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Politics : Politics for Pros- moderated
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To: didjuneau who wrote (771793)11/14/2022 11:24:48 AM
From: skinowski1 Recommendation

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didjuneau

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Marty may be most famous for perfectly calling the Crash of ’87 on precisely the Friday night before that fateful Monday,
This is funny. That very same weekend, my wife and I were visiting some friends. I had a long chat with the husband - a very smart guy - and the 2 of us came to the conclusion that the market is about to crash - and it’s time to buy puts.

But, it was too late. On Monday the market crashed. The very next morning, it opened with a large gap down - but promptly reversed - and that was all she said.

The FTX was a vicious fraud since day one. The guy created the impression of being oh so very credible - famous people and what not…. among other things, he gave more in Dem donations than any person alive, except for George Soros.

His customers were under the impression that they were buying Cryptos - and the firm held them. In reality, they were buying mostly nothing. The owner invested the money he raised in a hedge fund under his management. Apparently, he was a far better scam artist than a trader - the fund was losing money. Eventually, the entire operation collapsed - but not before a chunk of money was stolen - via a “mysterious” hack.

I hear, Michael Lewis spent a lot of time learning about the operation. There will be a book about it.
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