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So, Wall Street lives off of skimming fees from the retail investor, and now they cry when the masses cause them pain? Won't anyone shed a tear for the masters

So, Wall Street lives off of skimming fees from the retail investor, and now they cry when the masses cause them pain? Won't anyone shed a tear for the masters of the universe? Aren't these 2/20 "investment managers" supposed to hedge their positions with other derivatives (i.e. options.) ? So much for risk managers and the VaR metric (I know that has fallen out of favor since the last crisis' 10 sigma event.)

kasey_junk 6y ago
Thinking of Wall Street as a homogeneous entity is a big mistake. Lots of finance firms are loving this (Citadel for instance used this as an opportunity to get in on a distressed asset, Melvin, cheaply). This Korean fund made a billion dollars on a 12 million dollar investment https://www.google.com/amp/s/www.marketwatch.com/amp/story/large-gamestop-shareholder-must-asset-management-sold-off-its-stake-2021-01-28 https://www.google.com/amp/s/www.marketwatch.com/amp/story/l... Even Melvin didn’t take an existential beating. They are likely going to end their fund date positive which is good for the endowments they manage especially if they got there via a more diversified position than other options.