Reddit Posts
Newron Pharmaceuticals- the next level
AMC - My Theory of things - and why the Adam Aron Haters and No Voters are WRONG and were likely a part of a funded propaganda campaign
Marijuana ETF questions vs alternative approaches to get exposure
Updated analysis, acquisition out today $KULR , Looking ready to break 50 DMA soon
Updated analysis, acquisition out today $KULR , Looking ready to break 50 DMA soon
A stock that will shine in a higher interest rate environment US Gold $USAU 6M share float w/recent Price Target issued at $25/share. Currently $11.25
This junior gold miner has potentially massive gold reserves with a float of around 6M shares. Trading at less than half of a recently issued $25 price target. NASDAQ $USAU
How to actually take advantage of GME's & Meme stocks 90 and 120 runup cycles DD
How to actually take advantage of GME's & Meme stocks 90 and 120 runup cycles
How to actually take advantage of GME's & Meme stocks 90 and 120 runup cycles
$KULR Technology Group Receives Special Permit from the U.S. Department of Transportation Authorizing Transport of Damaged, Defective, or Recalled (DDR) Batteries @jctb1
KULR Technology Group Receives Special Permit from the U.S. Department of Transportation Authorizing Transport of Damaged, Defective, or Recalled (DDR) Batteries
KULR's battery safety technology validated by NASA and CPSC ahead of potential commercialization
KULR's (NYSE: KULR) battery safety technology validated by NASA and CPSC ahead of potential commercialization
KULR Technology Group Issued Special Permit from the U.S. Department of Transportation Authorizing Transport of Lithium-Ion and Metal Batteries for Recycling
KULR Technology Group Announces Issuance of U.S. Patent Covering Risk Minimization of Fires and Explosions in Lithium-Ion Battery Packs
I think Credit Suisse (CS) Investors Are Overreacting to Greensill and Archegos
Credit Suisse (CS) Investors Are Overreacting to Greensill and Archegos
How to crash the world economy in a few easy steps
Is Another Family Office Blowing Up: JPM Dumps 9MM Share Block Of Academy Sports
Is Another Family Office Blowing Up: JPM Dumps 9MM Share Block Of Academy Sports
Mentions
what’s TRS stand for?
Which sets a new floor and messes up with the TRS unwinding of the legacy shorts.
$RITE – SEC Form 10 Response Submitted. Clock Is Ticking on Catalyst. $RITE (MineralRite Corp) could be one of the most overlooked junior miners about to reprice. The next move depends on a major regulatory milestone — and that moment may be near. Form 10 Response Submitted on May 30 MineralRite is in the final stage of the SEC comment-and-response process. If the SEC accepts the latest amendment with no further comments, the Form 10 becomes effective — which unlocks everything else. That includes FINRA processing the 15c2-11 application so the company can return to full public quotation. Why It Matters? Once 15c2-11 is cleared, the stock can be quoted again across retail platforms like Fidelity, Schwab, and TD. This means real liquidity, real price discovery, and access to institutional and retail buyers who are currently sidelined. SK-1300 Technical Report May Be Waiting The company has already referenced a $432 million valuation based on 279,000 tons of tailings — and that’s just one property. A SK-1300 Technical Report Summary (TRS) could follow shortly after the Form 10 goes effective, offering formal reserve confirmation. Next Step: Funding and Growth RITE has lined up Reg D, Reg A, and Reg S funding offerings — including a potential $75M/year Reg A and a $300M international Reg S shelf. Based on management’s statements, they appear to be waiting for compliance clearance before activating those funding rounds. Strategic Execution, Not Hype The CEO has taken a methodical approach — completing a redomicile, updating the share structure, and executing definitive agreements on mineral assets. Rather than pumping news early, the company has focused on legal positioning. That’s rare in this tier of OTC. Catalyst Stack: • Form 10 amendment submitted May 30 • SEC response expected in June • 15c2-11 approval could follow quickly • SK-1300 TRS may be filed once Form 10 goes effective • Reg A / Reg S funding news likely after asset confirmation • Pink Current upgrade or QB uplisting possible later in 2025 Bottom Line RITE is nearing the end of regulatory blackout and preparing to re-enter the market with verified assets and capital backing. If the SEC clears the Form 10 this month, a floodgate could open. Sub-penny prices today may not last long once liquidity returns and catalysts stack up.
