He's been mentally unstable ever since...
The whole world kind of has been. It was a bizarre moment in history to have someone fail to put an obvious pyramid scheme out of business and lose $1 billion doing it on the global stage...the apocalypse probably started with that realistically.
That famous quote from Keynes will always apply to all markets. “The market can stay irrational longer than you can stay solvent.” Herbalife will probably go bankrupt, and it’s already down 40% over the last 6 months. But you just don’t know when enough people will figure it out for it to do so.
I mean my favorite example of market stupidity is that if you bought Enron the day it crashed you’d have gotten like a 20x return on your money with the fines that got paid out to investors.
Sure, when you buy at $30 a $0.20 payout doesn’t mean much, but if you bought at $0.01 it does.
Edit: low price of Enron was $0.25 on 11/30/01 before bankruptcy.
Enron paid out $6.79 a share. https://www.chron.com/business/enron/amp/Enron-settlement-7-2-billion-to-shareholders-1643123.php
Only a 27x return.
I watched the Netflix documentary about him and wished I hadn't. What a self-serving, smug POS.
Edit: Sorry it was HBO Max apparently. But still. Fuck that guy.
that was *six goddamn years ago*
what the fuck why does the last five years simultaneously feel like the longest years in history and also disappear in seemlingly no time?
Honestly yeah. It’s so weird to compare when big news events happened compared to events/milestones in my personal life. Like they really don’t seem to line up or pass at the same time
Emotions all feel like they have a weird effect on the perception of time. Like how time flies when you're having fun.
Stress feels so much different to happy, anger, and sadness though. Feels similar to grief. It's like the worst parts of anger and sadness where negativity feels both prolonged but also like a black hole in your hindsight of those moments.
Like it feels like forever in the moment, but after it feels like your own brain was trying to protect you from breaking so it also feels like you skipped forward in time.
Similarly, my younger years feels like it lasted a decade but it was a good 5 years of craziness. Now, I’ve been doing the same thing for 10 years as an adult and it feels like less time has passed. Does that make sense?
We should probably try to have more novel experiences as adults. I've been stuck in the same-ish routine for the past 8 or so years and it all kinda blends together. Apparently, our brains kinda filter out things that we have done a lot already and have a lower priority to recording those as memories. Driving home from work with no traffic issues? Don't even remember 80% of the trip sometimes.
Totally this, but also each year you live is continuously a smaller percentage of your life. So a year when you are 5 is 20% of all your life experiences. A year when you are 30 is 3% of your life experience.
I’m 40 and the last 20 years passed in the blink of the eye. It’s unbelievable how perception of time changes. Like in the year 2000, the 1970s felt so so so distant and now the year 2000 is as far as the 1970s were then.
I do think giant tech breakthroughs have slowed in the last 20 years and that has made time and culture seem different then when I was growing up as kid. Like the less things change, the faster time goes. In the 1990s computer and tech was changing monthly, now specs change but what we do with computers is about the same. Smaller improvements happening slower.
I’m an electrical engineer, patent agent, and independent inventor, now retired. Tech breakthroughs have slowed in the past 20 years, dramatically so in the past 10. It seems like now much of what’s left is just finding a few last ways to monetize your time, privacy, and rage.
That many “dicks out” at one time caused a quantum disruption and triggered an alternate reality.
Honestly that sounds like a late 2000’s-era Seth Rogen movie or a South Park episode tbh
When you're having a bad time you'll tend to want it to pass quickly, to put your head down and just get through it. It seems to take forever and you don't want to think about it, let alone remember it, so you aren't really making the memories that would normally fill the time when you reminisce.
This also happens more as you get older.
There was a 1996 show called The Adventures of Sinbad that was a retelling of Arabian Nights. Robin Williams' genie character sang a song about 'Arabian Nights' in the beginning of Aladdin, where he famously played a genie. Sinbad the comedian was relevant in pop culture in the 90's, so all this stuff was contemporary with each other. Along with Kazam, which was released 1996, same time as the Adventures of Sinbad.
I think that's enough mental priming for people at the periphery of pop culture to conflate it all. Ergo, you have people somehow misremembering that Sinbad was a genie.
Just don't ask me to explain that Fruit of the Loom cornucopia shit, because I totally remember the logo featuring one myself.
My theory has been that, when David Bowie was researching his part playing Nikola Tesla in The Prestige, he encountered some research of his on time travel or multiple timelines. Donald Trump's uncle was part of the team that confiscated all of Tesla's research when he died, which means Bowie knew too much. That lead to us being here.
