In my younger years a story like this would’ve infuriated me — big sloppy fat cat hedge funders making a mockery of “the market” — messing it up for the rest of us. But now with seasoning on me and a lot more knowledge, I can tell you without equivocation that the events of Archegos aren’t outliers — but the very thing and behavior that drives Wall Street in the first place. People are so upset when they read about a new scandal. They huff and puff and blow their own homes down. You enjoyed Softbank’s gamma squeeze when it happened because you were long stocks. You enjoyed the Fed rigging of the markets, even taking short position on the VIX; but now you don’t like this because “OMG HE USED 500% LEVERAGE.”
Wake the fuck up pal. You’re on the outside looking in. The retail clown trader and his GME squeezes only worked because some fuck head on Wall Street decided to help. The big money is bigger than ever and they can do whatever the fuck they want.
Case in point.
I have long since accepted this is just the way things work around here and no longer threaten to storm the capitol with pitched forks anymore, for the great many injustices committed in front of me and how the double standards are emblazoned into my face without shame. It’s not a personal affront upon my person, but how the system of entitlement works.
You don’t like it? Make a billion dollars of personal wealth, call Goldman and ask for 500% leverage, and lose $110b for your Family Office in 5 days — just like Archegos — and then tell me how entitled you feeeeel.If you enjoy the content at iBankCoin, please follow us on Twitter