Hearing through the grapevine pods are getting torched this month have seen some PMs get cut and degrossing start to occur. Should be expected given equity vol / rate vol but given the proliferation of pods could this get nasty? We have gotten the headlines about Schonefeld needing cash and it looks like Bally’s equity biz is taking it on the chin (head of equity unit left a few weeks back due to crappy performance) - maybe just a product of equity markets being worse but something to watch given the growth in the pods
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Sounds right, it feels a bit like August deja vu albeit not quite as bad.
If you think pods are doing poorly you should talk to the cubs and growth investors.
But I r thought cub itz a dream levrd tech bruh
Nothing makes me happier than seeing the cubs getting analed by this market.
I had a pretty sweet month so idk
interested to hear more takes on this thread
Fake news. Just because 2 pods in your sector are shutting down this month means nothing, it's normal course of business. Between the big 4-5 MMs, there must be near 1,000 pods across different asset classes globally, to put things in perspective.
This month is quiet compared to say March 2020.
Not for equities, some MMs are def struggling this year. The biz model isn’t as easy as it was 5y ago.
I was responding to October as per the title, but if you want to discuss a broader topic, we can open a different discussion.
Lot of degrossing into YE, something like 50-60% of public equity investors now have October YE and fears over ME escalation, deteriorating global macro, etc. LO aren’t going to try and make their year if they didn’t catch NVDA earlier this year so they and pods that made some money are content to take risk down and wait. You’re seeing it with these prints - legit good prints maybe get a little extra bump but average prints are sold and any misses are absolutely hammered (see F, ENPH, CVX, etc. yesterday alone).
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