ernestrome; 31st March 2021 at 16:34.
Watched this last night, thoroughly enjoyed it, ruthless business. Be first, cleverest or cheat.
TIGR nearly 20% up today. Amazingly volatile stock. Moreso than Bitcoin!
Last edited by mr noble; 31st March 2021 at 17:14.
Well done, Was tempted to buy yesterday's dip, but then didn't.
Am just buying $600 TSLA puts for the same money as I sold my $500 puts yesterday. Crazy world.
Someone who lies about the little things will lie about the big things too.
Some noise that HMG will levy a 5% additional PAYE tax on people who work from home. May mean a dabble into the commercial real estate sector could be worth a punt?
Sent from my SM-G950F using Tapatalk
Annoyingly, having heeded your advice about making large binary bets, the cash I put on TIGR yesterday was the smallest amount Ive punted on a stock pick in months. Still, happy to be 28% up currently.
Tell you what TSLA has wrecked what was a decent week otherwise
Tell you what TSLA has wrecked what was a decent week otherwise
Someone who lies about the little things will lie about the big things too.
Hiya Ryan
If only you had posted this a few hours later - April fool !
Best Neil
Actually sadly this isn't a joke and my source has told me it is happening although the % and also what constitutes WFH is open to debate
The year is 2110. Gareth and Katie, 2 twelve year old kids are playing in the forest when they happen upon an old abandoned manor house.
'Let's go in!' exclaimed Katie.
'No!' said Gareth. 'No! No! No! That's the old Raffe place. I hear it's haunted'.
'Pah!' said Katie. 'No such thing as ghosts'.
'Not true' replied Gareth. 'They say on some nights, when the moon is full, you can hear an ethereal voice wailing; 'Tttteeeessssslllllaaaaaa. Gooooiiinnnnggggg dooooooowwwwwnnnnnnn'.
'Tesla?' said Katie. 'You mean like Overlord Elon, Master of all the Universe. The man who made a new sun for everyone in the Galaxy?'
'The very same' said Gareth. 'The very same'.
A 100 quid charity bet where TZLA will be in six months? You can chose if you want to call the level or trade on it.
Someone who lies about the little things will lie about the big things too.
Hiya Ryan
I would have thought they would welcome the wider eco-friendly impact of WFH ? I can only guess that continued WFH impact to all the fringe business that exists due to Office workers is a possible reason.
Not sure why that means PAYE should rise though. Perhaps I should go on the dole
Take care -
Best Neil
Won't happen.
Posting Permissions
