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Sam Bankman Fried: From “Next Buffett” Billionaire to 25-Year Sentence. Can a Pardon Save Him? 🇺🇸 He was once called the next Warren Buffett, a 30-year-old billionaire who wanted to give his fortune away to save the world. Then, in barely a week, his entire empire evaporated. This is...

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Crazy Story on how French Montana LOST $5,000,000 during the collapse of FTX crypto trading platform. He was at the airport when he found out & immediately cancelled his flight. French: “I was SICK to my stomach, I couldn’t eat for 2-3 days & stayed in my hotel for like 10 days” 🤯 FTX crashed significantly in November 2022 when the company filed for bankruptcy Customers rushed to withdraw $6 billion in just 72 hours, but the exchange didn't have the money to cover it. It was discovered that Bankman-Fried had illegally diverted billions in customer deposits to cover his losses. INSANE Founder Sam Bankman-Fried was found guilty of multiple counts of fraud & conspiracy and sentenced to 25 years in federal prison 🎥Credit: Earn Your Leisure
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Crazy Story on how French Montana LOST $5,000,000 during the collapse of FTX crypto trading platform. He was at the airport when he found out & immediately cancelled his flight. French: “I was SICK to my stomach, I couldn’t eat for 2-3 days & stayed in my hotel for like 10 days” 🤯 FTX crashed significantly in November 2022 when the company filed for bankruptcy Customers rushed to withdraw $6 billion in just 72 hours, but the exchange didn't have the money to cover it. It was discovered that Bankman-Fried had illegally diverted billions in customer deposits to cover his losses. INSANE Founder Sam Bankman-Fried was found guilty of multiple counts of fraud & conspiracy and sentenced to 25 years in federal prison 🎥Credit: Earn Your Leisure

CulturedUpdates

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NEW LONG FORM VIDEO: How FTX went from $32 billion to bankruptcy in 4 days On November 7, 2022, FTX founder and CEO Sam Bankman-Fried posted on Twitter, telling everyone that everything was fine and there was nothing to worry about. Just four days later, the company collapsed. More than a million customers lost access to their money, and $32 billion in value disappeared almost overnight. How does someone who built his entire public image around doing good end up at the center of the biggest financial fraud in America since Enron? On this beautiful morning, we're diving into that story. This is the rise and fall of FTX.
22:33

NEW LONG FORM VIDEO: How FTX went from $32 billion to bankruptcy in 4 days On November 7, 2022, FTX founder and CEO Sam Bankman-Fried posted on Twitter, telling everyone that everything was fine and there was nothing to worry about. Just four days later, the company collapsed. More than a million customers lost access to their money, and $32 billion in value disappeared almost overnight. How does someone who built his entire public image around doing good end up at the center of the biggest financial fraud in America since Enron? On this beautiful morning, we're diving into that story. This is the rise and fall of FTX.

Michael Girdley

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Conspiracy theorist were right again Sam Bankman-Fried, former CEO of FTX was laundering money to Democrats He gave over $40,000,000 in political donations to Democrats But that’s not all, Mitch McConnell also took over a million dollars It was exposed that Democrats were laundering Ukraine war money to Ukraine, putting the money into FTX and then getting the money back as political donations How have no Democrats been attested and gone to jail yet Also, Mitch McConnell-linked groups received additional significant funds. Sam Bankman-Fried wired $10 million to the dark-money group One Nation (aligned with McConnell)
2:39

Conspiracy theorist were right again Sam Bankman-Fried, former CEO of FTX was laundering money to Democrats He gave over $40,000,000 in political donations to Democrats But that’s not all, Mitch McConnell also took over a million dollars It was exposed that Democrats were laundering Ukraine war money to Ukraine, putting the money into FTX and then getting the money back as political donations How have no Democrats been attested and gone to jail yet Also, Mitch McConnell-linked groups received additional significant funds. Sam Bankman-Fried wired $10 million to the dark-money group One Nation (aligned with McConnell)

