Criminal Investigation Into Short Selling!
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- เผยแพร่เมื่อ 3 ต.ค. 2024
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US criminal authorities are gathering information on contacts among dozens of short selling hedge funds and research outfits as they investigate possible trading abuses by hedge funds. This comes after complaints from GameStop and AMC Shareholders.
The Department of Justice has sent subpoenas asking for information about a list of more than two dozen firms to a smaller group of market participants. Among other things, they are asking for calendar information and communications.
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How is shorting improves liquidity if the main goal for hedgefunds is to never close their short positions and post them as a collateral ? Look at sears, they didnt closed their shorts for years and now its going up 50,000% on some days,
Hi Patrick, hope you’re doing ok! You look a bit tired! Hope you’re taking care and resting well too! Thanks for the amazing content! 😊
It ain’t free! It weighs you down.
Thank you thank you I’ll be here all night.
One gripe though, around ~12:30ish he mentions he says that short sales demonstrate better corporate governance by keeping mgmt in check. But this is merely correlation, and we know that correlation and causation are not the same. Though I too tend to agree that short selling is good for retail participants/the market as a whole, I wouldn’t go as far as saying mgmt watch’s the short interest/float as a barometer of whether people are catching onto their shenanigan’s.
@@BarredTrader Nearly all shorts get covered. Going for 0 is not a mainstream strategy.
"... the gravity powered truck maker Nikola." Classic. Worth the whole video. 🤣🤣🤣
BRILLIANT, DONALD. SOME NUMBSCULLS WOULD FALL FOR THAT TRICK TOO...he he he
Brilliant 🤣
It is now BHEV powered. Management has changed. The Hydrogen powertrain is making progress.
We call that pulling a Milton
His dry humor is so spot on 😂
You get my like just for the "gravity-powered truck maker, Nikola"
Yes!! I paused the video to say something similar.
That's pure gold...
Me too. He is always good for some serious faced joking
I love how straight-faced he said it.
Pure savagery.
The Dept Of Justice is having difficulty talking to Andrew, every time they call, they're told "Andrews Left".
The internet is not ready for your joke yet .
“The gravity-powered truck maker Nicola”. If they’d branded themselves that way they’d own Tesla today. Who doesn’t like gravity as a power source? Gravity is literally free.
Who controls the gravity controls the time
@@Rikimkigsck So Nikola trucks are actually rolling, but we just cant see them yet?
I was drinking when he said that. Nearly choked. I’m suing him.
Then they'd have to call it Newton, not Nikola.
Looks like TH-cam has also banned short selling with its disabling of the dislike button.
"Had he not been shaken out; his short bet would have eventually paid off." The Dutch East India Company did eventually collapse, but that happened 200 years later." Isaac Le Maire could have waited for 200 years to get his profits but he was too 'shaken'. Patrick Boyle's humor is out of our league. GOOD ONE KUDOS!
Frauds are pretty exceptional. My issue is that short sellers operate in groups and push company share prices much lower than the fundamentals would justify. They knock out stops on the way down and frighten ordinary investors out of their positions. They employ a lot of dirty tricks in the process. In many cases the net result is that ordinary investors get shafted. I suspect it's that activity that will be the focus of the DOJ.
The mistake the short sellers was not first being elected to the US Congress.
Shut up
Alton is winning 40 to your 3 likes. Which Congress person are you?
they are already paid off by SS so what does it matter?
@@samsonsoturian6013 Nancy? Is that you?
@@davesprivatelounge shut up and get drafted, punk.
All I’m saying is that Interwar Germany, Imperial Japan, and Dictatorial Korea had great bull markets after they banned selling… just don’t ask what happened afterwards.
Nice job, Patrick. I've always wondered about the positive aspects of short selling, and you've clarified it nicely.
The naked shorting part 🤣🤣 Patrick your humour kicks my ass
Thanks so much for your great content and good laughs
I love how you keep such a straight face when calling Nikola Motors "Gravity Powered" hahaha. Great video as always Patrick!
Short Selling to me is fine, but when some firm that is already short on a company's' stock decides to bash a company(regardless of truth) to me there is ABSOLUTELY no difference than someone pumping up a company while they bought in low and dumping the stock during the frenzy. There SHOULD be fair and equal punishment for both scenarios.
A short sellers pathetic argument is "we re just trying to protect investors". Absurd. No one held a gun to my head to buy or invest in a company, but you sure pull the trigger on a gun when you come out with your ridiculous short selling attitude after that person and their friends have already shorted that symbol.
Therein lies the problem, its a lot easier to crash a company than to pump a company, or put another way stock go down a lot faster than they go up so on balance I have to disagree with you.
