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He just borrowed from depositors until he was sufficiently leveraged for his personal risk tolerance.
by jjoonathan 3y ago
He just borrowed from depositors until he was sufficiently leveraged for his personal risk tolerance.
- CrazyStat 3y agoThis is the man who said he was willing to bet the destruction of the world against a 51% chance of the world being duplicated, leading to a (under certain questionable population ethics calculations) doubling of total utility. His risk tolerance is either infinite or, more likely, he doesn't have a clue what it is so he treats it as infinite.
- jjoonathan 3y agoIt's a meme. On WallStreetBets, /u/ControlTheNarrative found a "trick" to borrow $50k from Robinhood and lost it all on a dumb bet while making a big display of being rational ("I repeat this until I am sufficiently leveraged for my Personal Risk Tolerance.") I am making a comparison to SBF, who found a "trick" to borrow almost a million times as much from investors and depositors and lost it all on a dumb bet while making a big display of being rational.
- dragonwriter 3y agoHe has publicly stated that his philosophy was ignoring risk completely in pursuit of the best expected value. (Whether becauae its true, or because it was a forn of attention-seeking edgy rationalism, or what...)