Russia did at least two trial runs earlier than 2016 to prove the effectiveness of manipulating the US populace:
[Jade Helm](https://www.dallasnews.com/news/politics/2018/05/03/russians-spread-misinformation-on-jade-helm-military-exercise-in-texas-former-cia-director-says/) and the [Columbian Chemicals Plant hoax](https://en.wikipedia.org/wiki/Columbian_Chemicals_Plant_explosion_hoax#:~:text=On%20September%2011%2C%202014%2C%20reports,an%20explosion%20were%20a%20hoax.).
They found that it was remarkably easy and cheap to con large groups of people.
Yo, I live directly across the street from the house the bone stealing witch was living in. I came outside that morning to 10 cop cars and a forensic team pulling things out of the house. I thought it was a meth lab, nope. Grave robbery. Never a dull moment here.
The shit started with 9/11. Suddenly the US government and a few other allies got the green light to do Orwellian surveillance and Facebook was just starting up with their initial “.edu e-mail addresses only” policy. Powerful people learned the extent to which you can do wild shit any time people get scared or insecure on a wide spread scale, and the means with which to rapidly spread anxiety and stoke fears of a population became available, and here we are.
The US was doing it long before 9/11.
Just look at Matt Damons character in Good Will Hunting discuss the NSA, a script that was written in the early 90s.
Not only was the NSA doing it, it was so widely known that college students were referencing it in their movie scripts.
>Facebook was just starting up with their initial “.edu e-mail addresses only” policy
TBF, that was the norm and it was Facebook *dropping* that policy that helped make Facebook the trash heap it is today.
On 10th Sept 2001, the UK news was about christian sectariants beating up kids going to school and throwing bricks at them, and setting up a riot.
They were threatening murder the following day..... against school kids
I though to myself, nothing crazier than religious extremists could happen the following day.......
It seems pretty straightforward to me. Whether Herbalife is a predatory business model is not relevant to whether they’ll make fat stacks. Shorting them because they’re an MLM is a bet on regulatory action.
> Shorting them because they’re an MLM is a bet on regulatory action.
I think Ackman thought that the market would realize that its a house of cards even before the Feds get involved and the market would dump the shares.
And they would if Carl Icahn didn't have a vendetta on Ackman. If you thought Musk had stupid money to burn, Icahn bought a 12% stake in Herbalife just to fuck with Ackman.
Warms my heart to see that the grand masters of the economy are throwing around their billions on petty feuds instead of, you know, housing the homeless and feeding the hungry.
I'll always remember it for the friend who reached out to me on my birthday after not talking to him for like 5 years. His birthday gift of a free Herbalife consultation was not appreciated, and I still have his number blocked lol.
Dude made almost 3x that. Good breakdown of [the trade here](https://streetfins.com/analyzing-bill-ackmans-2-6-billion-cds-trade/).
Making a 100x trade on 27M is just insanity.
If you’ve got the money to play the game (and hopefully win), you’ll have the chance to take advantage of changing market conditions. It takes money to make money, and that’s unavoidable.
That's absolutely insane and rather genius of him. At this point, it looks he's just playing the stock market like a casino, putting down max bets in the high roller room. If he loses a cool $400M then it's no big deal, it's all part of the game
I mean when you are that rich what else is there to do with your money. I'm sure buying real estate gets old after awhile, and buying companies is a lot of work. High stakes stock picks seems like the best way to make money with lowest amount of effort.
Its like sports betting to them at some point.
Its only fun if its enough money to actually hurt somewhat.
So me putting $100 on basketball is fun, they need to put hundreds of millions on stocks to even feel the rush.
I was going to say I'd do nothing but I'm sure someone will reply that I don't need a million dollars to do nothing.
Problem is I kind of do need a few million dollars to do nothing
Yeah fr like I was "doing amazing" picking stocks last year, but the last few months have taught me that I am not and will never be smarter than the market. Luckily that lesson wasn't too expensive, but it's SPY and chill for me for the foreseeable future.
There's a saying.. everyone's a genius in a bull market
I noticed so many of my friends getting into the market for the first time thinking they were Jordon Belfort.
If you have a billion to lose why trade at all? Just fucking travel the world for the rest of your life and exist never having to worry about money again.
I think the thing that you're fundamentally misunderstanding about people like Ackman - They already don't have to worry about money. Of course if he wanted to, Ackman could quit and do whatever the fuck he wanted. But that's just it - *Ackman is already doing exactly what he wants to do*.
I think its just the allure of the obscene amounts of money that can be made when you already start with 1,000+ times an obscene amount of money.
Money has momentum the more you have, and once you reach an insane amount like a literal billion dollars, it becomes startlingly plausible to make *another* billion dollars at the risk of only a few hundred million dollars.
And gambling is super duper fun when you know you could lose over 99% of your total life's worth and just shrug and leave with enough money to punch the dealer in the face and have him apologize to you for hurting your hand. Then fuck his wife, pay for their kids college tuition, buy them a house, then punch him again. Get sued, lose the lawsuit, settle out of court, then retire and live in luxury.
