Come again? Do I need to sound like an arrogant bastard again that does not comply with political correct woke tea drinking HR habits?
The banks who lost money because of Archegos Capital Management were not banks. Because they had no one employed with any living active brain-cell. Empty dead zombie meat-bags with an battery around their finger to bash a keyboard.
The people who worked in ‘firms’ who held that piece of crap; had never opened a finance book, a math book, let alone if they even finished with LEGO’s or Duplo’s. You see; people wonder how others could have been so stupid to not have seen it coming. If you are one of those; I don’t know what to tell you. I hope you have a friend who slaps you back into reality.
Evidence? Take the shit-show at Carvana;
Oh boy; 50bn marketcap.
Oh but what do I see here? what an immensive impressive earnings number. So why on earth are they so high?
Except for the folks who know me; they know why this turd is overvalued; for the others;
Carvana has harakiri go-kill-yourself-issued debt bonds at yields I would I get a heart attack from
high yields; means I aint earning shit out of my products; because every bloody penny I earn I either pay off my debt; or I have to use more debt to pay off other debt.
but why are they so high?
because high yield ETfs all bought this rubbish because this ponzi scheme twiddly dick brainless oaf of a firm simply over inflates as it sits in these ETFs who buy it;
but if you say they basically suck, shouldn’t they have a bad credit rating? They do;
CCC+ - > this is not investment grade, this isn’t even gambling, this is purely russian roulette.
and that’s what happened at Archegos Capital. There wasn’t a singular employee who had any knowledge of anything finance related. I’m sure they couldn’t even find the toilet if they had to. And yes, CVNA is toast as well; unless you feel restructuring debt for the sake of restructuring debt is healthy.
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