



Satsduck
7.6K posts

@Satsduck
Sats for the duck are good luck; airdrop enjoyooooor







BREAKING: Prime Minister Mark Carney says Canada's relationship with the U.S. has "become a weakness"





Don't trust Bill Ackman. This is the same guy that went on CNBC during COVID, spoke for 28 minutes fear mongering about how America would "end as we know it," advocated for a full government shutdown, tanked the Dow 1,300 points, and then cashed out a $2.6 billion hedge and bought the exact bottom with the proceeds. Here's how he pulled it off: > Ackman spent $27 million on credit default swaps covering $65–75 billion in notional exposure when credit spreads were near all-time tights. That's 2,400-to-1 leverage with zero margin call risk. If nothing happened, he burned 0.3% of his fund. > His colleagues thought he was a "lunatic" when he started pulling cash from ATMs in late January 2020. He sent his entire team home on February 27, one day before the WHO raised COVID-19's threat level to "very high." > On March 18, he called into CNBC's Halftime Report, appeared to be fighting back tears talking about his immunocompromised father, and warned that hotels, restaurants, and Boeing would all go bankrupt. Mike Novogratz tweeted asking CNBC to get him off the air before people started jumping off bridges. > Five days later, on March 23, Ackman exited the entire CDS position for $2.6 billion. March 23 was the exact day the Fed announced unlimited QE and markets hit their absolute bottom. > He immediately used the $2.6 billion to buy Hilton, Lowe's, Starbucks, Berkshire Hathaway, and Restaurant Brands. He was buying Hilton, the same company he'd told viewers five days earlier could go to zero. > Ackman later blamed CNBC, saying they cherry-picked 15 seconds of a 30 minute interview to scare people while his actual message was bullish. > Pershing Square ended 2020 up 70%. Harvard Business School turned the whole episode into a case study. Investec analysts called it "arguably the greatest trade the UK closed-end industry has ever witnessed."

And Fannie and Freddie are stupidly cheap. Asymmetry at its best. They could be a 10X and it could happen soon.