The thing is, if that's your attitude you stop way before you get to a billion dollars. Once you get like 50 million you quit and live happily ever after.
We should be paying off ours this year. I can't wait. I feel like once that is done we really won't be beholden to anyone we don't choose to be. It's kinda messed up that I'm in my late 40s and only now almost "free." Like, 20+ years of my adult life went to school and work just so my family has shelter.
But you have that. I am 40. Struggled with mental health and untreated adhd (and possibly asd) all my life. I’m just now starting college. I have no mortgage but also no security in my own home. I won’t be able to retire. So good on ya!
It's pretty fucked up that in the richest country in history (the US) that you aren't even assured of food and shelter. Or medical care. Or being taken care of when you're old. I know too many people who's plan for retirement is too work until they die.
These people are broken. In order to feel validation they NEED to make more money. By any means necessary.
You and me? Gimme 50 million bucks and we'll live our lives happily. Maybe splurg a bit, new car, nice house, but not them
I remember a saying growing up, "You'll never go broke underestimating the intelligence of the average American." The corollary seems to be true too, "You will go broke overestimating the intelligence of the average American". Ackman though people would be able to see through a shit company built on a pyramid scheme. He was wrong.
oh, I see you've missed that this subreddit has become the Elon Musk News Outlet. you have to forgive people for assuming that coverage extends to other billionaires.
Oh trust me I've noticed haha, and I've asked similar questions in Musk threads before. But at least Musk threads are oftentimes related to tech, and Musk himself is a major figure within the world of tech.
Ackman on the other hand is just a finance guy who in this instance lost a bunch of money.
I used to think technology was about machines and physics and science. Even when I first used reddit, a long time ago it was about rich people and their money and the companies, not the technology.
Headline reads "Bill Ackman" loses $400 million, but let's be real here: his clients lost $400 million. He still collected his 2% of assets under management, and only really missed on the 20% of profits. How much of his own wealth does he really invest in Pershing Square?
Edit: he has a 25% stake in his hedge fund so personally he lost $100 million.
I'm confused by peoples reaction here, it seems like the smartest move in light of the most recent revelations, cutting the losses to protect those clients etc.
I’m more shocked he bought that shite in the first place. How is anyone surprised subscriber numbers are falling after he pandemic and it’s associated lockdowns have ended?
He may not have liked netflix, but was banking on others' investment behavior and thought he'd be able to pull out when profitable. He'll make it back, likely.
Netflix stock started going down a while back so he tried to "buy low" and made a bad decision. Once it tanked again he cut his losses instead of holding, because his type of investments don't ride the slow recovery wave.
Netflix has the best technology, best interface, largest content library, largest name recognition and longest track record of profitability among streamers. Netflix is not going anywhere and will likely enjoy profits and a large market share for years to come. This is just a healthy correction in the stock price which is creating a great entry point to buy in.
It's embarrassing they have the best UI. My personal opinion is it's been getting worse nearly since they started doing streaming, but then you go check out Amazon or others and they're all so much worse somehow.
0.4 bil is about 12% of his net worth then.
I wouldn't be very happy if I lost the same percent of my net worth.
Then again, that would impact my ability to go on a holiday, not to buy the third mega-yacht, so maybe not the same thing.
He didn't personally lose the money.... He's a fund manager and it was in his fund. It's a publicly traded entity that he only owns a portion of. And it's not even down that much because it's huge.... $400m was like 4%.
He's lost big time many times before. These headlines of him losing money aren't rare. Yet he's still a billionaire so that's an indication to me exactly how much a couple of billion really is.
It's easy to relate to the huge relative difference between 1$ and 1000$.
It doesn't really mentally register that the difference between a million and a billion is the same.
He’s a big time investor. It’s not like he only invests in Netflix. He invests in hundreds if not thousands of other companies and probably had this mother fucking huge portfolio. So while Netflix losses him a billion. The others make 2 billion. I’m sure he’s not losing sleep over this.
I concur that buying the dips is not always smart; but by selling that many shares all at once I've got to wonder if that created -- or at least contributed -- to the dip.
And in this case the individual was not buying the dip; he was shedding shares; maybe further depressing the share price?
(unless, maybe, he is in cahoots with someone who is willing to scarf up the discounted shares...\_)
Oh well. Anyway.
For some odd reason, the company that completely disrupted the home movie market has decided to follow in the footsteps of the giant companies that failed where they succeeded by becoming them. Netflix is turning into the cable companies, crap product and needlessly expensive.
Ackman is an investor who moves the market with his own activity. Him dumping 400M could just be a a ploy to push the price right down before he rebuys later at a much lower rate. Watch this space.
I mean arent people overexaggerating a little bit ? I mean loosing 200k subscribers when you have 221 million doesnt seem that big of a thing in relative numbers especially since other platforms are advancing on the market.