Thanks, makes sense. For a thought experiment, if I could hypothetically get access to something such as a TRS' without it resetting daily, I wouldn't be susceptible to as much downward momentum?
I’ll try to address your arguments earnestly. Even though, to be frank, the use of AI is a bit annoying because it sort of feels like you’re avoiding critically thinking about the points you’re trying to make. Although I do recognize AI as a useful tool for exploring topics not in your wheelhouse house I generally find that your post is not making argument. It makes claims but: first, many are verifiably false and second the others require leaps of logic that are not substantiated. 1. The TRF reporting requirement are within 10s. You can read the finra rules. If there are delays that’s because of the TRF, not companies. Actions are public. 2. I’m skeptical of the claim total return swaps have notable effects. There have to be net 0 deltas across all of these since every TRS has to have someone on the other end. Second, if a bank is trading with someone they’re hedging their exposure in the market, which means the position is being by reflected into prices. Third however these settle won’t effect ether options contracts deliver shares or not. 3. Again what does PFOF have anything to do with whatever argument you’re trying to make? Like, again pfof is bad for price discovery. But retail trades (I.e all of robin hood) gets better prices and trades at lower costs. I personally think people should do less gambling in the stock market, but it’s hard to see why lower fees for folks to trade stocks makes markets less fair to them. 4. HFTs have a structural advantage? Sure, but you’re also just doing different things. Like you’re buying stocks because you think they’ll go up or because you need cash. They’re trading stocks to buy and sell a bunch and make money because they’re facilitating execution at scale. Like, KFC has a structural advantage to making fried chicken compared to me, but we also have different goals. I’m not a fried chicken business and you’re not in the business of providing liquidity. I know you had more points, but there’s just too much to engage on literally every single point.
CNS in the spotlight As Newron’s evenamide programme has garnered notable attention, exemplified by its licensing deals to date, we highlight that this reflects a resurgence of interest in CNS in the healthcare sector. In the last 18 months, there have been four multi-billion-dollar acquisitions of biotech players: Cerevel Therapeutics (by AbbVie at a 22% premium), Karuna Therapeutics (by Bristol Myers Squibb at a 53% premium), Longboard Pharmaceuticals (by Lundbeck at a 54% premium) and, most recently (announced during the JPMorgan Healthcare Conference in January 2025), Intra-Cellular Therapies (by Johnson & Johnson at a 39% premium). Of particular relevance to Newron was the Karuna deal, as it focused primarily on the schizophrenia drug candidate KarXT, which was approved by the FDA in September 2024 (with the drug now named Cobenfy). Cobenfy works via a novel mechanism of action, selectively targeting muscarinic receptors M1 and M4 (associated with cognition, learning and memory). The approval was considered a key milestone in the field of schizophrenia, which had been relatively stagnant since the 1950s, since the novel mechanism represents an advancement on the historical dopamine hypothesis of schizophrenia pathophysiology. We note that Newron does not see Cobenfy as evenamide’s direct competitor, as management believes evenamide is differentiated by its favourable side effect profile and the fact that it is specifically targeting durable responses in the TRS patient population, which is not included in the label for Cobenfy. https://www.edisongroup.com/research/pivotal-evenamide-trial-looms/BM-1473/
The guy made 20 billion in like under 10 years and then he lost it in 2 days. He used shit loads of leverage through TRS'. I think he was one of the tiger cubs. He also bankrupted like 2 hedge funds
You’d have to check if the 457 gets added to the 401k in terms of tax-deferred limits for federal taxes. If the 401k has employer matching and more choices, I’d probably go with that. TRS doesn’t count against any of those or IRAs.
Lol. We had a TRS 80 with a tape drive. It took 5-7 minutes to load a text based game.