Wall Street Apes

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Eleanor Terrett on the FTX ghost haunting Clarity Act politics: "There's a lot of PTSD from FTX, especially among Democrats who took money from Sam Bankman-Fried, gave time to SBF, who ended up being what he was." "A lot of folks on the Hill haven't recovered from that. They see crypto as synonymous with FTX and SBF." "There's a world where they just can't see beyond that, no matter what the industry does to redeem itself." "But the Clarity Act itself has bankruptcy remoteness protections built in. If a crypto exchange fails, customers get the same rights they'd have if a traditional financial platform went bankrupt." "The bill prevents another FTX and that's exactly what Democrats say they want."
1:39

Eleanor Terrett on the FTX ghost haunting Clarity Act politics: "There's a lot of PTSD from FTX, especially among Democrats who took money from Sam Bankman-Fried, gave time to SBF, who ended up being what he was." "A lot of folks on the Hill haven't recovered from that. They see crypto as synonymous with FTX and SBF." "There's a world where they just can't see beyond that, no matter what the industry does to redeem itself." "But the Clarity Act itself has bankruptcy remoteness protections built in. If a crypto exchange fails, customers get the same rights they'd have if a traditional financial platform went bankrupt." "The bill prevents another FTX and that's exactly what Democrats say they want."

The Rollup

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Convicted crypto criminal, Sam Bankman-Fried, claims that he is NOT a criminal on his latest podcast with Tucker Carlson. Millions of clients money have still not yet been returned. He claims that the Democrats stabbed him in the back despite his political donations to the US political party. What’s your take on this? 🤔
0:58

Convicted crypto criminal, Sam Bankman-Fried, claims that he is NOT a criminal on his latest podcast with Tucker Carlson. Millions of clients money have still not yet been returned. He claims that the Democrats stabbed him in the back despite his political donations to the US political party. What’s your take on this? 🤔

Adel

32,521 Aufrufe • vor 1 Jahr

Bitcoin News March 29, 2024 $BTC 70.689 $ETH 3.569 Trade Coin D2 Sam Bankman-Fried (SBF) Gets 25 Years: Here’s a Full Breakdown In November 2023, FTX founder Sam Bankman-Fried (SBF) was found guilty of multiple counts of fraud in relation to the stunning collapse of his exchange that left customers and investors with billions of dollars in losses. Crypto Hackers Siphon Over $300 Million in Q1 2024, Immunefi The crypto industry, while brimming with immense potential, is also teeming with hackers and scammers looking for their next victim. IMF Report Advocates for Digital Currencies to Boost Financial Inclusion in Pacific Islands The International Monetary Fund (IMF) has highlighted the potential of digital currencies, including stablecoins and central bank digital currencies (CBDCs), to enhance financial inclusion and improve financial services in the Pacific Islands. Dogecoin’s price prediction: Is DOGE to $1 still on for the memecoin? Dogecoin witnessed a massive uptick in price over the last few weeks despite the overall market seeing volatility. One of the reasons for this could be the high transaction volume occurring on the network.
1:10

Bitcoin News March 29, 2024 $BTC 70.689 $ETH 3.569 Trade Coin D2 Sam Bankman-Fried (SBF) Gets 25 Years: Here’s a Full Breakdown In November 2023, FTX founder Sam Bankman-Fried (SBF) was found guilty of multiple counts of fraud in relation to the stunning collapse of his exchange that left customers and investors with billions of dollars in losses. Crypto Hackers Siphon Over $300 Million in Q1 2024, Immunefi The crypto industry, while brimming with immense potential, is also teeming with hackers and scammers looking for their next victim. IMF Report Advocates for Digital Currencies to Boost Financial Inclusion in Pacific Islands The International Monetary Fund (IMF) has highlighted the potential of digital currencies, including stablecoins and central bank digital currencies (CBDCs), to enhance financial inclusion and improve financial services in the Pacific Islands. Dogecoin’s price prediction: Is DOGE to $1 still on for the memecoin? Dogecoin witnessed a massive uptick in price over the last few weeks despite the overall market seeing volatility. One of the reasons for this could be the high transaction volume occurring on the network.