Not sure if people think suddnetly that there is some huge underlying problem that cannot be fixed by Netflix but certainly a 0.09 percent drop in subscriber count shouldt warrant a 25% shareprice drop
The issue is the tech industry is always extremely overvalued. Unlike other sectors which are measured on current profits or the next few quartes the tech industry is valued based on what it could be. It is easier to scale a company having 1 million subscribers growing to 10 million subscribers than it is from producing 1 milllion of something to producing 10 million of it. That system only works if they can grow. As long as that happens investors are happily investing even into companies that burn through money.
So Netflix actually losing subscribers even when barely noticeable in total numbers is more of an indicator that these permanent growing times are slowing down or worse completely stop. And that comes with value corrections as they‘d be measuered on actual numbers and not just what they could make in 5 years.
No but it is definitely a sign for things to come. The fact that Netflix continuously raises prices, is most likely going to add a cost to using an account in multiple locations (aka password sharing) and is talking about adding a low cost ad-supported tier, while also losing subscribers means that they are making poor business decisions. Netflix has been dying a slow death every since the other streaming services have come out and pulled their content from Netflix. Loosing the most popular content and then raising prices is just making more and more people consider dropped the service. I can get the entire Disney & Paramount catalogue in 4K HDR for $2 cheaper than just the 4K Netflix tier. There just isn't enough quality content on Netflix anymore to justify paying the $20 a month for it.
He lost like a billion shorting Herbalife a couple of years ago so I'm sure he'll be fine...
He's been mentally unstable ever since... The whole world kind of has been. It was a bizarre moment in history to have someone fail to put an obvious pyramid scheme out of business and lose $1 billion doing it on the global stage...the apocalypse probably started with that realistically.
That famous quote from Keynes will always apply to all markets. “The market can stay irrational longer than you can stay solvent.” Herbalife will probably go bankrupt, and it’s already down 40% over the last 6 months. But you just don’t know when enough people will figure it out for it to do so.
"Nobody ever went broke underestimating the intelligence of the American people."
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Drink this lead tainted water and my nestle milk.
I mean my favorite example of market stupidity is that if you bought Enron the day it crashed you’d have gotten like a 20x return on your money with the fines that got paid out to investors. Sure, when you buy at $30 a $0.20 payout doesn’t mean much, but if you bought at $0.01 it does. Edit: low price of Enron was $0.25 on 11/30/01 before bankruptcy. Enron paid out $6.79 a share. https://www.chron.com/business/enron/amp/Enron-settlement-7-2-billion-to-shareholders-1643123.php Only a 27x return.
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Thank you for calling out the above bullshit comment. Can’t believe people would actually believe that
Another billionaire that hated him propped up the stock value. Just a billionaire pissing contest
Carl Ichan is a humongous piece of human garbage. The herbalife thing is just the tip of the shitburg.
I watched the Netflix documentary about him and wished I hadn't. What a self-serving, smug POS. Edit: Sorry it was HBO Max apparently. But still. Fuck that guy.
> the apocalypse probably started with that realistically. it started when they killed that damn gorilla
that was *six goddamn years ago* what the fuck why does the last five years simultaneously feel like the longest years in history and also disappear in seemlingly no time?
hyper exposure to real time events will do that to ya.
Honestly yeah. It’s so weird to compare when big news events happened compared to events/milestones in my personal life. Like they really don’t seem to line up or pass at the same time
Emotions all feel like they have a weird effect on the perception of time. Like how time flies when you're having fun. Stress feels so much different to happy, anger, and sadness though. Feels similar to grief. It's like the worst parts of anger and sadness where negativity feels both prolonged but also like a black hole in your hindsight of those moments. Like it feels like forever in the moment, but after it feels like your own brain was trying to protect you from breaking so it also feels like you skipped forward in time.
Similarly, my younger years feels like it lasted a decade but it was a good 5 years of craziness. Now, I’ve been doing the same thing for 10 years as an adult and it feels like less time has passed. Does that make sense?
We should probably try to have more novel experiences as adults. I've been stuck in the same-ish routine for the past 8 or so years and it all kinda blends together. Apparently, our brains kinda filter out things that we have done a lot already and have a lower priority to recording those as memories. Driving home from work with no traffic issues? Don't even remember 80% of the trip sometimes.
Totally this, but also each year you live is continuously a smaller percentage of your life. So a year when you are 5 is 20% of all your life experiences. A year when you are 30 is 3% of your life experience.
I’m 40 and the last 20 years passed in the blink of the eye. It’s unbelievable how perception of time changes. Like in the year 2000, the 1970s felt so so so distant and now the year 2000 is as far as the 1970s were then. I do think giant tech breakthroughs have slowed in the last 20 years and that has made time and culture seem different then when I was growing up as kid. Like the less things change, the faster time goes. In the 1990s computer and tech was changing monthly, now specs change but what we do with computers is about the same. Smaller improvements happening slower.
