this thread is for posting matt levine quotes in

JPMorgan made money that it did not, you would have to say, "deserve" to make

Probably what *this* should be called.
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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Fri Oct 07, 2022 3:15 pm

(The entire latest Money Stuff is hilarious, Matt Levine is funny when he's frustrated)

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Re: this thread is for posting matt levine quotes in

Post by Skeletor » Tue Oct 11, 2022 6:23 pm

Wouldn’t it be very, very funny if Bank of New York Mellon Corp. gets hacked and loses its customers’ Bitcoin?
only hack a bank if it would be extremely funny to do so
wow, [you]. that all sounds terrible. i hope it gets better for you

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Re: this thread is for posting matt levine quotes in

Post by Skeletor » Tue Oct 11, 2022 6:23 pm

today's money stuff is off the charts good
wow, [you]. that all sounds terrible. i hope it gets better for you

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Tue Oct 11, 2022 7:12 pm

lol confirmed

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Wed Oct 12, 2022 7:11 pm

Look, I had never heard of the Mango token until this morning, which is a crucial advantage for me. If you had come to me and said “I have Mango tokens with a market value of $423 million, I want to use them as collateral for a loan, would you lend me $116 million against these Mango tokens?” I would have said “absolutely not, Mango tokens, not a thing.”

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Re: this thread is for posting matt levine quotes in

Post by Khaos » Fri Oct 14, 2022 9:58 pm

the mango token crashed big time after he got destroyed by a yoshi

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Re: this thread is for posting matt levine quotes in

Post by Crunchums » Sat Oct 15, 2022 12:22 am

Khaos wrote:the mango token crashed big time after he got destroyed by a yoshi
i am not sure if you are aware that he literally has his own cryptocurrency https://rally.io/creator/MANG/
u gotta skate

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Re: this thread is for posting matt levine quotes in

Post by Khaos » Sat Oct 15, 2022 1:20 am

i was not aware lol

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Thu Oct 20, 2022 5:59 pm

What JPMorgan did was explicitly allowed by the rules, but that doesn't mean that it was allowed. Just because rules are dumb and you are smart, that doesn't always mean that you get to take advantage of them.

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Tue Oct 25, 2022 7:46 pm

Over the past few months I have written a long piece about crypto for Bloomberg Businessweek. It is out today, and you can read it here.

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Re: this thread is for posting matt levine quotes in

Post by Skeletor » Tue Oct 25, 2022 8:14 pm

holy shit
wow, [you]. that all sounds terrible. i hope it gets better for you

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Re: this thread is for posting matt levine quotes in

Post by Skeletor » Tue Oct 25, 2022 8:14 pm

hilarious that he was trying to write this and elon musk kept doing shit to make him write extra columns instead
wow, [you]. that all sounds terrible. i hope it gets better for you

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Tue Oct 25, 2022 8:15 pm

it's very good

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Re: this thread is for posting matt levine quotes in

Post by Skeletor » Tue Oct 25, 2022 9:25 pm

i. Digression: What are you even reading? Why are you reading it? Why am I writing it?
wow, [you]. that all sounds terrible. i hope it gets better for you

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Tue Nov 01, 2022 5:38 pm

Well, no, technically he [Elon Musk] is not using “resources from a public company to benefit ... an entirely different one.” He’s using resources from a public company to benefit a private company that he owns personally.[6] It’s like sending Tesla engineers over to clean his swimming pool. Corporate governance experts would indeed have some questions but, you know, get in line, corporate governance experts.

[6] Oh technically he has some minority co-investors but they’re mostly his friends, not, like, real outside shareholders.

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Thu Nov 03, 2022 8:28 pm

a lot of people love to get in fights and would probably pay $8 a month for it. I probably would, and I don’t even like getting in fights on Twitter that much; I’d just pay for the optionality.

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Thu Nov 03, 2022 9:56 pm

Do Kwon’s Twitter account remains really good? Kwon is the founder of Terra, the crypto blockchain that blew up in a stablecoin meltdown in May. He is now wanted by South Korean prosecutors, and depending on who you believe he is either “not on the run” (his view) or “obviously on the run” ( prosecutors’ view). In any case he is not in custody and very much tweeting through it. Today he tweeted “Strangely, these last few weeks have been one of the most creative periods of my life.” I suppose it takes a lot of creativity to escape an arrest warrant, an Interpol red notice and some decentralized crypto vigilantes? I am glad he is having fun.