Trade Coin D2

23,880 Aufrufe • vor 2 Jahren

“The ghost of Sam Bankman-Fried looms above this auditorium. He is the genius behind the GENIUS Act, and one can only hope that he’s able to watch C-SPAN on a black & white TV in his prison cell.” - Rep. Sherman (D-CA) disagree with everything he says but always laugh.. dude has some bangers.. favorite crypto antagonist in congress
0:25

“The ghost of Sam Bankman-Fried looms above this auditorium. He is the genius behind the GENIUS Act, and one can only hope that he’s able to watch C-SPAN on a black & white TV in his prison cell.” - Rep. Sherman (D-CA) disagree with everything he says but always laugh.. dude has some bangers.. favorite crypto antagonist in congress

Alex Thorn

43,574 Aufrufe • vor 1 Jahr

24 year old Leopold Aschenbrenner just blew up his $45 billion fund by going all in on the AI trade. He previously worked for Sam Bankman-Fried and Sam Altman. What are the odds that he was hired by two lying psychopaths back-to-back? This smells like a total psyop by Citadel to convince retail to follow his trades and blow up their accounts, doesn't it?
6:12

24 year old Leopold Aschenbrenner just blew up his $45 billion fund by going all in on the AI trade. He previously worked for Sam Bankman-Fried and Sam Altman. What are the odds that he was hired by two lying psychopaths back-to-back? This smells like a total psyop by Citadel to convince retail to follow his trades and blow up their accounts, doesn't it?

Financelot

86,737 Aufrufe • vor 13 Tagen

Kevin O’Leary says the "altcoin" era is over. 🦈 According to Mr. Wonderful, $BTC and $ETH are the only assets worth holding, claiming they capture 97% of the alpha while everything else is just noise (or worse). 📉 It’s a bold stance, but the crypto community has a long memory. Many are pointing out the irony given his past "convictions": Then: “Sam Bankman-Fried is a great kid.” Then: “FTX is the exchange for real investors.” Now: Everything except the Big Two is a "coin" with no value. Is this a pivot to "Blue Chip" safety, or just another Shark Tank pitch gone sideways? #Bitcoin #Ethereum #Crypto #KevinOLeary #Web3
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Kevin O’Leary says the "altcoin" era is over. 🦈 According to Mr. Wonderful, $BTC and $ETH are the only assets worth holding, claiming they capture 97% of the alpha while everything else is just noise (or worse). 📉 It’s a bold stance, but the crypto community has a long memory. Many are pointing out the irony given his past "convictions": Then: “Sam Bankman-Fried is a great kid.” Then: “FTX is the exchange for real investors.” Now: Everything except the Big Two is a "coin" with no value. Is this a pivot to "Blue Chip" safety, or just another Shark Tank pitch gone sideways? #Bitcoin #Ethereum #Crypto #KevinOLeary #Web3

Jungle Inc | Markets & Future Systems

22,736 Aufrufe • vor 6 Monaten

🚨🇺🇸SAM BANKMAN-FRIED THROWN INTO SOLITARY AFTER TUCKER INTERVIEW FTX founder SBF has reportedly been placed in solitary confinement after discussing his prison life - including cellmates Diddy and Luigi Mangione - in an interview with Tucker. The Bureau of Prisons did not confirm the punishment, but sources said he was isolated after the interview aired. SBF is serving a 25-year sentence for fraud at Brooklyn’s Metropolitan Detention Center. Source: Daily Mail
2:19

🚨🇺🇸SAM BANKMAN-FRIED THROWN INTO SOLITARY AFTER TUCKER INTERVIEW FTX founder SBF has reportedly been placed in solitary confinement after discussing his prison life - including cellmates Diddy and Luigi Mangione - in an interview with Tucker. The Bureau of Prisons did not confirm the punishment, but sources said he was isolated after the interview aired. SBF is serving a 25-year sentence for fraud at Brooklyn’s Metropolitan Detention Center. Source: Daily Mail