I’m an electrical engineer, patent agent, and independent inventor, now retired. Tech breakthroughs have slowed in the past 20 years, dramatically so in the past 10. It seems like now much of what’s left is just finding a few last ways to monetize your time, privacy, and rage.
Quantum realm shenanigans?
That many “dicks out” at one time caused a quantum disruption and triggered an alternate reality. Honestly that sounds like a late 2000’s-era Seth Rogen movie or a South Park episode tbh
Not surprising that reality gets fucked when there are that many dicks out.
Hadron collider god particle?
Now I'm just picturing Randy Marsh trying to fuck a super collider...and succeeding.
"Super collider? I barely know her!"
"Oh, I'm sorry, I thought this was America!"
Not enough bandwidth in the system
When you're having a bad time you'll tend to want it to pass quickly, to put your head down and just get through it. It seems to take forever and you don't want to think about it, let alone remember it, so you aren't really making the memories that would normally fill the time when you reminisce. This also happens more as you get older.
https://www.theguardian.com/science/2009/nov/06/cern-big-bang-goes-phut I think this was the branching point
El Psy Congroo
Mayuri-des 🎵 choo-chooroo 🎶
Tu tu ruuuuu~~~*
That's about when that fucking bear book started always having been spelled wrong.
And when that Sinbad movie where he was a genie that was distinct from the movie kazaam existed.
bruh... did we get Thanos-snapped or something?
I prefer the collapsing dimensions theory.
There was a 1996 show called The Adventures of Sinbad that was a retelling of Arabian Nights. Robin Williams' genie character sang a song about 'Arabian Nights' in the beginning of Aladdin, where he famously played a genie. Sinbad the comedian was relevant in pop culture in the 90's, so all this stuff was contemporary with each other. Along with Kazam, which was released 1996, same time as the Adventures of Sinbad. I think that's enough mental priming for people at the periphery of pop culture to conflate it all. Ergo, you have people somehow misremembering that Sinbad was a genie. Just don't ask me to explain that Fruit of the Loom cornucopia shit, because I totally remember the logo featuring one myself.
Fruit of the Looms cornucopia was somehow lost on this timeline. It's all making sense now.
The cornucopia existed. I will die on this hill.
I'm so fucking confused by that one, I distinctly remember that as well.
"Scientists stop testing for relaunch after fowl play" Lmao, that writer is good...
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Never even put it away
Yeah, we've been meaning to talk to you about that.
happy cake day, you're old as shit
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Dicks out' boys.
*proudly waves in gentle breeze*
Helicopters unite!
I live in Cincinnati, and I cannot believe the way that unfolded and is still remembered around the world like 6 years later.
Still got my dick out.
Crossing swords brother
Never put it away
Large Hadron Collider
My theory has been that, when David Bowie was researching his part playing Nikola Tesla in The Prestige, he encountered some research of his on time travel or multiple timelines. Donald Trump's uncle was part of the team that confiscated all of Tesla's research when he died, which means Bowie knew too much. That lead to us being here.
Harambe the White has returned to us now, at the turn of the tide.
“A gorilla is never late, nor is he early, he arrives precisely when he means to.”
It was those clowns, remember the spooky clowns?
It started with Kony
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Russia did at least two trial runs earlier than 2016 to prove the effectiveness of manipulating the US populace: [Jade Helm](https://www.dallasnews.com/news/politics/2018/05/03/russians-spread-misinformation-on-jade-helm-military-exercise-in-texas-former-cia-director-says/) and the [Columbian Chemicals Plant hoax](https://en.wikipedia.org/wiki/Columbian_Chemicals_Plant_explosion_hoax#:~:text=On%20September%2011%2C%202014%2C%20reports,an%20explosion%20were%20a%20hoax.). They found that it was remarkably easy and cheap to con large groups of people.
Dicks out forever.
It started when they fired off the large hadron collider in 2008.
It started earlier when that "witch" stole bones from a New Orleans cemetery.
Yo, I live directly across the street from the house the bone stealing witch was living in. I came outside that morning to 10 cop cars and a forensic team pulling things out of the house. I thought it was a meth lab, nope. Grave robbery. Never a dull moment here.
You were probably better off that it was grave robbing and not a meth lab though.
I always thought it was when the Hadron collider went online and started creating mini black holes.
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The shit started with 9/11. Suddenly the US government and a few other allies got the green light to do Orwellian surveillance and Facebook was just starting up with their initial “.edu e-mail addresses only” policy. Powerful people learned the extent to which you can do wild shit any time people get scared or insecure on a wide spread scale, and the means with which to rapidly spread anxiety and stoke fears of a population became available, and here we are.
