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of course she didn’t. It’s not in her mandate. lots of people make money catering to investors forever. Every mutual fund does this: Literally hundreds of trillions of dollars worth of investors. Bill hwang is different. He was actually trying to generate alpha and was extra levered...

the 65bn included fabricated gains. Real fraud was 18bn. It’s clearly stated in the wiki.

what do you expect her to do? she’s running a business. Does coke ever say “Pepsi tastes better”

Actually he stole 20bn and most has been recovered. https://www.wyff4.com/amp/article/5-things-to-know-bernie-madoff-scam/36124939

If I were 2/20 on 56 billion I wouldn’t be on elitetrader.

that is the business. In another thread I mentioned that when you understand ark you understand Wall Street.

I don’t think he did. I think he claimed to have 10bn but the actual losses were pretty small. In any case I was wrong about cathie. She raised 54 billion. And while madoff was a fraud, cathie has a legitimate highly successful business catering to a specific investor class.

actually someone I heard speak who did say this. His words were something like “you have a bunch of people building a financial system who don’t understand a financial system.” It was a surprisingly honest comment from a guy who had made millions building and selling crypto startups and was now...

https://www.google.com/search?q=arkk+fees&rlz=1C1SQJL_enUS853US853&oq=arrk+fees&aqs=chrome.1.69i57j0i13l2j0i13i30j0i5i13i30j0i8i13i30j0i8i10i13i30j0i8i13i30j0i390l2.2417j0j7&sourceid=chrome&ie=UTF-8

No. Because it’s not the asset exposure I want.

she is a genius. She raised 12billion aum and is getting 75 bps.

what might succeed may not have been developed yet. Block chain and crypto will change the world.

yeah. You can’t have a hundred currencies doing different things. One or two has to win everything.

Cryptos aren’t investments. It’s dotcom speculation. One will become Amazon and another will become google. Most will become pets.com.

how well does Bitcoin work when the power goes out?

theres a nice John Oliver segment on unions and police training. Basically both promote and protect the idea of a Rambo cop.

I agree on the financialization of our economy. I think web3 is going to take it to a new level.

at the Greenwich car show a few years ago an authentic KGB car was accepted snd sitting next to multi million dollar Bugatti’s.

germany has a strong culture that you train for a job and that becomes your career, even at menial levels. That doesn’t exist in the US. No one joins an Amazon warehouse expecting to work there for life. In Germany, you would be an apprentice for 2 years before getting that role.

but CIO means something different here than a hedge fund.