Re:GameStop Is Happening Again
by toomuchtodo on Thursday February 25, 2021 @01:50PM
(#26266553)
Do you have a citation you can offer up with more solid loss numbers? It looks like Melvin alone has lost at least $4.5 billion dollars on the GME short trade, and Citadel/Point72 provided ~$2.75 billion in capital to Melvin.
https://www.reuters.com/article/us-retail-trading-melvin/mel...
Re:GameStop Is Happening Again
by fractionalhare on Thursday February 25, 2021 @01:58PM
(#26266662)
That is the citation. The person in that clip is speculating about Melvin's losses in particular.
Re:GameStop Is Happening Again
by toomuchtodo on Friday February 26, 2021 @10:46PM
(#26282411)
Came across a citation that aligns closer to the $16.8B number quoted on the video citation I provide further upthread.
https://www.cnbc.com/2021/01/29/gamestop-short-sellers-are-s...
> Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer GameStop, according to data from S3 Partners.
Doesn't attribute losses to specific firms, but the damage is spectacular.
> That is false. $16.8B is greater than Melvin's AUM
losses on options contracts arent limited to invested capital. AUM is irrelevant
Re:GameStop Is Happening Again
by fractionalhare on Thursday February 25, 2021 @02:11PM
(#26266833)
Yeah I'm aware of that, but Melvin is not bankrupt.
oh i get it, i thought you were saying the losses werent possible because it exceed their available captial. youre actually saying the losses arent possible because theyd be out of business.
i withdraw.
Re:GameStop Is Happening Again
by fractionalhare on Thursday February 25, 2021 @02:18PM
(#26266936)
Yeah in fairness I could have worded that more precisely, but that's the idea :)
As a more general aside: take everything said on Cramer's show with a grain of salt. He is a deeply unserious character in the financial space. His angle is to be provocative, not accurate.