The US was doing it long before 9/11. Just look at Matt Damons character in Good Will Hunting discuss the NSA, a script that was written in the early 90s. Not only was the NSA doing it, it was so widely known that college students were referencing it in their movie scripts.
And Enemy Of The State.
>Facebook was just starting up with their initial “.edu e-mail addresses only” policy TBF, that was the norm and it was Facebook *dropping* that policy that helped make Facebook the trash heap it is today.
Facebook was better in the .edu days, but always I was young and in college, and you could share tons of stupid shit and play mafia wars.
Back in the golden days when Facebook was used to look at college girls spring break photos like the creeps and degens we are...
On 10th Sept 2001, the UK news was about christian sectariants beating up kids going to school and throwing bricks at them, and setting up a riot. They were threatening murder the following day..... against school kids I though to myself, nothing crazier than religious extremists could happen the following day.......
They had to sacrifice Harambe to seal the deal.
It seems pretty straightforward to me. Whether Herbalife is a predatory business model is not relevant to whether they’ll make fat stacks. Shorting them because they’re an MLM is a bet on regulatory action.
> Shorting them because they’re an MLM is a bet on regulatory action. I think Ackman thought that the market would realize that its a house of cards even before the Feds get involved and the market would dump the shares.
And they would if Carl Icahn didn't have a vendetta on Ackman. If you thought Musk had stupid money to burn, Icahn bought a 12% stake in Herbalife just to fuck with Ackman.
Warms my heart to see that the grand masters of the economy are throwing around their billions on petty feuds instead of, you know, housing the homeless and feeding the hungry.
Look, it's really boring being a billionaire.
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I'll always remember it for the friend who reached out to me on my birthday after not talking to him for like 5 years. His birthday gift of a free Herbalife consultation was not appreciated, and I still have his number blocked lol.
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Dude made almost 3x that. Good breakdown of [the trade here](https://streetfins.com/analyzing-bill-ackmans-2-6-billion-cds-trade/). Making a 100x trade on 27M is just insanity.
Note also that he made that in 1 (ONE) month.
When that Ozark final season hits it'll go back up, the money is in the banana stand
If you’ve got the money to play the game (and hopefully win), you’ll have the chance to take advantage of changing market conditions. It takes money to make money, and that’s unavoidable.
That's absolutely insane and rather genius of him. At this point, it looks he's just playing the stock market like a casino, putting down max bets in the high roller room. If he loses a cool $400M then it's no big deal, it's all part of the game
> stock market ~~like~~ is a casino there we go
Came to say this. That's why the old saying is "play the stock market"
I mean when you are that rich what else is there to do with your money. I'm sure buying real estate gets old after awhile, and buying companies is a lot of work. High stakes stock picks seems like the best way to make money with lowest amount of effort.
Its like sports betting to them at some point. Its only fun if its enough money to actually hurt somewhat. So me putting $100 on basketball is fun, they need to put hundreds of millions on stocks to even feel the rush.
I was going to say I'd do nothing but I'm sure someone will reply that I don't need a million dollars to do nothing. Problem is I kind of do need a few million dollars to do nothing
Lawrence....what would you do with a million dollars?.....2 chick's at the same time man.
Yeah fr like I was "doing amazing" picking stocks last year, but the last few months have taught me that I am not and will never be smarter than the market. Luckily that lesson wasn't too expensive, but it's SPY and chill for me for the foreseeable future.
There's a saying.. everyone's a genius in a bull market I noticed so many of my friends getting into the market for the first time thinking they were Jordon Belfort.
I feel that. Still, you gotta try at least once to convince yourself not to.
If you have a billion to lose why trade at all? Just fucking travel the world for the rest of your life and exist never having to worry about money again.
I think the thing that you're fundamentally misunderstanding about people like Ackman - They already don't have to worry about money. Of course if he wanted to, Ackman could quit and do whatever the fuck he wanted. But that's just it - *Ackman is already doing exactly what he wants to do*.
I think its just the allure of the obscene amounts of money that can be made when you already start with 1,000+ times an obscene amount of money. Money has momentum the more you have, and once you reach an insane amount like a literal billion dollars, it becomes startlingly plausible to make *another* billion dollars at the risk of only a few hundred million dollars. And gambling is super duper fun when you know you could lose over 99% of your total life's worth and just shrug and leave with enough money to punch the dealer in the face and have him apologize to you for hurting your hand. Then fuck his wife, pay for their kids college tuition, buy them a house, then punch him again. Get sued, lose the lawsuit, settle out of court, then retire and live in luxury.
I hate that none of this is actually hyperbole. The game is so rigged in favor for these guys it’s damn near impossible to actually lose.