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Mon Nov 07, 2022 7:34 pm

In Musk’s unfathomably long first week or so running Twitter, he has driven away and threatened advertisers, fired and then un-fired employees who he needed to run the site, rolled out and then rolled back a new verification service that didn’t work, banned a bunch of users for making fun of him, and then taken to Twitter to make fun of them. If this is business genius it is, uh, too early to see the results. If this is commitment to free speech, it is an unusual view of free speech. If he is having fun, it is an unusual kind of fun. (He changed the location in his Twitter bio to “Hell.”) But if he is displaying the symptoms of an advanced case of Twitter addiction then, yes, this is all exactly what you would expect. He spent $44 billion to buy Twitter so he could win more arguments on Twitter.

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Thu Nov 10, 2022 7:08 pm

If the CEO came to you and said “can I lend customer money to our affiliated trading firm” and you said “sure go ahead” and then the company blew up, you have to go down with that ship. “I thought this was totally legal, and I still think so,” you have to tell every investigator who asks.

But if the CEO comes to you after the company blows up and says “by the way, I loaned customer money to our affiliated trading firm, I didn’t tell you because I thought you’d be mad, sorry,” then you definitely quit.

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Re: this thread is for posting matt levine quotes in

Post by Skeletor » Mon Nov 14, 2022 6:32 pm

If you try to calculate the equity of a balance sheet with an entry for HIDDEN POORLY INTERNALLY LABELED ACCOUNT, Microsoft Clippy will appear before you in the flesh, bloodshot and staggering, with a knife in his little paper-clip hand, saying “just what do you think you’re doing Dave?” You cannot apply ordinary arithmetic to numbers in a cell labeled “HIDDEN POORLY INTERNALLY LABELED ACCOUNT.” The result of adding or subtracting those numbers with ordinary numbers is not a number; it is prison.
wow, [you]. that all sounds terrible. i hope it gets better for you

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Re: this thread is for posting matt levine quotes in

Post by Crunchums » Mon Nov 14, 2022 8:25 pm

Image
u gotta skate

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Mon Nov 14, 2022 10:55 pm

FTX shot its customer money into some still-unexplained reaches of the astral plane and was like “well we do have $5 billion of this Serum token we made up, that’s something?” No it isn’t!

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Re: this thread is for posting matt levine quotes in

Post by Ashenai » Mon Nov 14, 2022 11:01 pm

“Sam Bankman-Fried is not very good at League of Legends,” reports the Financial Times.

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Re: this thread is for posting matt levine quotes in

Post by Luna » Mon Nov 14, 2022 11:06 pm

this guy seems really crazy

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Re: this thread is for posting matt levine quotes in

Post by Luna » Mon Nov 14, 2022 11:09 pm

my initial curiosity was, like, how do you just manifest a billion dollars. this is some real emporer's clothes, right? like the guy just says im worth a billion dollars because i have billion dollar bucks and everyone agrees. could i do this? i could just make a website in squarespace, but how do you get legitimacy?

but then reading on the kid, now barely thirty years old, this sort of just manifested as a kind of logical conclusion of their money making abilities, i guess

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Mon Nov 14, 2022 11:11 pm

you create a business that earns $100 million per year

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Re: this thread is for posting matt levine quotes in

Post by Luna » Mon Nov 14, 2022 11:26 pm

Rylinks wrote:you create a business that earns $100 million per year
ok what have we got for ideas, rylinks

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Tue Nov 15, 2022 6:54 pm

Imagine being the banker who shows up at the energy company that is trying to get rid of coal, and being like “I have a way to get rid of your coal for you,” and they are like “is it wind power,” and you are like “oh no, we’re gonna get a novelty oversized fake mustache and glue it on the front of your coal plants so we can pretend they’re someone else’s coal plants.” ESG Consulting But Evil. It’s perfect, I love it, no notes.

Oh, I can’t resist, one note.

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Re: this thread is for posting matt levine quotes in

Post by Rylinks » Wed Nov 16, 2022 7:31 pm

I recently re-watched Margin Call, the best finance movie

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Re: this thread is for posting matt levine quotes in

Post by Doug » Wed Nov 16, 2022 7:34 pm

Rylinks wrote: Wed Nov 16, 2022 7:31 pm I recently re-watched Margin Call, the best finance movie
That's a good one

The Big Short is entertaining, although I consider Margin Call a better film
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