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Seems like a bad idea. Why did people give him billions of dollars? Did he ever make money on his trades? When markets are going up every one is making money. I
by magic_man 3y ago
Seems like a bad idea. Why did people give him billions of dollars? Did he ever make money on his trades? When markets are going up every one is making money. I am wondering how many of the super rich are smart or hard working or just got very lucky.
- FigurativeVoid 3y ago> Why did people give him billions Let’s not blame the people too badly. He was going out of his way to commit fraud. I’m sure the data he presented made FTX/Alameda seem great. > Did he ever make money on his trades? He’s famous for making a lot of money on one Bitcoin arbitrage. Other than that I have no idea.
- ipsin 3y agoI think it's reasonable to ask if the Japanese arbitrage actually ever took place, particularly at the scale he claimed it did. It comes off a lot like Charles Ponzi's postal coupon story. A story to tell as part of the confidence game.