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결론: 영상은 시장 조작 기법을 설명하는 과거 인터뷰/강연 발췌이며, 특정 자산의 미래 가격 방향에 대한 예측은 없음. [영상 성격] - 2017년 9월 11일자로 표기된 영상이나, 내용은 2000년대 초 헤지펀드 운용 경험담으로 보임. - 제목은 '시장 조작 방법'이며, 화자는 헤지펀드 운용 시절의 불법적 시세조종 관행을 회고하는 형식. [주장 1: 선물 시장 조작] - 공매도 포지션을 보유했을 때 선물을 끌어내리는 활동을 미리 벌여 시장 심리를 움직인다고 설명. - 소규모 자본(약 500만~1000만 달러)으로도 시장 방향을 흔들 수 있다고 주장. [주장 2: 리서치 인모션(RIM) 관련 조작] - 연말 특정 기간에 RIM 주가를 끌어내리기 위해 매수·매도 호가를 이용한 주문 조작과 언론 보도 유도를 언급. - 증권거래위원회(SEC)가 이를 충분히 이해하지 못한다는 취지의 발언 포함. [주장 3: 애플 관련 루머 유포] - 애플 제품(아이폰)이 버라이즌·AT&T에서 거부됐다는 루머 유포, 맥월드 출시 지연 루머 확산 등을 통한 공매도 전략 설명. - 옵션(풋 옵션) 매수로 뉴스 기대감을 조성하는 방법도 언급. [주장 4: 시장 구조에 대한 일반론] - 헤지펀드가 하락 시 진실이 아닌 허구를 만들어내는 것이 중요하다는 주장. - 패니메이의 수십억 달러 규모 실적 조작 사례를 예로 듦. [리스크/조건] - 발언 전체가 불법 행위(시세조종, 허위사실 유포)를 설명하거나 고백하는 내용이며, 현재 시장에 대한 전망이 아님. [출연자 전망] - 해당 없음(과거 경험 회고, 현재 자산 가격 전망 없음).
다듬은 글
welcome to wall street confidential I'm Aaron task joining in by Jim Cramer Jim welcome could see you thanks for being here so I can have a TV out today but I want to talk about something else first again today we have the Miss direction from the future the future is probably upmarket and as of right now soft you down again is this just because it's the holiday period that we're seeing this you know a lot of times when I was short at my hedge fund and I was positioned short meaning I needed it down I would create a level of activity beforehand that could drive the futures it doesn't take much money similarly if or if I were long and I would want to make things a little bit rosy I would go in and take a bunch of stocks and make sure that they are there higher you know maybe commit 5 million in capital and do it and I could affect it now what you're seeing now is maybe it probably is bigger market now maybe any 10 million capital and knock the stuff down but it's a fun game and it's a lucrative gaming you can move it up and then fade it that's all often creates a very negative feel so let's say you take a longer-term view intraday now you say listen I'm going to boost the futures and then when the real sellers come in real money who comes in they're gonna knock it down let's go create a negative I thought they get a view that's subscribed very worth do it when you're VAT when your value on a day-to-day basis and I would encourage anyone who's in the hedge fund able to do it because it's legal my ended it's a very quick way to make money and very satisfying okay by way no one else in the world would ever admit that but I didn't care that's right and you could say that here in Cannes I'm not gonna say on TV well no there's so many more hedge funds today than I imagined your hats right do you think that that does that exacerbate the moves or does it make a position won't short okay not just long with mutual funds so it's really vital these next six days because of your payday you've really got to control the market you can't let it lift we get a research in motion it's really important to use a lot of your firepower to knock that down because it's the fulcrum of the market today so let's say our I I was sure what I would do is I would hit a lot of guys with rim now you can't ferment that's a violation of remember yeah you can't foment I can't create a yourself an impression that a stock's damn but you do it anyway because the SEC doesn't understand it so yeah I mean it's that's the only sense that I would say there's a legal but a hedge fund that's not up a lot really has to do a lot now save itself so this is different from what I was talking about the beginning where I would be behind the queues and stuff this is actually just a blatantly illegal but when you have six days and your company may be in doubt because you're down I think it's really important to ferment if I were one of these guys for men and oppression that research and motion isn't any good but this research emotion is the key today so you know you would you hit this guy in that guy when you would see an offering when you see a guy he's bidding he wiped back that guy very quickly and the what I used to do um was that if I wanted to go higher I would take a bid taking bid taking bid and if I wanted to kill or I hit an offer hit an offer hit an offer and I could get stock like rim for maybe that might cost me 15 20 million an e to knock rim down but it would be fabulous because it would believe all the wrongs who also came on research from emotion when your company's in a survival mode it's really important to defeat research emotion you get the Pazhani to the world people talking about it as if there's something wrong with rim then you would call the journal and you get the bozo report or research emotion and you would feed that there's a Thomas got a killer it's gonna give away these are all the things you must do on a day like today and if you're not doing it maybe shouldn't be in the game another stock that'll of people are focused on right now seems to be Apple yeah it's very important to spread the rumor that they both Verizon and AT&T decided they don't like the phone right very easy one to do because it's also you want to spread the rumor that it's not gonna be ready for Mac world and this is