Financial SCANDAL!! I Can't Believe This Happened?!
Hey Guys,
Happy Sunday to you all! Just got back in London and already getting the content out!
In my video today, I want to look at one of the most unbelievable financial scandals of the year. One that saw a billionaire and his banker backers caught in a short squeeze of Epic proportions. Think GameStop x 10.
However, unlike a videogame stock, this was in the market for one of the most important commodities in the world. A commodity that is used in everything from batteries to coins and turbine blades.
Apart from the fact that this can actually happen in such a massive market, the real scandal is in how centralised financial players reacted to the events. Unlike on other occasions when markets have been stopped, in this case the exchange reversed an entire day of trading. It really was one of the most unprecedented moves we have yet seen.
In my video, I will take you through the recent LME nickel scandal and explain exactly what happened and how it could happen. I also delve into the actions taking by the exchange which some viewed as choosing winners and losers and bailing the losers out.
So, sit back, relax and enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
Bloomberg Story on Short: https://www.bloomberg.com/news/articl...
The 'Big Shot' Story: https://www.ft.com/content/2cb73138-2...
Questions on Ownership: https://www.wsj.com/articles/a-chines...
Clifford Asness Tweet: https://twitter.com/CliffordAsness/st...
Building up Stockpiles: https://www.bloomberg.com/news/articl...
He Want's to Keep Shorting: https://www.bloomberg.com/news/articl...
Covered Part of Trade: https://www.bloomberg.com/news/articl...
Short Squeeze: https://www.investopedia.com/terms/s/...
Interview with LME CEO: https://www.bloomberg.com/news/videos...
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
