COHEN'S POINT72 LOSES 10-15% AMID HEDGE FUND LOSSES THIS MONTH
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Confirmed by Bloomberg, D1 Capital is also down 20% YTD... any info on the other MMs?
D1’s loss is larger than what has been reported to Bloomberg this afternoon
Jeez, assuming mostly from GME?
Maplelane down 33% per Bloomberg.
Rumors Melvin down 70, Most long shorts down 20-30 and are still de-levering, and nobody is talking. We aren’t done yet, curious to see where these ends.
Have any idea in terms of Citadel, BAM, or Millennium? Similar losses to P72 or less?
Wow Melvin down 70? Whatever sliver of hope they had of recovering with the bailout is gone if that’s true. They might as well just throw in the towel and shut down
Hard not to be down 70% when Wallstbets specifically targeting their top shorts - which seems to include GME and FIZZ
What I don't get is...why didn't they close out their short when GME started picking up momentum, say when it ran up to $50+? I thought all these HFs closely tracked WSB sentiment?
Arrogance
For the same reason you didn't buy at 50 because you thought the stock going from 10 to 50 is enough and can only go back down.
Source? That's huge if true
Anyone have any perspective on how quants are doing right now? For the sake of my industry hoping most short positions got closed when borrowing costs got too high to justify trades.
I can imagine Robinhood and Citadel are making insane money on this volume
For Robinhood this will likely be a long term negative. Yeah they are making money from the order flow, but the drop in users heavily offsets that. People are rightly upset
Curious whether any funds out there went long GME throughout all this
Micheal burry and Ryan Cohen made billions on GameStop.
Sorry, aside from those two. I meant WS firms, like how Loeb & Icahn went long HLF after Ackman's short presentation. Volume seems to suggest some big players on the long side. Guess we'll find out when more performance numbers start leaking
guess the smartest can't stop an army of robinhooders with $600 checks
This whole thing is actually hilarious.
can I get a f in the chat for Melvin
Hilarious given how hard everyone on this board shills levered long short. These guys all got hosed by some internet bros because they crowd into similar positions and lever up and had to unwind like crazy yesterday to avoid getting btfo.
bad for LPs, great for partners/employees at the firm
your downside is limited to fund blowing up/fired as an employee, but your upside is great in those 80% return years
no contradiction here - as long as you dont muddle concepts of personal incentives with others
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