Biggest loser, Masayoshi Son

Pekelo

Pekelo

What is 3 trillion Japanese yen quarterly loss between friends? I say, a rounding error:

https://www.cnbc.com/2022/08/08/softbank-vision-fund-posts-a-21point6-billion-quarterly-loss-.html

"The Japanese giant’s Vision Fund posted a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter. This is the second-largest quarterly loss for the Vision Fund.

That contributed to a 3.16 trillion yen net loss for the quarter for SoftBank versus a 761.5 billion yen profit in the same period last year. That is a record quarterly loss for the company.

Masayoshi Son, SoftBank’s outspoken founder and the mastermind behind the Vision Fund, said in May the company would go into “defense” mode and be more “conservative” with the pace of investments after posting a record 3.5 trillion Japanese yen loss at the investment unit for the last fiscal year."

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This is the same genius who gave WeWork 5 Billion bucks because that was a "tech" company. WeWork sucked up 12.5 B venture capital over the years, the current market cap is around 5-6 Billion. I advise everyone to watch WeCrash, the Apple+ TV series, it is excellent.
 
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Pekelo said:
Sure but it is still not too nice to be in the Guinness Book of Hedge Funds with the biggest loss. :)
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What about all the previous blockbuster accomplishments he's achieved? They don't count any more??
 
SoftBank's LVLD "corner" strategy would have worked had it persisted for a few more months and we'd be looking at a trillion dollar fund.
 
schizo said:
What about all the previous blockbuster accomplishments he's achieved? They don't count any more??
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Schizo, come on! You know how this business works. You can make a thousand brilliant profitable calls. The one BAD call is the one everyone focuses on, and makes them a loser. Look at how everyone is treading Wood. (Although granted, she uses manipulative language to garner interest in her fund, but I digress).
 
Pekelo said:
What is 3 trillion Japanese yen quarterly loss between friends? I say, a rounding error:

https://www.cnbc.com/2022/08/08/softbank-vision-fund-posts-a-21point6-billion-quarterly-loss-.html

"The Japanese giant’s Vision Fund posted a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter. This is the second-largest quarterly loss for the Vision Fund.

That contributed to a 3.16 trillion yen net loss for the quarter for SoftBank versus a 761.5 billion yen profit in the same period last year. That is a record quarterly loss for the company.

Masayoshi Son, SoftBank’s outspoken founder and the mastermind behind the Vision Fund, said in May the company would go into “defense” mode and be more “conservative” with the pace of investments after posting a record 3.5 trillion Japanese yen loss at the investment unit for the last fiscal year."

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This is the same genius who gave WeWork 5 Billion bucks because that was a "tech" company. WeWork sucked up 12.5 B venture capital over the years, the current market cap is around 5-6 Billion. I advise everyone to watch WeCrash, the Apple+ TV series, it is excellent.
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They managed to add insult to injury with an operating loss as well.
 
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Overnight said:
Schizo, come on! You know how this business works. You can make a thousand brilliant profitable calls. The one BAD call is the one everyone focuses on, and makes them a loser. Look at how everyone is treading Wood. (Although granted, she uses manipulative language to garner interest in her fund, but I digress).
More...
I read this quote today, which I find most fitting:

Rich is transient, wealth is enduring.
 
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