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Everybody loves a show-off ! 😁
Nearly perfect timing, I'm about to eat my supper.
Another great educational video on finance by Patrick. Why do CEOs blame poor stock performance to shorts, but don't attribute good performance to longs?
The CEOs obviously attribute increasing stock prices to themselves, thus explaining why they deserve a huge bonus for "Performance". And a falling price on somebody, anybody so they can still try to convince stockholders that they deserve one last bonus before the company collapses.
Thanks Patrick! I always learn something from you.
I always take away something new when listening to your view on the current haps. Thank Patrick, keep up the good work
Thank you I do appreciate your knowledge. When short selling is done as intended fine but what we see to often is sales without locating and delivering on time. Also the short data reported in NA is 15 days behind and voluntary from what I understand. Also the I do believe selling a Call creates a negative delta and is then another way of shorting I followed one expiration for a year. The stock trades down over the course of the year from around 40 to 15 the Call Strike was 145. The OI never declined and just grew and grew reaching 211K Contracts on expiration. So….
Very interesting video. Keep up the good work.
Are you gonna talk about short selling is widely abused? How market makets, prime brokers mark short sales as long sales?
How they sell shares to investors without actually ever borrowing and have no intention of delivering the shares they sold?
How in some cases a company shares are traded by the millions but should be imposible, because all the shares are already owned by an investor?
Example would be the ceo who purchased all the shares of his company thru his brokerage account + extra shares (that should not exist)
Yet still have millions of shares continue to trade everyday
Why don't they investigate the politicians clearly doing insider trading?
The investigations and subpoenas (going nowhere and leading to no indictments) feel like politically motivated intimidation tactics against well known short sellers, who are a constant annoyance to large corporations
This kind of sounded like a cautious, measured, polite, way of saying: “for the retail investor, the market is rigged.”
How? Because they allow short selling?
@@fransliszt Not the short selling is the problem.
It´s the blatantly NAKED short selling
Thank you Patrick!
Mr.Patric thank you for your insightful updates. Please continue. Waiting excensely for your content.
Learned a lot from this channel. Thanks man 🙏🏼
I can see how short selling is potentially good for price discovery but just like normal buying it is being abused,
Spreading false information good and bad to drive price up and down at their own will to take profits away from retail investors is criminal and is simply turning investing into gambling especially when someone needs to invest a large sum of money and needs to get it into the market at fair value with minimum if fuss.
Funny, this reminds me of fighting in the NHL. Fighting in hockey actually reduces injuries, because it disincentivizes the bigger players targeting the smaller, higher skilled players. If an enforcer knows that targeting the other teams higher skilled forwards is going to result in him getting punched out by the other team's enforcer, he's less likely to target the scoring players for harder and more dangerous hits. If fighting was punished more severely, players would be more hesitant to engage in fights, and there would be less consequences for dangerous hits on smaller players.
What an incredibly backwards way of thinking. Here's an idea: ban fighting, then have 0 injuries from fighting.
@@wizard7314 it really does seem counterintuitive, doesn’t it? But here’s the thing: people don’t get hurt badly from fighting. They might get a black eye every now and then, but nothing that would shorten their career or even cause them to miss any playing time. They DO get injured from dangerous cross checks and things like getting smashed into the boards from behind when they aren’t looking. Those are the kind of hits that cause concussions and career-ending injuries. Those kinds of hits are less prevalent when a player knows he’s going to get a fist in his face from an opposing player if he does it.
As always, very interesting! I’m not interested in short selling myself, but now i’m curious to see how my country regulates them.
Is good that you're not interested in short selling yourself. You should never short sell yourself. This is the one case where you should not be bearish, regardless of the actual performance. This is the only time I can agree with the hodlers.
I've been sticking with Dividend Growth mutual funds lately, on the grounds that a company has to earn money in order to pay dividends for any length of time, thus avoiding the volatility of the gravity-powered truck industry.
Hi Pat, love your style and always enjoy your videos. Even subscribed to the Upside on your recommendation.
Thank you Patrick, very informative video, with a lot of theoretical and practical facts.
Good work Patrick,
This is very important to follow up!!!!
Pretty sure Billy Ackman got on CNBC in 2020 and said the end of time were coming and had a significant short position against the broader market. Also great Nikola Truck joke! First gravity powered truck company
Criminals? Stock market?
SHOCKING!!
Nice lesson; thank-you. Nice looking champagne/wine in the background, by the way.
Most people don't like short selling because it seems wrong to profit from someone's failure? No.
The problem with short selling is it gives the short owner **incentive** to work against someone else's successes.
They're related, sure, but there's a difference.
If there was no risk of false bias in the information and actions of the shorts, then all would be golden. But that's just not human nature.