Mario Nawfal

624,784 Aufrufe • vor 1 Jahr

Sam Bankman-Fried is doing 25 years behind bars, and is now sharing a cell block with Diddy. He joins us from prison for an update on his new life. (0:00) What Has Prison Been Like? (2:28) Was SBF Ever on Adderall? (4:42) SBF Meeting Diddy in Prison (7:01) How Prison Has Changed SBF’s Perspective (9:37) The Democrats Refused to Rescue SBF Despite His Large Donations (15:24) The Future of Crypto Under Donald Trump (21:17) Does SBF Have Any Money Left? (24:42) Tucker Confronts SBF About His Effective Altruism Cult (31:13) Will SBF Ever Actually Get Out of Prison? (36:41) Why All of SBF’s Friends, Family, and Co-Workers Abandoned Him Includes paid partnerships.
42:52

Sam Bankman-Fried is doing 25 years behind bars, and is now sharing a cell block with Diddy. He joins us from prison for an update on his new life. (0:00) What Has Prison Been Like? (2:28) Was SBF Ever on Adderall? (4:42) SBF Meeting Diddy in Prison (7:01) How Prison Has Changed SBF’s Perspective (9:37) The Democrats Refused to Rescue SBF Despite His Large Donations (15:24) The Future of Crypto Under Donald Trump (21:17) Does SBF Have Any Money Left? (24:42) Tucker Confronts SBF About His Effective Altruism Cult (31:13) Will SBF Ever Actually Get Out of Prison? (36:41) Why All of SBF’s Friends, Family, and Co-Workers Abandoned Him Includes paid partnerships.

Tucker Carlson

9,571,002 Aufrufe • vor 1 Jahr

Trump wants to hand out 250 pardons this summer to celebrate America’s 250th birthday. And guess who’s lining up for a pardon? Ghislaine Maxwell, convicted of helping sex trafficker Jeffrey Epstein recruit and groom underage girls. Sam Bankman-Fried, the crypto fraudster convicted of one of the biggest financial frauds in American history, who wiped out the life savings of thousands of ordinary people. Jho Low, accused of stealing $4.5 billion from his own country’s government. Welcome to the latest episode of the Pardon Papers. A presidential pardon is one of the most serious decisions a president can make. It exists for when the justice system genuinely gets something wrong, not to be handed out by the hundreds. The President of the United States is not a king. What Trump is doing is an abuse of power, plain and simple. I’m fighting for a constitutional amendment to put limits on it, because no president should be able to do this. Not now. Not ever.
2:32

Trump wants to hand out 250 pardons this summer to celebrate America’s 250th birthday. And guess who’s lining up for a pardon? Ghislaine Maxwell, convicted of helping sex trafficker Jeffrey Epstein recruit and groom underage girls. Sam Bankman-Fried, the crypto fraudster convicted of one of the biggest financial frauds in American history, who wiped out the life savings of thousands of ordinary people. Jho Low, accused of stealing $4.5 billion from his own country’s government. Welcome to the latest episode of the Pardon Papers. A presidential pardon is one of the most serious decisions a president can make. It exists for when the justice system genuinely gets something wrong, not to be handed out by the hundreds. The President of the United States is not a king. What Trump is doing is an abuse of power, plain and simple. I’m fighting for a constitutional amendment to put limits on it, because no president should be able to do this. Not now. Not ever.