Hahaha. I remember those days. 27 3/8ths exactly And the newspaper quotes were at the close the day before. No pre market quotes. Commissions were outrageous and you had to call your broker to place an order and he would quote you the current price that was already 15 minutes old. Then along came the early 80’s and the precursor to the internet. I subscribed to the Dow Jones stock quotes to receive them on my Radio Shack TRS-80 computer through my telephone modem as it dialed the number. The good old days! 😃
Yes All eyes now on the pivotal Phase III study in TRS With regional deals in place and increased capital at hand, we believe that Newron is on track to commence the Phase III registrational study within the targeted timeline of H125. This pivotal trial will be a randomised, double-blind, multinational study comparing evenamide as an add-on treatment to placebo in at least 600 TRS patients. The primary endpoint will be the change from baseline in PANSS scores at week 12 and the goal will be to reproduce or improve on the results from the previous two trials (which had initial cutoffs of six and four weeks, respectively) given the sustained improvement in symptoms seen with continued usage. The initial 12-week study period for the Phase III trial will be followed by a continuation to week 26, and to week 52, to assess long-term efficacy, safety and tolerability. We expect Newron to file for regulatory approval in H127, with a potential US launch in 2028, should data continue to be positive. https://www.edisongroup.com/research/spotlight-on-evenamide-following-licensing-deals/BM-1057/
https://www.newron.com/news-and-media/regulatory-news/newron-pharmaceuticals-reports-its-2024-investor-day-new-york-city Clinical results and new findings of mechanism of action indicate evenamide would be uniquely effective in patients with treatment resistant schizophrenia Leading schizophrenia experts predict earlier use of evenamide would benefit patients with inadequate response Evenamide’s unique mechanism of action targets the core abnormalities in patients with schizophrenia and reduces hippocampal dopaminergic activity, improving symptoms of psychosis, social interactions and cognition Long-term benefits of evenamide as an add-on therapy were presented: 25% of treated patients met the criteria for remission suggesting evenamide may positively affect the long-term course of schizophrenia in TRS patients
Force of habit, sorry The USD is also weakening and will be weakening quite a bit so to a degree its pick your poison at this point. I would argue that the high interest rate offset the inflation by some margin. You can also hedge out inflation in ETFs tracking TRS/inflation or do a L/S in another currency. Im not primarily an FX guy ,this is what comes to mind re inflation hedge You can buy a basket of high yield junk bonds to offset and strengthen your real return etc
Okay, one side of a 5 inch floppy drive from a TRS 80. There modernized so all can understand.
> I don't know when, but in the last few years the term AI has come to mean absolutely nothing about Artificial Intelligence, and has strictly come to mean a model that is more competent than humans at something,... Blame [John McCarthy](https://en.wikipedia.org/wiki/John_McCarthy_\(computer_scientist\)) who *coined* the term in [1956.](https://en.wikipedia.org/wiki/Dartmouth_workshop) > I think you're astute to observe this has all happened before. Well, it helps that I was *there.* Or, more specifically, my interest in "Artificial Intelligence" came about in the early 1980's when I was in college and read the works of John McCarthy, [Marvin Minsky](https://en.wikipedia.org/wiki/Marvin_Minsky) and [Claude Shannon.](https://en.wikipedia.org/wiki/Claude_Shannon) The second programming language I ever learned (after BASIC on a TRS-80) was [LISP](https://en.wikipedia.org/wiki/Lisp_\(programming_language\)), and my high school science fair project was building a primitive [theorem prover](https://en.wikipedia.org/wiki/Automated_theorem_proving) which could solve basic problems in [propositional calculus.](https://en.wikipedia.org/wiki/Propositional_calculus) Which, at the time, was considered "Artificial Intelligence", but now is just a fascinating parlor trick done by nerds with too much time on our hands.
📰 Keeping an eye on V**VX.** >V2X receives $3.7 bln task order to spearhead next-generation readiness and training capabilities for U.S. Army Worldwide. >Co announces a mission-critical win to provide readiness capabilities to the U.S. Army worldwide under the Warfighter-Training Readiness Solutions (W-TRS) task order. Valued at $3.7 billion over five years, including option periods, this task order further solidifies V2X's leading role in enabling full spectrum readiness for every soldier and unit across the U.S. Army. **$3.7 bln task order on a $1.5 bln market cap**, and she's only up 2.18%. If she makes a move, I'll be ready.