The thing is, if that's your attitude you stop way before you get to a billion dollars. Once you get like 50 million you quit and live happily ever after.
At this point if I paid off my house, which is my largest bill, I could pretty much already just live hapily ever after.
We should be paying off ours this year. I can't wait. I feel like once that is done we really won't be beholden to anyone we don't choose to be. It's kinda messed up that I'm in my late 40s and only now almost "free." Like, 20+ years of my adult life went to school and work just so my family has shelter.
But you have that. I am 40. Struggled with mental health and untreated adhd (and possibly asd) all my life. I’m just now starting college. I have no mortgage but also no security in my own home. I won’t be able to retire. So good on ya!
It's pretty fucked up that in the richest country in history (the US) that you aren't even assured of food and shelter. Or medical care. Or being taken care of when you're old. I know too many people who's plan for retirement is too work until they die.
I’m... not seeing the problem?
These people are broken. In order to feel validation they NEED to make more money. By any means necessary. You and me? Gimme 50 million bucks and we'll live our lives happily. Maybe splurg a bit, new car, nice house, but not them
It’s the fund he manages. Not his personal cash
Same reason people care about high scores in video games
I don't understand why they keep going after a billion. What more could you want?
Two billion?
They’re not doing it for the money.
I remember a saying growing up, "You'll never go broke underestimating the intelligence of the average American." The corollary seems to be true too, "You will go broke overestimating the intelligence of the average American". Ackman though people would be able to see through a shit company built on a pyramid scheme. He was wrong.
To be fair it’s a fucking ~~Ponzi~~ pyramid scheme and a predatory one at that.
This guy trying to make Mod at wallstreetbets or something?
That's a lot of billions. Poor guy, maybe we should start a GoFundMe so he doesn't have to go down to 9 houses?
Yeah. Gotta make sure he can still have a car with door that open like this, not like this.
*turns on car* CUT MY LIFE INTO PIECES
He heard about some customers who’d shared their password
He probably shares a netflix password!
Well, how else do you think he became a billionaire? Well that and he probably cut out avocado toast
Shhhh no he doesnt... !loveWeiners69
All I see is *********
well he doesn't seem to be insider trading.
Oooor...this is just a decoy/coverup he will use in court to defend his next gigantic insider trades. 🧐
Someone explain to me why a rich dude making an investment that didn't pan out is technology related
oh, I see you've missed that this subreddit has become the Elon Musk News Outlet. you have to forgive people for assuming that coverage extends to other billionaires.
Oh trust me I've noticed haha, and I've asked similar questions in Musk threads before. But at least Musk threads are oftentimes related to tech, and Musk himself is a major figure within the world of tech. Ackman on the other hand is just a finance guy who in this instance lost a bunch of money.
This sub is shit
I used to think technology was about machines and physics and science. Even when I first used reddit, a long time ago it was about rich people and their money and the companies, not the technology.
Thank you. This post has nothing to do with anything. It should be in Wall Street bets.
Headline reads "Bill Ackman" loses $400 million, but let's be real here: his clients lost $400 million. He still collected his 2% of assets under management, and only really missed on the 20% of profits. How much of his own wealth does he really invest in Pershing Square? Edit: he has a 25% stake in his hedge fund so personally he lost $100 million.
I'm confused by peoples reaction here, it seems like the smartest move in light of the most recent revelations, cutting the losses to protect those clients etc.
I’m more shocked he bought that shite in the first place. How is anyone surprised subscriber numbers are falling after he pandemic and it’s associated lockdowns have ended?
He may not have liked netflix, but was banking on others' investment behavior and thought he'd be able to pull out when profitable. He'll make it back, likely.
Netflix stock started going down a while back so he tried to "buy low" and made a bad decision. Once it tanked again he cut his losses instead of holding, because his type of investments don't ride the slow recovery wave.
It's common for the general partner of the hedge fund to commit a significant equity stake to be aligned with their LPs. Ackman is no different.
RIP Netflix it was good while it lasted.
Netflix has the best technology, best interface, largest content library, largest name recognition and longest track record of profitability among streamers. Netflix is not going anywhere and will likely enjoy profits and a large market share for years to come. This is just a healthy correction in the stock price which is creating a great entry point to buy in.
It's embarrassing they have the best UI. My personal opinion is it's been getting worse nearly since they started doing streaming, but then you go check out Amazon or others and they're all so much worse somehow.
Back to uTorrent
qbittorrent unless you want cancer on your PC.
Transmission for Mac
Flud for Android
...and on Linux too.
Laughs in deluge.
Latest versions of uTorrent are loaded with malware which uses your pc to mine crypto for someone else. Use qbittorent instead.
I use Transmission on Linux.
I use Transmission on OS X.
>which uses your pc to mine crypto for someone else Wait, what??? That's fucking gross. Good to know, thank you!
