On the morning of the 28th, Hong Hao, Managing Director and Head of Research Department of CBI, issued a Weibo repost introducing Chamath Palihapitiya, a representative of US retail investors and CEO of Social Capital, to tongue-lashing CNBC hosts and responding brilliantly to his lead in leading US retail investors to buy GameStop (code GME), the following is the full text of the Weibo repost.
The highlight of the day came when CNBC invited Chamath on TV to start a discussion (those who don’t know Chamath must wiki it, this era is definitely no longer Warren Buffett’s era, but belongs to people like Musk and Chamath. (Whether you agree or not, that’s what the new generation of young people think). CNBC wants to morally grill Chamath and take the heat off the rebellious group.
I don’t think the best words can describe the brilliance of Chamath’s mouth-blading CNBC host on TV. I hope readers who have the means to do so will watch the interview, which is about 20 minutes long. I’ll summarize a little, but, my summary is far from being able to restore the excitement of what happened.
1, GME stock price soared because this stock was shorted by institutions 140%, what makes it possible to 40% more? If it weren’t for Wall Street institutions using tools that retail investors can’t use every day, how could it be 40% more while being caught short by retail investors? Perfect.
2, the level of research on the forum, many of them are comparable to the level of hedge fund research (which I also recognize), why can not the retail investors to buy and sell based on these studies?
3, the quantitative funds on Wall Street (specify Renaissance), simply do not look at the fundamentals to buy and sell, why they do not look at the fundamentals can not be blamed, while the retail investors do not look at the fundamentals to be blamed? Perfect.
4, from the history of tesla (864.16,-18.93,-2.14%) stock price, all hedge funds are wrong and all retail investors are right, why do hedge funds have to be right than retail investors? Perfect.
5, hedge funds are only open to large investors and not open to retail investors, and now retail investors are dissatisfied with the money to limit the retail investors, why? Still perfect.
I thought it was a moral question for retail investors, but it ended up being a question for the soul of the establishment! Brilliant.
Chamath also made it very clear that the market neutral principle (market neutral) funds rely on $1 billion of principal, you can get the brokerage $ 10 billion of leverage, these are the advantages of retail investors do not have. Wall Street relies on secrecy, on good dinners, on hooking up with each other to monopolize the investment market. And the forum discussions are transparent, and these are the things Wall Street should learn.
No more drama, you can see for yourself.
A Trump of the financial world, across the board.
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