Rep. Mike Levin

82,468 Aufrufe • vor 2 Monaten

🚨BREAKING: PROSECUTORS DROP CAMPAIGN FINANCE CHARGE AGAINST FTX’S SAM BANKMAN-FRIED Federal prosecutors are dropping the charge that SBF violated campaign finance rules. SBF was charged with fraud and campaign finance violations after the sudden collapse of FTX, a crypto exchange. He was extradited from the Bahamas to face trial in a US federal court. However, officials in the Bahamas informed the government that they did not extradite SBF on the campaign finance charge. Late last night, the prosecutors filed to drop the charge, claiming that "in keeping with its treaty obligations to the Bahamas, the government does not intend to proceed to trial on the campaign contributions count." The accusations against SBF were that he was behind $90 million in campaign contributions to some 300 political candidates or political action committees. OTHER CHARGES REMAIN SBF is now facing seven charges in October relating to fraud. These include defrauding customers and lenders of FTX. It is alleged that SBF siphoned billions of dollars that customers had deposited with FTX. Other charges may yet result in an additional trial, but complications arise from litigation in the Bahamas over the extradition, which must be concluded before the US government can proceed. If convicted on the securities fraud and wire fraud charges, SBF faces the prospect of being sentenced to dozens of years in prison. We will keep you updated on the case as it unfolds. ARE SBF’S POLITICAL CONNECTIONS HELPING HIM AVOID PROSECUTION? OR WILL HE BE JAILED FOR A LONG TIME?
0:23

🚨BREAKING: PROSECUTORS DROP CAMPAIGN FINANCE CHARGE AGAINST FTX’S SAM BANKMAN-FRIED Federal prosecutors are dropping the charge that SBF violated campaign finance rules. SBF was charged with fraud and campaign finance violations after the sudden collapse of FTX, a crypto exchange. He was extradited from the Bahamas to face trial in a US federal court. However, officials in the Bahamas informed the government that they did not extradite SBF on the campaign finance charge. Late last night, the prosecutors filed to drop the charge, claiming that "in keeping with its treaty obligations to the Bahamas, the government does not intend to proceed to trial on the campaign contributions count." The accusations against SBF were that he was behind $90 million in campaign contributions to some 300 political candidates or political action committees. OTHER CHARGES REMAIN SBF is now facing seven charges in October relating to fraud. These include defrauding customers and lenders of FTX. It is alleged that SBF siphoned billions of dollars that customers had deposited with FTX. Other charges may yet result in an additional trial, but complications arise from litigation in the Bahamas over the extradition, which must be concluded before the US government can proceed. If convicted on the securities fraud and wire fraud charges, SBF faces the prospect of being sentenced to dozens of years in prison. We will keep you updated on the case as it unfolds. ARE SBF’S POLITICAL CONNECTIONS HELPING HIM AVOID PROSECUTION? OR WILL HE BE JAILED FOR A LONG TIME?

Mario Nawfal

6,353,837 Aufrufe • vor 3 Jahren

🚨Matthew Tyrmand claims Don Jr. is engaged in insider trading and using his position to execute crypto schemes with foreign governments to bribe Trump “He's been fucking stealing money by the billions. One of my missions to the next two years is to make sure he ends up in prison. Because he's stolen a fucking billion dollars from the American people. He’s an absolute fucking grifter. He's insider trading SPAC announcements. He's doing crypto schemes to get foreign governments to pay his crypto platform to bribe the president.”
1:23

🚨Matthew Tyrmand claims Don Jr. is engaged in insider trading and using his position to execute crypto schemes with foreign governments to bribe Trump “He's been fucking stealing money by the billions. One of my missions to the next two years is to make sure he ends up in prison. Because he's stolen a fucking billion dollars from the American people. He’s an absolute fucking grifter. He's insider trading SPAC announcements. He's doing crypto schemes to get foreign governments to pay his crypto platform to bribe the president.”

