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doogie
doogie Member Posts: 15,072
edited May 2022 in Tug Tavern
“... the night before the Archegos Capital story burst into public view late last month, the fund’s biggest prime broker quietly unloaded some of its risky positions to hedge funds, people with knowledge of the trades told CNBC."


https://www.zerohedge.com/markets/gigantic-clusterfk-how-morgan-stanley-avoided-10bn-archegos-losses-selling-first
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Comments

  • godawgst
    godawgst Member, Swaye's Wigwam Posts: 2,554 Swaye's Wigwam
    Morgan Stanley did get out (saving themselves 25 points on their share price, not to mention a 5% correction in the market the last 2 weeks) but there are some really po'd hedge funds that aren't going to forget along with regulators and attorneys tuning up the band from the legal side of things.
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  • DawgOfTheAges
    DawgOfTheAges Member, Swaye's Wigwam Posts: 1,754 Founders Club
    edited April 2021
    It's an old story... it's hard to not know what you now know, and to then not act on what you know. Congressional leaders and policy makers have the same issues with the same outcomes.
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  • creepycoug
    creepycoug Member Posts: 24,068
    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....
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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,347 Founders Club
    creepycoug said:

    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....

    No, but I'm sure there's an explanation that only makes sense for those involved to sort out behind closed doors.
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  • doogie
    doogie Member Posts: 15,072
    creepycoug said:

    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....


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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,126 Standard Supporter
    doogie said:

    creepycoug said:

    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....


    Cramer was sporting a boner this morning for Jamie Dimon's manifesto on the free market and equality.

    So, for sure, Dimon was doing some shady shit if he's got the PR machine running at full bore.

    Fuck bankers.

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  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,112 Founders Club
    Chase is not your friend
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