Yes, can confirm. They use Markitwire, Tradeweb and Bloomberg to do most IRS, CDS, Swaptions and TRS trades. Their PC runs on the windows operating system.
If x5 leverage on tech TRS is wrong I don't wanna be right
All of these are examples of "vulture capitalism". The goal isn't to run the company, it's to extract as much wealth from the company before it dies an empty shell stuffed with debt. In Toys R Us's case, a vulture capital firm bought the company using loans that were put under the name of toys r us. The firm gets a payday, the TRS C-suite gets a payday, and all the employees get fucked as the company goes bankrupt because it can't pay back the loan "it" took out to buy itself. There was never any intent by the firm to run the company. Yes, this shit sounds extremely illegal, and it should be, and I'm surprised the banks lending the money keep allowing it.
I don't know for sure, no one knows unless they are directly involved with GME. My personal assessment is this: Some really rich people realized the absolute shit position some of the hedge funds and banks who were short GME are in, and have placed massive bets supported by huge gamma ramps to capitalize on the shitshow that is about to happen. Rumour has it that hedge funds who were short GME in 2021 rolled their short exposure into Total Return Swaps (TRS). Basically, banks who are counterparties of these TRS would short the GME shares instead while the hedge funds pay these banks a monthly interest rate. Any gains made from the decreasing price of GME would in turn be paid to the hedge funds. In other words, hedge funds are using derivatives to i) hide their short positions; ii) avoid margin calls from large unrealized losses; iii) drastically increase leverage and capacity to short. Thing is, this is just one of many other fuckery that they have relied upon. Rumour also has it that Archegos and Credit Suisse blew up partly due to GME swaps. Anyway, these swaps are expiring soon, and with the Consolidated Audit Trail recently becoming fully operational, any unwinding of these highly levered short positions could be catastrophic. Some might even say, a black swan event.
Let me guess, Abbot will put TRS somehow into this and fuck with the retirement system.
I'm glad that I wasn't the only one. However, I remind my dad of his decision. In 1981-82, I begged my Dad for an apple computer. My friend's Dad across the street had a radioshack TRS-80. I begged my dad, but he would not budge. As a consolation, I recommended that he invest the money in apple stock for my college fund or his retirement. He did none of the above. When I raised children of my own, I asked them for investment advice. Unfortunately they didn't have any... I'm still broke.
so this is a pension fund, which is not a bad thing but there are likely additional details and restrictions on the fund, 7% crediting rate is very good though and on the very high side for yields. I'd reach out to TRS NYC and just clarify if you have to annuitize it at retirement to receive the full 7% or if you can roll it over on employment separation and what vesting restrictions they might have and if those are based from contribution date or employment date
There isn’t a ticker for the fund. Here’s the website for NYC TRS, where I’m finding this info. https://www.trsnyc.org/memberportal/TheTDAProgram
I may be misunderstanding. I’m a public school teacher in New York City. Upon retirement, the TRS website states that I can defer the annuity, roll the whole thing over to an eligible successor program (like an IRA, I assume,) or annuitize it. So I don’t assume that I can instantly withdraw anything, but I can access with a couple of months max. I do have a child that I’d like to provide for.