Chris Nelson 🏝️🇺🇸

208,847 Aufrufe • vor 6 Monaten

Warren Buffett’s behind-the-scenes story of the 2008 financial crisis. “Fear is extraordinarily contagious. And we saw that in September of 2008 like we’ve never seen it before in financial markets.” Lehman was days from bankruptcy. They reached out to Buffett looking for a lifeline. Buffett was on vacation in Alberta. So, he told them them to send a fax with the details and exactly what they wanted. But the fax never came. They had left a voicemail, on a flip phone he barely used…And Buffett’s daughter found the message a year later. Notably, 6 months earlier, in March 2008, Lehman had already approached him. He had printed out their 200-page annual report, read it cover to cover & passed. The numbers didn’t add up. While Lehman filed for bankruptcy, Buffett invested $5 billion into Goldman Sachs, on his terms: Preferred shares paying a 10% annual dividend, plus warrants to buy $5 billion more in Goldman stock at $115 per share. Berkshire ultimately made billions on the deal.
1:42

Warren Buffett’s behind-the-scenes story of the 2008 financial crisis. “Fear is extraordinarily contagious. And we saw that in September of 2008 like we’ve never seen it before in financial markets.” Lehman was days from bankruptcy. They reached out to Buffett looking for a lifeline. Buffett was on vacation in Alberta. So, he told them them to send a fax with the details and exactly what they wanted. But the fax never came. They had left a voicemail, on a flip phone he barely used…And Buffett’s daughter found the message a year later. Notably, 6 months earlier, in March 2008, Lehman had already approached him. He had printed out their 200-page annual report, read it cover to cover & passed. The numbers didn’t add up. While Lehman filed for bankruptcy, Buffett invested $5 billion into Goldman Sachs, on his terms: Preferred shares paying a 10% annual dividend, plus warrants to buy $5 billion more in Goldman stock at $115 per share. Berkshire ultimately made billions on the deal.

Investment Wisdom

25,075 Aufrufe • vor 9 Tagen

just spent 2 hours with mitch.. he has $5 million in his account.. he's never worked a day in his life.. yesterday he round tripped $60,000 in two hours and called it dinner money.. he's been banned from ??? for over a year and people are starting to forget him.. he's stuck at $2k on his anon trading wallet for a month.. and the most degen trader of the last cycle just told me what he thinks is next.. if mitch is saying that..
1:32:34

just spent 2 hours with mitch.. he has $5 million in his account.. he's never worked a day in his life.. yesterday he round tripped $60,000 in two hours and called it dinner money.. he's been banned from ??? for over a year and people are starting to forget him.. he's stuck at $2k on his anon trading wallet for a month.. and the most degen trader of the last cycle just told me what he thinks is next.. if mitch is saying that..

Antoine Rousseaux

161,875 Aufrufe • vor 3 Monaten

WATCH | A man travelled all the way from Spain to Zimbabwe after hiring private detectives to confirm his suspicions that his wife was cheating on him. He had been working in Spain while his wife stayed behind in Zimbabwe, and throughout this time, he had been faithfully sending money home to support his family. However, instead of using the money responsibly, his wife was allegedly spending it on her boyfriend, while their children were left in the care of a maid. The man expressed deep frustration and heartbreak, revealing that one of his children now resents him, believing he had not been sending any money home, unaware of how the funds were actually being used. Source: Matrix Zw
3:00

WATCH | A man travelled all the way from Spain to Zimbabwe after hiring private detectives to confirm his suspicions that his wife was cheating on him. He had been working in Spain while his wife stayed behind in Zimbabwe, and throughout this time, he had been faithfully sending money home to support his family. However, instead of using the money responsibly, his wife was allegedly spending it on her boyfriend, while their children were left in the care of a maid. The man expressed deep frustration and heartbreak, revealing that one of his children now resents him, believing he had not been sending any money home, unaware of how the funds were actually being used. Source: Matrix Zw