very easy because the people who write about Apple want that story and you can claim that it's credible because she spoke to someone Apple because Apple isn't it doesn't right they're not gonna comment it's really an ideal short and I would again if I were a short Apple I would be working very hard today to get that and the way you would do that I should pick up the phone and call six trading this and say listen I just got a phone contacted Verizon he's already said listen we're not we're a lucky G house that were Samsung house we're Motorola house there's no room for Apple they want too much that we're not gonna let them in this is not we're not going to let them do what they did to music and I think that's a very effective way to keep the stock right I might also by the way cuz the stock at 84 85 a little bit of capital you go buy some January any puts that makes it look like there's gonna be something going on so maybe you give Morgan in order to buy a thousand Chan and he puts then you go position limit with you know you use a hat firm that doesn't know what that could still maybe could even be s4 puts and you just kind of created an image that there's going to be news next week and that's gonna frighten everybody then you get they won't go out and say let's put Bart UBS then the corpus on again you have to use those guys and say what some about you know I see a big buyer puss and I'm told that it's like it's as they say you would do that too and these are all of what's really going on under the market that you don't see nobody else talked about what's important when you're in that hedge fund mode is to not do anything remotely truthful because the truth is so against your view right it's important to create a new truth to develop a fiction and the fiction is developed by almost anybody who's down like 2% top 6% here you can't take any chances you can't have the market up any more than it is if you're up six because starting Jan 2 you'll have all your money coming out somebody what would you do if you're in that situation and you feel like you're desperate is that you would do these actions so you're talking about the mechanics of the market is much more important info okay well but in terms of fun even writing about how you speak about the funds research motion just blew out the core trend but look what people can do right now look over maybe two weeks from now that buyers will come to senses and realize that everything that they heard was a lie but then again Fannie Mae lied about thirty four six billion dollars so it's an infection infection and I think it's important for people to recognize that the way that the market really works is to is to have that nexus of of hit the brokerage houses with a series of orders that you push it down and then leak it to the press and then get it on CNBC that's also very important and then you have a kind of a vicious cycle down right it's a pretty good game if you play you pay 4% - right and then do you get long before Macworld my expectation is the other side yeah you know in there's a case where I would say the January 80 puts can be justified because after I've knocked the stock down to 80 I can buy a lot of common and then you play it right in the Mac world where they'll probably introduce the Fulton and fries is gonna take it sure it's gonna give away these are all the things you must do on a day like today and if you're not doing it maybe you shouldn't be in the game another stock that'll of people are focused on right now seems to be Apple yeah it's very important to spread the rumor that they both Verizon and and ATT decided they don't like the phone sorry easy one to do because it's also you want to spread the rumor that it's not gonna be ready for Mac world and this is very easy because the people who write about Apple want that story and you can claim that it's credible because you spoke to someone at Apple because Apple isn't it doesn't right they're not gonna comment is really an ideal short and I would again if I were a short Apple I would be working very hard today to get that and the way you would do that I should pick up the phone you call six trading desks you say listen I just got a phone with my contact at Verizon and he's already said listen we're not we're a lucky G house that were Samsung house we're motorola house there's no room for Apple they want too much that we're not gonna let them in this is not we're not gonna let them do what they get to use it and I think that's a very effective way to keep the stock but I might also by the way cuz the stock at 84 85 a little buddy kappa we go buy some january any puts that makes it look like there's going to be something going on so maybe you you know give Morgan in order to buy a thousand Jannetty puts then you go position limit with uh you know you use a hat firm that doesn't know what that can still maybe though you can be s4 puts and and you just kind of create an image that there's gonna be news next week and that's gonna frighten everybody then you get they won't go out and say let's put Bart UBS then the corpus Ani again you have to use those guys and say what I'm about you know I