BagFitted

Michael Jordan on the fear of failure. “I never feared about my skills, because I put in the work—work ethic, eliminates fear.”

After 15 years at tastylive, Liz Dierking has decided to move on to her next chapter. Words could never do enough to express our gratitude for her many contributions over the years, from the Jade Lizard all the way to the naked put dance. We love Liz and wish her nothing but the very best in her future endeavors!

DID CITADEL MANIPULATE THE MARKET? IMO, the pervasive belief online rn that Citadel faked the rate hike note to cause increased market pressure and force Leopold to liquidate their assets to Citadel is a dumb one, as most of these conspiracy theories are. 1. There’s compliance barriers between the research entity and the hedge fund entity. 2. There is no way Citadel had that level of visibility into Leopold’s portfolio and margin situation. Especially when spread across multiple prime brokers. If this type of stuff occurred, the prime brokers wouldn’t have gotten owned during the Bill Huang debacle. 3. The note doesn’t really change market sentiment that much or in any predictable manner. Like cmon, these sell-offs are insanely multi-factorial… to think this note is at the root of the panic and leopold’s liquidation is ridiculous. This was another sector panic after having run way too hot. Sure, maybe a few people care about a Citadel note, but were most of the holders long these names bc of Citadel’s macro rate expectations? Not a chance, let alone the market for these stocks at large. 4. Any of the other firms could have outbidded Citadel, particularly JSC would be a likely one. 5. The risk of blowing up your prime brokerage business over a deal you might not even win doesn’t seem like a sensical one. Yes, the optics to the masses don't look good, but for people that understand markets and how this works, they know that this is just another silly unsubstantiated conspiracy theory that retail stupidly runs wild with.

Spurs family, I’m here to stay. Whatever it takes🖤