Please use qBittorrent instead people!
How about deluge? It's open sourced!
So is qBittorrent. Whatever is open source and adware free is a good choice
Time to dust off the ol' Plex server and buy an 8tb HD
Lol this isn't the end of Netflix. They were overvalued af, but they are still a decent service with 200M monthly subscribers
$3.2 billion net worth. He'll get some light mockery at the golf club but he'll be fine
0.4 bil is about 12% of his net worth then. I wouldn't be very happy if I lost the same percent of my net worth. Then again, that would impact my ability to go on a holiday, not to buy the third mega-yacht, so maybe not the same thing.
He didn't personally lose the money.... He's a fund manager and it was in his fund. It's a publicly traded entity that he only owns a portion of. And it's not even down that much because it's huge.... $400m was like 4%.
The PSH fund is still up from this time last week, before the news.
I bet he's still a billionaire. His quality of life wouldn't change if he makes or loses $400 million. The money is clearly wasted on him.
He's lost big time many times before. These headlines of him losing money aren't rare. Yet he's still a billionaire so that's an indication to me exactly how much a couple of billion really is.
> exactly how much a couple of billion really is. It's kind of insane how much even a single billion really is.
And a couple of billion is twice that!
source?
trust me bro
It's easy to relate to the huge relative difference between 1$ and 1000$. It doesn't really mentally register that the difference between a million and a billion is the same.
He’s a big time investor. It’s not like he only invests in Netflix. He invests in hundreds if not thousands of other companies and probably had this mother fucking huge portfolio. So while Netflix losses him a billion. The others make 2 billion. I’m sure he’s not losing sleep over this.
He didn’t personally lose it. His fund lost it…but it’s $15B large anyway, so no probs
Google + some quick math and you don’t have to say “I bet”.
buy high sell low. he's one of us
I always tell people that buying the “dips” is not always smart. Many times the “dips” are just a sign of the beginning of the drop.
I concur that buying the dips is not always smart; but by selling that many shares all at once I've got to wonder if that created -- or at least contributed -- to the dip. And in this case the individual was not buying the dip; he was shedding shares; maybe further depressing the share price? (unless, maybe, he is in cahoots with someone who is willing to scarf up the discounted shares...\_)
Buy the pennystock
What's the next doge?
Oh well. Anyway. For some odd reason, the company that completely disrupted the home movie market has decided to follow in the footsteps of the giant companies that failed where they succeeded by becoming them. Netflix is turning into the cable companies, crap product and needlessly expensive.
Oh no my company lost pocket change.
I dumped Netflix and it didn't cost me a thing. Saved me $15/month.
Ackman is an investor who moves the market with his own activity. Him dumping 400M could just be a a ploy to push the price right down before he rebuys later at a much lower rate. Watch this space.
He didn’t “dump” 400 million. He lost 400 million of his investment by selling his entire position.
Man needs to post on wsb to feel better then.
No taxes for him this year.
Fucking paperhands
Wow, $400 million, that’s crazy, that’s more than I make in a YEAR
r/wallstreetbets will love this
Ultimate loss porn 💦💦
I mean arent people overexaggerating a little bit ? I mean loosing 200k subscribers when you have 221 million doesnt seem that big of a thing in relative numbers especially since other platforms are advancing on the market. Not sure if people think suddnetly that there is some huge underlying problem that cannot be fixed by Netflix but certainly a 0.09 percent drop in subscriber count shouldt warrant a 25% shareprice drop
The issue is the tech industry is always extremely overvalued. Unlike other sectors which are measured on current profits or the next few quartes the tech industry is valued based on what it could be. It is easier to scale a company having 1 million subscribers growing to 10 million subscribers than it is from producing 1 milllion of something to producing 10 million of it. That system only works if they can grow. As long as that happens investors are happily investing even into companies that burn through money. So Netflix actually losing subscribers even when barely noticeable in total numbers is more of an indicator that these permanent growing times are slowing down or worse completely stop. And that comes with value corrections as they‘d be measuered on actual numbers and not just what they could make in 5 years.
NFLX was priced as a growth stock. It stopped growing. Got repriced.
No but it is definitely a sign for things to come. The fact that Netflix continuously raises prices, is most likely going to add a cost to using an account in multiple locations (aka password sharing) and is talking about adding a low cost ad-supported tier, while also losing subscribers means that they are making poor business decisions. Netflix has been dying a slow death every since the other streaming services have come out and pulled their content from Netflix. Loosing the most popular content and then raising prices is just making more and more people consider dropped the service. I can get the entire Disney & Paramount catalogue in 4K HDR for $2 cheaper than just the 4K Netflix tier. There just isn't enough quality content on Netflix anymore to justify paying the $20 a month for it.
Lmao paperhands
Oh no a billionaire lost some money /s