Based on the information gathered from various sources, here is an analysis of Newron Pharmaceuticals S.p.A. (Ticker: NWRN), listed on the SIX Swiss Exchange. Fundamentals: Company Overview: Newron Pharmaceuticals focuses on the development of novel therapies for the treatment of central nervous system (CNS) disorders and pain. Its key product is Xadago (safinamide) for Parkinson’s disease treatment, with a pipeline including Evenamide for schizophrenia. Financial Performance: The company has experienced significant share price volatility over the past three months. Notably, it has a negative shareholders equity and less than a year of cash runway, indicating potential liquidity risks. Shareholders have been diluted in the past year. Performance: Over the past year, NWRN's share price has increased by 20%, with a three-year change of 156.55%. However, it has seen a decline of 10.58% over the last five years. The company's market cap is approximately CHF 138.62 million. Risks: Analysts note the highly volatile share price, the risk of shareholder dilution, and financial sustainability concerns due to less than a year of cash runway. Price Fluctuations: The share price currently stands at CHF 7.44, having decreased by 4.86% at the last close. The 52-week price range is CHF 3.70 - CHF 10.80. Volume and Volatility: The average trading volume is 155,098, with recent trading sessions witnessing volumes of 72,755. The stock has shown a beta of 0.73 over the past five years, indicating relatively moderate volatility in comparison to the market. Recent Corporate Developments: Newron appointed Margarita Chavez as a new non-executive director, bringing over two decades of pharmaceutical industry expertise and leadership. Her experience spans dealmaking, investments, and company-building across the US and Europe, which could provide Newron with strategic advantages in advancing their drug development and commercialization efforts . Latest Updates on Evenamide: Newron reported encouraging interim results from a study on Evenamide, showing substantial improvement in patients with moderate to severe TRS. These patients were not responding to their current antipsychotic medication. The study revealed that after six months of treatment with Evenamide, there was a significant and clinically meaningful improvement in TRS symptoms. The clinical trial, which involved 161 subjects, demonstrated Evenamide’s potential as a meaningful treatment for TRS, a condition that affects about one-third of schizophrenia patients and is characterized by a lack of response to conventional antipsychotics. This underscores the dire need for new therapeutic options . Evenamide works by blocking voltage-gated sodium channels (VGSCs) and normalizing glutamate release without affecting other CNS targets. This mechanism could offer a novel approach for TRS treatment, differing from current antipsychotics that primarily target dopaminergic neurotransmission . Looking Forward: Newron is planning a multinational, randomized, placebo-controlled study to further evaluate Evenamide’s efficacy in TRS patients. This next phase in Evenamide’s clinical development will be crucial for its approval as a new treatment option for schizophrenia, particularly for those patients who are resistant to existing therapies. Loan Extensions: The announcement that Newron Pharmaceuticals has obtained an extension on three near-term tranche repayment dates under its 2018 financing agreement with the European Investment Bank (EIB) carries significant implications for the company’s financial health and strategic flexibility. This development is especially relevant for investors and stakeholders tracking the company’s fiscal management and growth prospects. Here’s a breakdown of the key aspects and potential implications: Immediate Financial Relief By deferring the due dates of the first three tranches from June 2024 to dates spanning from November 2025 to June 2026, Newron Pharmaceuticals alleviates immediate cash outflow pressures. This delay in repayment provides the company with enhanced liquidity over the short to medium term, which is crucial for its operational and research & development activities. Implications for Cash Flow Management This extension allows Newron to better manage its cash flow, potentially dedicating a greater portion of its resources to critical areas such as drug development, clinical trials, and market expansion efforts. For a biopharmaceutical company, the ability to sustain investment in these areas is vital for long-term success, especially when developing new therapies or bringing them to market. Investor Confidence and Market Perception Such financial negotiations and outcomes can also impact investor confidence and market perception. Successfully renegotiating loan terms may be viewed positively by the market, signaling confidence from creditors in the company’s future prospects. However, the need for such extensions might also raise questions about the company’s current cash burn rate and financial stability. Strategic Flexibility The rescheduling provides Newron with increased strategic flexibility. With more breathing room financially, the company might be in a better position to pursue strategic partnerships, collaborations, or further investment in its pipeline without the immediate pressure of substantial loan repayments. Future Financial Strategy While the immediate repayment pressure is alleviated, the company will still need to address these liabilities in the future, alongside the remaining two tranches on their original due dates. This necessitates prudent financial strategy and planning to ensure that the company remains on a stable financial footing when these obligations come due. Overall Outlook This development is a mixed signal. On one hand, it provides Newron Pharmaceuticals with immediate financial relief and more room to maneuver strategically. On the other hand, it underscores the ongoing financial challenges the company faces, necessitating careful monitoring of its financial health and operational efficiency moving forward. Investors and stakeholders should closely follow Newron Pharmaceuticals’ subsequent financial reports and updates for further insights into how this extension might affect the company’s financial strategies and overall trajectory.