Longs have an incentive to manipulate markets too, just look at all the propaganda and disinformation pumping up crypto.
Exactly, you need to balance out the long propaganda.
Same goes for the long side. This is why there are so many bubbles and frauds as described in the video. Everyone working for the long side, hyping the fraud.
Thank you
5:16 "easier to find stocks likely to rise than to fall"- somehow many of my long positions beg to differ 😄😄😢😖
Personally from my experience. I can consistently buy long and watch the price fall or sell short and watch the price rise. Rather than accurately predict the results in my benefit. Seriously someone could clean up just by doing the opposite to whatever I do. Thank God I only use play money.
The problem is everyone will naturally look out for their own interests, even more so when you have a bunch of subscribers with high expectations for their hard earned money. These short sellers are basically looking to snowball their calls whether they are true or not and this inevitably leads to illicit methods of getting results.
Yes, shorting itself is not a problem. Nonsense they spread without consequences is. They attack weak targets, so they manage to harm or kill startups slowing down growth. Of course they do catch some scammers.
Thanks Pat!
Who are these countries that ban short selling and what other major market factors might they have in common? I’m guessing most of them are fairly authoritarian.
South Korea ... it's not just authoritarian, it's very worried about retail mobbing and retail over investment. Why did China ban short selling ? Because retails are so large, so over invested, and so angry when they lose money to a fraud that they prefer nobody benefit from the fraud and probably nobody discovers it. If it can't be helped, they prefer to fix it in secret. Short selling is what pays for the luckin coffee crazy investigation - given the people involved, it was a homerun but nobody wanted to say it because it was hyping...
excellent! Thank you
if spreading rumors to talk up how great a bad stock is called pump and dump, then how do you call spreading rumors to talk down how terrible a good stock is?
Its called "short and distort" as in distort the facts
Thank you
David Mayor really knows his way around trading, its evident from his deep knowledge of how the market works, reading signals to perfection, i feel very safe trading with him.
How money works got me hooked on this channel
Short and longs aren't supposed to be "BETS", they're meant to be "hedges". Just gambling.
Stocks is smart gambling. Smart money.
Great video Patrick, short seller's are often portrayed as the vultures of the stock market without much of a counterbalancing voice
I mean, they are the vultures of the economy. It is just that vultures also play a use. When the vultures start pecking at living beings or are able to abuse systems that is where problems arise.
Your videos are brilliant! Thanks!
a camera with eye autofocus would really be a gamechanger for your channel!
When I finish watching this video, I will go back to studying skewness and kurtosis risks in Patrick's book.
I like the new background! It is a great improvement. You can still do more with lightning. Film Booth is a cool channel that can provide some quick tricks! Ciao
SEC are indeed financial anthropologists..in a coma. Nice one, Patrick.
I feel short selling should stay fully legal and that critics of it are busy lucking the boot of their favorite corporation.
Are they investigating Elon Musk for "pump and dump"?
Outstanding work. Your sense of irony is a delight.
Historically, many have enjoyed "clothing optional" Bernard Baruch and Jesse Livermore come immediately to mind.
Retail doesn’t have an issue with short selling. It’s naked short selling through variance swaps that they have an issue with.
I.e GME 200%+ short according the SEC report.
Patrick has already shown that there were no evidence of naked short selling on GME. A stock can be borrowed several times and you end up with unusual short % in some cases. Conspiracy is easier than having to digest loads of (sometimes complicated) information.Take a look at his videos he has great insight.
This bothers me so much. Everyone talks about short selling, but it's the NAKED short selling that is criminal. It's like counterfeiting stocks, robbing both retail investors and the company issuing the stock. You're allowed to have a pessimistic outlook on the market. If you're covered, no problem. If you deliver, no problem. If you're counting on busting out companies by diluting their shares and never covering your naked positions for that sweet bankruptcy jackpot tax free unrealized, there's a HUGE FUCKING PROBLEM
That's a nice Moët collection!
I'm mostly here for the epic B-roll, like 2:48 and 5:52
How can you not publish negative research?
Short sellers are the wolves in the financial ecosystem. They perform roughly the same function for companies that predators do for prey animals - cutting out the weak and sick - and in the case of companies, cutting out the criminals as well.
And transferring money out of those criminal hands directly into more honest hands, in a very efficient manner.
if done right, short selling research can add value to retail investors not stock promotions
Oh dear.
Loved it! Thanks.
Nikola should rebrand itself as gravity.
As long as The FED is in charge, there are no more investments only speculation. Proceed with caution.
I dont realy get it, why would you lend out shares to a shortseller? why not just say no and shortsell yourself?
The trouble with shorting a stock is all the profit comes from those who truly believe that the stock price is going up. It can take them a looooong time to see the light, and in the meantime the short seller can go broke waiting.
