Here's How Much Money Some Reddit Trolls Cost the Hedge Funds, and It's Going to Get Worse

Red State ^ | 01/31/2021 | Bonchie

[Fury]

Good post.

My way of thinking, being the dim-witted dult that I am:

A bird in the hand is always worth two in the bush

If I was in the position you describe, I’d sell out of it in a minute. Maybe not all of it. But enough of it.

[minnesota_bound]

How much are these hedge fund guys making normally when they lose $3.5 billion and others some $13 billion and more?

[ExGeeEye]

Would that people with *cough* other assets would get together and act with one voice.

Yeah, I'm waiting for the moment of "critical mass".

[duckman]

Is there an explanation of the Gamestock issue that a non investor can understand. Don’t have a clue what is going on, just know it is getting a lot of press. Just askin’.

[spetznaz]

Top hedge fund managers are probably the best paid people on the planet (outside Russian oligarchs, Asian despots, African warlords and certain Democrats in the US).

James Simmons of Renaissance made $1.8 billion in 2019. The year before it was $1.6 billion. And considering a good portion of this was fees (eg in 2018 43%, or $680 million, was in fees) this means a large amount of it is cash and not stock or such.

Others like Stephen Cohen (affected by the GME squeeze) have art collections above $1 billion, and usually buys $100-140m a pop. There’s a very interesting documentary about him called ‘To Catch a Trader’ and an even more interesting book called ‘Black Edge.’

Now, there is high survivor bias - many hedge funds fail and most do not outperform. But the top hedge funds have people at the top that literally make movie stars look like jokers! For example Stephen Cohen spent $8-12 million on a shark immersed in a tank of formaldehyde.

That would be good income for almost any movie star.

[griswold3]

You know what the Fed will do.

[El Cid]

Re: 40

Thanks for the confirmation. That is beyond the pale. Hopefully they’ll be held accountable for that crime (whatever their fine print says, this is wrong). But nowadays, who knows. Accountability is very rare.