$11B Failed Option YOLO Ends In Disaster!
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Published 2022-08-19
In this video we go over the disastrous performance of a prestigious Wall Street investment fund.
SEC Press Release: www.sec.gov/news/press-release/2022-84
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#Wallstreetmillennial #Allianz #SEC # Fraud
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0:00 - 2:28 Intro
2:29 - 7:24 The Fraud
7:25 - 11:50 deception
11:51 - 13:23 Investigation and outcome
All Comments (21)
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Bro, I hope the absolute best for WSM. It feels like a business school project that went too far and I love it
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So, 22% to 12% is not 10% less. It's 10 points less. 22% to 12% is cutting it by nearly 50%.
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So with all that fraud did anybody go to jail?
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4:00 Shorting volatility is like picking up change from railroad tracks. Super profitable, as long as you can evade the oncoming train.
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So I guess at the end of the day we're all just a bunch of degenerates doing YOLOs with our or somebody else's money.
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When you yolo so badly the SEC and Justice department get involved...
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I swear i never miss one of video, i even searched your old video
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It seems like everytime you see these huge blow ups, the investors are pension funds. The creation of tax code 401k is wonderful thing.
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The problem with having hedge strikes at -40% isn't that they're unlikely to be worth anything, the problem is that if they "pay off", then all they're doing is capping your long portfolio losses at -40%. It's like buying insurance and declaring your house is worth only 60% of its actual value so you can pocket the cost savings. it works most of the time...
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If I was shown this chart 3:29 I would have walked out of the investment meeting. 😂
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I fr just wanna say that your channel is awesome, I signed up for your newsletter and appreciate every video you put up here!
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Alpha is not a "general term". It is a specific mathematical quantification of the excess return of a given investment relative to a benchmark.
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It was a short vol strategy that broke due to insufficient hedges if vol moved higher. Whilst there was clear fraud on getting investors into the fund, the performance of the fund would have been the same regardless as this was the investment strategy. Also, makes you wonder about what the compliance department were doing not reviewing marketing material that was fabricated.
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Shouldn't it been a clue, when they were getting high return with low risk?
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I actually grew up with Greg’s kids. This is crazy!
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Is it just me or do the fees always seem higher when foreign companies are involved and that US banks only get a slap on the wrist and are allowed to keep the illegal gains? Don't get me wrong, I like it when a company has to pay for their wicked shenanigans, it just seems to me that US companies get treated much more lightly by the US investigators
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when owning the underlying, I've found the best way to hedge against a downturn is to sell calls against those shares with a delta no greater than 0.30, then buy puts at the money or at least above your adjusted cost basis if you've been using your position to generate premiums since acquiring the underlying.
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Keep up the good work. Thanks for educating us. My favorite youtube channel these days.
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Wow. That is crazy.
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Some justice achieved. Incredible!
