저자: DavidEinhorn · 외국인
요약 보기
결론: 아인혼은 GME 사태에서 규제 당국의 감독 부실을 핵심 문제로 지적하며, 로빈후드와 차마스 팔리하피티야·일론 머스크의 역할을 비판했다. 로빈후드 비판: 자본이 부족해 특정 종목 거래를 중단했을 가능성이 있고, 규제 요건을 따르지 않았을 수 있어 규제 제재가 적절하다고 주장. 로빈후드는 논평을 거부. 팔리하피티야·머스크 비판: GME 스퀴즈의 실질적 촉매는 팔리하피티야(TV)와 머스크(트위터)의 발언이었으며, 시장을 불안정하게 만들었다고 지적. 팔리하피티야가 경쟁사 SoFi를 통제하므로 GME를 흔들어 경쟁사를 해치려 했을 수 있다는 인상을 준다고 언급. 머스크에 대해서는 반쯤 옹호하는 입장을 보이며, 2018년 테슬라 주식 조작 혐의에 대한 규제의 솜방망이 처벌을 지적. 테슬라 관련: 아인혼은 장기간 테슬라 약세(숏) 입장을 취해왔으나, 이번 서한에서는 포지션 업데이트는 없었음. 규제 환경 진단: 대부분 감독 공백 상태이며, 금융 사기·회사 경영진의 위법 행위에 대한 두려움이 거의 없다고 평가. 경찰 예산 삭감 운동이 금융 규제 약화로 이어졌다고 비유. 기타 사례: 홈타운 인터내셔널(뉴저지 델리 소유, 2020년 매출 약 1.4만 달러)이 시가총액 1억 1,300만 달러까지 오른 사례를 시장 이상 현상의 예로 제시. Archegos 언급: 아르케고스 펀드의 집중 매매 문제는 간략히만 언급하며, 의회보다 감독 당국의 책임을 더 물어야 한다는 입장. 전망: 특정 자산에 대한 가격 방향 예측 발언은 없음.
다듬은 글
that's right the real target of this letter is regulators uh but in doing so he points out activities taken by chemotherapy and david einhorn and robin hood amid the whole gamestop volatility saga that took place earlier this year in his letter he points to robin hood saying that it suspended trading in certain stocks because it was under capitalized it is possible he says that it wasn't following regulatory requirements a regulatory sanction is probably appropriate he says robin hood declined to comment in response to this letter from einhorn uh with regard to chamath palahapatia and elon musk he notes that quote the real jet fuel on the gme squeeze came from chamath pala hapatia and elon musk whose appearances on tv and twitter respectively at a critical moment for further destabilized the situation he goes on to say that palahapatea controls sofi that's been done through a spakadispak uh which competes with robin hood he notes and left us with the impression that by destabilizing gme he could harm a competitor and then he also goes on to say that he half-heartedly wants to defend musk because if regulators wanted musk to stop manipulating stocks they should have done so uh with more than a slap on the risk a light slap on the risk when they accused him of manipulating tesla's shares back in 2018 worth noting that einhorn has been a long-term bearer on tesla he hasn't provided an update in this letter on his positioning with tesla but he has been of course very critical of tesla in the past now with regard to regulation he says that for the most part there is no cop on the beat it's it's as if there are no financial fraud prosecutors companies and managements that are emboldened enough to engage in malfeasance have little to fear uh he goes on to say that many who would have never supported defunding the police have supported and for all intents and purposes have succeeded in almost completely defanging if not defunding the regulators he says for the most part quasi-anarchy appears to rule the markets and as a kind of just a a nice anecdote toward the end of this letter he points to a company called hometown international which is publicly traded and he says it owns a single deli in rural new jersey that delhi had about 14 000 worth of sales in 2020 it was closed due to covid in march through september of last year and then somehow managed to reach a market cap of 113 million dollars so he points to that as just one more example of some uh you know unique aspects that are going on in the market uh and notes i think in a joking manner that it must have some very good pastrami so an appropriate anecdote there for power lunch perhaps uh we've reached out in addition to robin hood to chamoth pala hapatia and elon musk we have not heard back but if they do decide to comment and respond to this letter we'll let you know what they say guys wow really interesting stuff leslie anything about our cagos in there yeah so he uh uses the term arch egos a-r-c-h-e-g-o-s very small mention he says if congress wants to understand why gme did what it did or more recently how the arch egos our cagos fund cornered the market and a handful of stocks it would be better to call to account the absentee regulators and their philosophical backers that is pretty much the extent of what he what he said about our kgos but maybe there will be more uh in his next quarterly letter on that front he covered a lot of ground in that letter it seems leslie thank you very much thank you
Comments 0