𝐂𝐫𝐢𝐦𝐞 𝐖𝐚𝐭𝐜𝐡 𝐙𝐖

317,743 Aufrufe • vor 1 Jahr

In 1988, Jim Simons flew to Berkeley to beg a math professor to fix his hedge fund. The professor had never traded a stock. He had spent his career on coding theory and mathematical board games. He agreed to help on the condition he could leave when he wanted. He delivered 55 percent net in his full year running it. Then he handed the whole thing back and went home to teach undergraduates. His name was Elwyn Berlekamp. He is one of two people who ever ran what would become the most profitable trading operation in history. Simons was the other one. MIT math PhD, 1964. Berlekamp wrote foundational papers in coding theory that still run every CD, DVD, satellite link, and QR code on Earth. The Berlekamp-Massey algorithm, published 1968, is why every scratched CD you owned still played through to the end. He also co-wrote "Winning Ways for Your Mathematical Plays" with John Conway and Richard Guy. Four volumes. It became the foundational text of combinatorial game theory. Berlekamp thought about board games the way most mathematicians think about theorems. He proved endgame results in Go that professional masters had assumed were unprovable. His 1994 book "Mathematical Go" reduced the last moves of a Go game to a formula. Top-ranked professionals started studying it. Simons had a problem in the late 1980s. His trading partnership was falling apart. The fund was losing money. He flew west to see the game theorist. Berlekamp bought a controlling stake, cut what was not working, and rebuilt the trading logic from combinatorial game theory principles. The fund returned 55 percent net after fees in his full year running it. In December 1990, Berlekamp sold his stake back to Simons and walked out. He wanted to go back to Berkeley. In interviews he said the same thing many times, in different words: Berkeley was where he belonged. Simons kept building on the system Berlekamp rebuilt. It became the Medallion Fund. Over the next 30 years, Medallion compounded at roughly 66 percent gross per year. It is the most profitable trading strategy in the history of finance. Berlekamp took his cut in 1990 and never went back. He spent the rest of his life at UC Berkeley. He gave a lecture called "Mathematics and Go" that is on YouTube. He died in 2019, aged 78. The paradox is not that Berlekamp made a fortune. It is that he had the door to the biggest fortune in trading history held open for him and walked out. The math was fun. The billions were not.
25:06

In 1988, Jim Simons flew to Berkeley to beg a math professor to fix his hedge fund. The professor had never traded a stock. He had spent his career on coding theory and mathematical board games. He agreed to help on the condition he could leave when he wanted. He delivered 55 percent net in his full year running it. Then he handed the whole thing back and went home to teach undergraduates. His name was Elwyn Berlekamp. He is one of two people who ever ran what would become the most profitable trading operation in history. Simons was the other one. MIT math PhD, 1964. Berlekamp wrote foundational papers in coding theory that still run every CD, DVD, satellite link, and QR code on Earth. The Berlekamp-Massey algorithm, published 1968, is why every scratched CD you owned still played through to the end. He also co-wrote "Winning Ways for Your Mathematical Plays" with John Conway and Richard Guy. Four volumes. It became the foundational text of combinatorial game theory. Berlekamp thought about board games the way most mathematicians think about theorems. He proved endgame results in Go that professional masters had assumed were unprovable. His 1994 book "Mathematical Go" reduced the last moves of a Go game to a formula. Top-ranked professionals started studying it. Simons had a problem in the late 1980s. His trading partnership was falling apart. The fund was losing money. He flew west to see the game theorist. Berlekamp bought a controlling stake, cut what was not working, and rebuilt the trading logic from combinatorial game theory principles. The fund returned 55 percent net after fees in his full year running it. In December 1990, Berlekamp sold his stake back to Simons and walked out. He wanted to go back to Berkeley. In interviews he said the same thing many times, in different words: Berkeley was where he belonged. Simons kept building on the system Berlekamp rebuilt. It became the Medallion Fund. Over the next 30 years, Medallion compounded at roughly 66 percent gross per year. It is the most profitable trading strategy in the history of finance. Berlekamp took his cut in 1990 and never went back. He spent the rest of his life at UC Berkeley. He gave a lecture called "Mathematics and Go" that is on YouTube. He died in 2019, aged 78. The paradox is not that Berlekamp made a fortune. It is that he had the door to the biggest fortune in trading history held open for him and walked out. The math was fun. The billions were not.