Casually put the wardrobe joke in there, love it 😂
?? Could you please give us an update on this??
Here's another argument against shorting: Who is more likely to make money using it? The stock pumper or the guy looking for pumps? The pumper ofcourse because he knows when his manipulation will end so he's in less risk of margin calls.
The issue I have is when short-selling firms cannot find misconduct, or a legitimate reason that would cause a company's stock price to fall, they publish knowingly false research reports that justify their short positions and cause a mass selling event. Then legally hide behind "statement of opinion," after committing blatant market manipulation.
I agree this is bad. As bad a people claiming a company they own shares in will do incredible things and the price goes up. Like vacuum tunnels, solar tiles, we can do this now trucks, humans in suits -
Caveat Emptor
So the Trading Places guys would have gone to prison, they didn't own the frozen concentrated orange juice that they sold.
SEC didn't want to do hard work of working so no Big Money companies is guilty of any wrong doing!!
Great video. It"s about time some action was taken. Amazes me how fast action was taken against Wall Street Bets - yet so slow for Fudster Hedgies and Naked Shorts.
I was missing your vids so much .. thank you 😊
The investigations would likely come up empty. Experienced short sellers would not create any record for asking and paying anyone to create bad press. Talks would be verbal and payments would be by prepaid credit or debit cards or oversea transfer from homeless nobody on streets.
You still seem to stick up for the entities short on Gamestop, how is 200%+ anywhere near reasonable? How was disabling the buy button reasonable? These funds are over short on many stocks for profit and manipulation. They short pharmaceutical companies to stomp out competition
The SEC……isn’t that a Southern college football league?
The content is great but I think the ideea for the new place to make your recordings is brilliant.;).You have all the antidots for a ''red day'' behind you....
If you are a long-term investor with no significant leverage, then you shouldn't care if the stock price drops due to short activity, in fact this actually benefits you. However, if you are concerned about reputational damage caused to a firm by a short campaign, this could be a legitimate concern depending on the industry.
Unless they make it impossible for a company to get out of debt, destroy supply and demand, release slander, and artificially dilute a company to fill their own coffers
thankyou for your very clear idications of sponsers, before, and when it is shown, as if it's not obvious enough.
don't wanna be breaking any offcom laws!
but if you could indicate when you're talking opinion instead of news/facts, that'd be even more informative
So what's illegal about contacts between short sellers and bearish researchers? I always assumed those two groups worked hand in glove and that they were often the same person.
How can the small investor invest in short selling in the same way that they can buy shares in a company?
An overachiever always sells himself short.
I feel better about losing out when Shorting NKLA too soon. At least I wasn't a hundred years too soon. Still lost, but only by a couple months.
So you slide into a short position and push the price lower, combined with bearish research articles, fomenting the market downturn. Then when you buy back you route the buys into dark pools with no price impact.
Yeah that’s not price discovery mate. If all trades went to lit exchanges then it would be.
Nobody is talking about market impact manipulation, astounding..
Short selling can have unlimited moves against you. There is no limit to rising prices but there is a limit to max profit potential in a short position since zero is the minimum price. While going long you can only go down to a zero stock price.
Id say it's a pretty smooth ride to zero with the payment for order flow combined with the darkpool. Naked shorts are pretty good boosters If the stock starts getting stubborn.
True a price can only go to zero but if you regularly rebalance your short position by reinvesting profits each day (or however often you want) as the underlying price drops by borrowing and selling more shares equal to the amount of profits gained since the last rebalancing, your profit can compound many multiples of the original short amount.
@@jonnysantos5074 Exactly, manipulation to basically take down a company.
I've made a ton shorting Chinese Solar in the U.S. exchanges. They are leaving the exchanges and moving to Shanghai and Hong Kong where their valuations are much more higher. Find companies that people hate even if they make money and short them.
Isn't among the companies investigated now the same outfit that was fined and sanctioned by Hongkong regulators when they published critical research about Evergrande, only to be found correct about their warnings??
And the Hongkong regulators never retracted their sanctions or in any other form acknowledged that they were wrong.
Muddy Waters and Melvin Capital should not be mentioned in the same sentence.. Carson Block is public about almost everything they do. In fact, they have a TH-cam Channel dedicated to Short Selling.
Which one
Well. Good think they stopped people from shorting Wirecard... 🙄
amazing video thank you so much I like the part on the East India Company thanks
looks like 1 day's worth of alcohol in the background
Why is it that almost no one talks about how short selling helps to create a floor in a stock price on the way down? You said it in a round about way, but not directly.
Fantastic content! Very interesting news and it will be interesting to see how the future unfolds for them. Gotta love the SEC