If Tiger Global goes out of business, everyone is going out of business. The once $95b hedge fund that does not hedge but goes long lunatic tech stocks only reported a loss of 15% in March ($17b), like morons. YTD, their STACKED LOSSES are 44%, representing 2/3rds of ALL OF THEIR GAINS dating back to 2001.
Let me clarify.
The last 4 months of trading caused the gurus running Tiger to allow the market to abscond with 66% of 21 years of capital gains. DARE I SAY ‘GOING OUT OF BUSINESS SOON?’
Judging by today’s action, once again a fierce reversal and plunge, we have liquidations taking place en masse. I would not be surprised to see the likes of Chase Coleman III on the soup line over the next 3 months, as clients withdraw funds and those businesses and their losses become so obscene, it would BEHOOVE them to continue it any longer.
I have been 100% cash since 9:35am, +48bps for session.
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