by lolfunctionspace
Capital requirements were 12-20%, call it 15% on average so could have been 5-6x leveraged with a small cushion. Something like 20b in capital – 80b longs and 40b shorts. Tech / growth tech vs a lot of s&p on short side.
2/
— Jeff Davies, the Energy OG (@EnergyCredit1) March 28, 2021
Was $2billion-plus blocks in some names offered Friday. Not sure I recall seeing anything like this. Guess he owned 5% of a lot of large cap tech.
Story of leverage, risk mgmt, correlations gone awry.
**could hurt couple banks earnings**
End/
— Jeff Davies, the Energy OG (@EnergyCredit1) March 28, 2021
And all his positions stocks hit hard yesterday. Bill started trading with his own money ~$200m after leaving Tiger Asia on 2012 and grew it to 15b before being completely wiped out (he traded Julian Roberson’s money in between and made 16m into 8b in 7yrs)
What a life.
— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) March 27, 2021
Tbh Bill is a pure legendary degn
rarely will see someone like his size is still on such high lev without hedge reminds me of @AWice once said “linear wealth, not compounding wealth”
He will make it back I’m sure
— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) March 27, 2021
many of the big cap Chinese tech stock IR went nuts last few days, trying to figure out what happened.
As these stocks are pretty solid fundamental buys of most firms and turned out the damage was done by one big degen 🤣
— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) March 27, 2021
