Ignore my title (stale). Anyone here cover payments? Space feels very tough lately with heightened vol, seeing outsized moves everywhere. I'm relatively new to the space but is this how it's always been? is this due to crowding driven by "peak pods", or something else going on? are people making money this year?
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It is a bloodbath
Why is this? I’ve heard because the space is filled with businesses that are generally not very good quality, institutional ownership from medium and long term guys is low, and literally all the flows are driven by fast money.
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