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Earlier on HN: Martin Shkreli breaks down the collapse of Situational Awareness - https://news.ycombinator.com/item?id=49119380 https://news.ycombinator.com/it
by alasr 2mo ago
Earlier on HN:
Martin Shkreli breaks down the collapse of Situational Awareness - https://news.ycombinator.com/item?id=49119380 https://news.ycombinator.com/item?id=49119380
Edit: added context
- malfist 2mo agoWhy are you promoting content by Martin Shkreli? You know, the guy who committed securities fraud to rip off desperate patients?
- ForHackernews 2mo agoseems like someone who is knowledgeable about financial shenanigans
- WarmWash 2mo agoLike black hats getting cyber sec jobs, they probably know a thing or two.
- r_lee 2mo agoI don't think those two cases are related he's a relatively well known figure in finance and pharma investing
- jakevoytko 2mo agoIf you’re gonna be a hater you at least gotta do it right! The pricing and the securities fraud were two separate things you can count against him.
- petesergeant 2mo agoBecause he’s an expert. Edit: I don't do podcasts but this is absolutely worth some of your time to watch.
- gessha 2mo agoYou can still learn from thieves and crooks. Especially if they break down what they did and how they did it.
- dgellow 2mo agoJust keep in mind you might be the mark of his current scheme
- infecto 2mo agoHe is one of the few folks in finance who regularly streams and is directionally interesting. He served his time.
- zetanor 2mo agoCan you provide a comparable or superior analysis by someone else?
- rib3ye 2mo agoHe has done more for wallstreet-to-mainstreet transparency than you believe. His investor literacy youtube backlog is unusually deep and as of yet has only shilled his own trading product. But your point is valid, he will never live down the fraud conviction and his face is so punchable.
- deleted 2mo ago[deleted]
- dgellow 2mo agoThe shady crypto projects he did after his release are also good reasons to distrust the guy
- loco5niner 2mo agoI really don't like this guy, seriously he's a shark (he's probably right, but what a jerk): "If you know somebody has to liquidate, the best thing you have to do, unfortunately, sadly, Darwinian is to go sell all the positions you have in common, then start shorting everything they have. It accelerates the downfall as quickly as you can." of course then he says 'It's nothing I would ever do...'
- infecto 2mo agoThat’s truly the playbook when you are on the other side of a levered firm though.
- loco5niner 2mo agoYeah, probably. Its too bad.
- infecto 2mo agoWhy too bad? This is how the market ultimately comes to the right price.
- ymolodtsov 2mo agoIf there's any purpose in hedge funds as a structure it's that they provide liquidity for the market. So it's in everyone's best interest to let them do price discovery against each other.
- bagacrap 2mo agoIt's not just liquidity. Price discovery helps everyone. The earlier the correct price is discovered, the less we're all screwed when the bubble pops. I think they're rewarded too well for the function they serve but whaddya gonna do.
- ymolodtsov 2mo agoI mean, most of them underperform S&P, at least after fees.
- jvuygbbkuurx 2mo agoHe has served his time for those crimes
- literalAardvark 2mo agoBecause hn is primarily about competence, knowledge and tech, which Martin has in spades. The arguments against him barely hold water in general anyway.
- eigenspace 2mo agolmao
- fred_is_fred 2mo agoA federal jury sure thought they held water.
- literalAardvark 2mo agoMartin was convicted on three counts of securities fraud. The TL;DR is he was shilling a successful fund while sitting on massive losses. A Madoff kinda thing. This has nothing to do with what people actually hate him for, and for which he was not convicted, because extracting money from a captive clientele is exactly what the US healthcare system is designed to do.
- forgetfreeman 2mo agoSo competent sociopaths get their roses on HN? Good to know.
- baggachipz 2mo agoHe's an absolute ghoul, and to see sibling comments praising him breaks my heart. Yeah, he "did his time", but he also took advantage of sick people for immense profit. You don't get a pass for that.
- deleted 2mo ago[deleted]
- malfist 2mo agoHe's a person that has told the whole world who he is, and some people, especially temporarily embarrassed billionaires on this platform, love him for his unmasked self.
- alasr 2mo agoWhy do you think that just sharing a link to an earlier HN post means 'promoting' someone? I referenced the HN post because I found that it's less about Martin Shkreli himself and more about a quality conversation with good analysis about the inner workings of 'Hedge fund' world and market dynamics. If you've a better source, share it; I'll have a look and might use that one in the future. Otherwise, if you can't contribute in a constructive manner, stop making baseless comments about others intention without understanding them first.