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“Smart men go broke three ways - liquor, ladies and leverage.” - Charlie Munger
by baxtr 4y ago
“Smart men go broke three ways - liquor, ladies and leverage.” - Charlie Munger
- puranjay 4y agoAbsolutely baffling how they managed to lose this money. Zhu Su, one of the co-founders, would talk about the Bitcoin “supercycle” so much that people started calling it “zhupercycle” Now it appears that they actually drank their own kool aid and went long when market was crashing.
- randomhodler84 4y agoIt’s all a bit self actualizing. Terra Luna failure was a core issue in the unwinding. The solution is not less 3ac’s but more, so inevitable unwinding does not take out all the players.