Veles

72,810 Aufrufe • vor 24 Tagen

A man invested $53,000 of his family's savings into a dying video game store. Hedge funds laughed. He turned it into $48 MILLION and made Wall Street beg Congress to stop him. > Keith Gill was a 34 year old financial analyst at a Boston insurance firm in 2019. His salary was ordinary but his conviction was not. > He believed GameStop, a struggling mall video game retailer trading at $5 a share, was one of the most undervalued companies in America. > Wall Street disagreed. Hedge funds had shorted the stock so aggressively that more shares were shorted than actually existed. They were certain it was going to zero. > Gill invested $53,000 of his family's savings and started posting his analysis online under the name DeepFuckingValue on Reddit and Roaring Kitty on YouTube. > Nobody took him seriously. He kept posting anyway, week after week, with nothing but spreadsheets and conviction. > In January 2021 retail traders on Reddit's WallStreetBets discovered his posts. > They started buying. The stock went from $5 to $483 in three weeks. A 9,600% move. > Hedge funds that shorted the stock lost BILLIONS. One firm alone lost $6.8 BILLIO and had to be bailed out by other hedge funds. > By January 27 2021 Gill's $53,000 investment was worth $48 MILLION. > He lost $13 MILLION in a single day when the stock fell. He held anyway, without flinching, without selling a share. > Robinhood restricted buying of GameStop without warning. Retail traders were furious. Congress summoned Gill to testify. > He showed up in his Roaring Kitty headband and said three words that became the most quoted phrase in finance that year: "I like the stock." > His employer fired him and paid a $4 MILLION fine for failing to supervise his trading. > He went quiet for three years. Then in May 2024 he posted a single image on X. GameStop surged 50% the next morning before he said a word. > By June 2024 his position was worth $289 MILLION. > A Hollywood film called Dumb Money was made about the saga, starring Paul Dano. He has never spoken publicly about it. He invested $53,000 into a stock Wall Street had already written off for dead. Hedge funds lost BILLIONS.
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A man invested $53,000 of his family's savings into a dying video game store. Hedge funds laughed. He turned it into $48 MILLION and made Wall Street beg Congress to stop him. > Keith Gill was a 34 year old financial analyst at a Boston insurance firm in 2019. His salary was ordinary but his conviction was not. > He believed GameStop, a struggling mall video game retailer trading at $5 a share, was one of the most undervalued companies in America. > Wall Street disagreed. Hedge funds had shorted the stock so aggressively that more shares were shorted than actually existed. They were certain it was going to zero. > Gill invested $53,000 of his family's savings and started posting his analysis online under the name DeepFuckingValue on Reddit and Roaring Kitty on YouTube. > Nobody took him seriously. He kept posting anyway, week after week, with nothing but spreadsheets and conviction. > In January 2021 retail traders on Reddit's WallStreetBets discovered his posts. > They started buying. The stock went from $5 to $483 in three weeks. A 9,600% move. > Hedge funds that shorted the stock lost BILLIONS. One firm alone lost $6.8 BILLIO and had to be bailed out by other hedge funds. > By January 27 2021 Gill's $53,000 investment was worth $48 MILLION. > He lost $13 MILLION in a single day when the stock fell. He held anyway, without flinching, without selling a share. > Robinhood restricted buying of GameStop without warning. Retail traders were furious. Congress summoned Gill to testify. > He showed up in his Roaring Kitty headband and said three words that became the most quoted phrase in finance that year: "I like the stock." > His employer fired him and paid a $4 MILLION fine for failing to supervise his trading. > He went quiet for three years. Then in May 2024 he posted a single image on X. GameStop surged 50% the next morning before he said a word. > By June 2024 his position was worth $289 MILLION. > A Hollywood film called Dumb Money was made about the saga, starring Paul Dano. He has never spoken publicly about it. He invested $53,000 into a stock Wall Street had already written off for dead. Hedge funds lost BILLIONS.

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