see a big buyer puts and I'm told that it's like it's si si you would do that too and these are all of what's really going on under the market that you don't see nobody else talks about what's important when you're in that hedge fund mode is to not do anything remotely truthful because the truth is so against your view right it's important to create a new true developer fiction and the fiction is developed by almost anybody who's down like 2% top 6% here you can't take any chances you can't have the market up any more than it is if you're up six because starting Jan 2 you'll have all your money come out somebody what would you do if you're in that situation and you feel like you're desperate is that you would do these actions so you're talking about the mechanics of the market is much more important in fun okay well but in terms of fun even writing about how you speak about the funds research motion just blew out the court read but look what people can do nothing to do with right now look over maybe two weeks from now the buyers will come to senses to realize that everything that they heard was a lie but then again Fannie Mae lied about their earnings for six billion dollars so a fiction in fiction in fiction and I think it's important for people to recognize that the way that the market really works is to is to have that nexus of of hit the brokerage houses with a series of orders they can push it down and then leak it to the press and then get it on CNBC that's also very important and then you have a kind of a vicious cycle down right it's a pretty good game and it can be played you pay 4% to write and then do you get long before Mack well the expectation that that's a lucrative gaming you can move it up and then fade it that's all often creates a very negative feel so let's say you take a longer-term view at your day then you say listen I'm going to boost the futures and then when the real sellers come in real one who comes in they're gonna knock it down that's gonna create a negative act they get a view that's subscribe you value worth doing when you're VAT when you're valuing a day-to-day basis and I would encourage anyone who's in the hedge fund you need to do it because it's legal and it it's a very quick way to make money and very satisfying okay by the way no one else in the world would ever admit that but I didn't care that's right and you can say that here in Cannes I'm not gonna say on TV well they know there's so many more hedge funds today than right engineer has right do you think that that does that exacerbate the moves or as far as a position short okay not just long with mutual funds so it's really vital these next six days because of your payday you've really got to control the market you can't let it lift we get a research in motion it's really important to use a lot of your firepower to knock that down because it's the forum of the market today so let's say I were I was sure what I would do is I would hit a lot of guys with rim now you can't ferment that's a violation of for men yeah you can't foment you can't create a yourself an impression that a stock's damn but you do it anyway because the SEC doesn't understand it so yeah I mean it's that's the only sense that I would say there's a wheel but I think that's not up a lot really has to do a lot now to save itself so this is different from what I would sell him at the beginning where I would be buying the q2 system and this is actually just a blatantly illegal but when you have six days and your company may be in doubt because you're down I think it's really important to ferment if I were one of these guys for men and oppression that research and motion isn't any good but this research motion is the key today so you know you would you would hit this guy in that guy when you would see an offering when you see a guy who's bidding he wiped back that guy very quickly and the what I used to do was if I wanted to go higher I would take a bid taking bid taking bid and if I wanted to kill or I hit an offer hitting off or hit an offer and I could get stock like rim for maybe that might cost me 15 20 million a knee to knock rim down but it would be fabulous because it would believe her all the more on Long's who also came on research promotion weekend when your companies in a survival mode it's really important to defeat research emotion you get the Pazhani to the world people talking about it as if there's something wrong with rim then you would call the journal and you get the bozo reporter and research in motion and you would feed that there's a palms got a killer it's gonna give away these are all the things you must do on a day like today and if you're not doing it maybe shouldn't be in the game another stock that'll of people are focused on right now seems to be Apple yeah it's very important to spread the rumor that they both Verizon and and ATT decided they don't like the phone right sorry easy one to do because it's also you want to spread the rumor that not gonna be ready from that world and this is very easy because the people who write about Apple want that story and you
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