I think it's important to know what products KULR is actually offering. I recommend you follow KULR on twitter and take a look at what they presented at CES this year. That helped me make a firm decision about whether I hold or sell. I am sure you have all heard these names bandied about by KULR but I want you all to actually see there products mentioned in the press releases. KULR's. Thermal Runaway Shield (TRS) https://www.kulrtechnology.com/kulr-technology-secures-patent-for-thermal-runaway-shield-trs-proven-to-minimize-risk-of-fires-and-explosions-in-lithium-ion-battery-packs/ KULR-Tech Safe Case https://www.sec.gov/Archives/edgar/data/1662684/000110465921106683/tm2125240d1_ex99-2.htm KULR CELLCHECK https://www.kulrtechnology.com/cellcheck/ KULR SafeCase https://www.trendhunter.com/amp/trends/safecase The specs on safe case https://www.kulrtechnology.com/wp-content/uploads/2023/03/TDS-SafeCASE-Mar-2023.pdf I did not do my DD when I bought KULR. I thought it be similar to Vertiv Holdings (VRT) but what they are offering is completely different. You may notice that these links are older. Please take a look new press releases to confirm that these are the same products they have been trying to get off the ground.
I smell high profits! Karuna Takeover was 14bn Cerevel Takevoer was 9bn And Newron? This company showed great 1 year results in treatment resistant schizophrenia (TRS). 1 year! Karuna longest study treatment was 5 weeks. 🤣🤣🤣 Results for non TRS are coming in 3 weeks... 🚀🚀
> The sovereign wealth funds e.g. PIF, Mubadala, QIA have some insane investments and basically bankrolled a good portion of silicon valley meh, same case with most large SWF and Pensions - CDPQ, OTPP, CalPERS, TRS, CPPIB, probably a shitton of others, those are just off the top of my head source: formerly an ibanker covering energy clients, so met with quite a few of these institutional pension and SWFs hunting for low risk / high cash yield energy and infrastructure investment opps
Oh how I wish I’d have taken computers more seriously back when mom brought home that TRS-80 from Radio Shack ..!!! Anyone with the skills to create a new Reddit more Reddit than the watered down kids ass version that it’s become /becoming would have a gold mine !!! Sadly the technical skills and cost to launch will make it so we just stay here and bi7ch about how lousy it’s become while still giving them the user numbers and ad revenue
You should read about the concept of TRS
Newron Pharmaceuticals- Potential 10 bagger I was participating at a Investor Conferene late November and regarding the next crucial and impactful news. Here's what I heard of the CEO: "We have massive new flow to come in the next six months, starting the next few weeks with the announcement of completion of enrollment of our first pivotal study in non-TRS schizophrenia. That should happen anytime next few weeks. That means for everybody knowing that two or three months later our study with up to 290 patients in non TRS schizophrenia will report results first quarter next year. Before that, what we can tell you is that we will have the final results from a phase two study, of our compound in TRS in treatment resistance, schizophrenia early January. This should be expected. Then we will talk about the partnering and then we talk about the start of the second pivotal study in TRS later in the second quarter. And that means the next six months you will have at least five news points from Newron, each of one that can substantially change the value of our stock on the stock market" Just to let you know, Karuna was taken over last week for 14 Billion $, because of their PIII schizophrenia drug. Newrons Evenamide is on the transition to PIII and their market cap is less than 100 Mio $! Even tough the days between christmas and new years eve are usually silent, the shareprice jumped yesterday for more than 10% with unusual high volume. The next news are around the corner and Newron Pharmaceuticals could be a 10 bagger!
well banks offer rolling futures trackers via a TRS that does this, but i think OP has no idea what hes doing. do you use difference or ratio when you backadjust...makes a difference (as does the roll calendar) "continuous" hilarous.
Completely hypothetical: 1m exposure TRS @ 3 month (2% rate) Price decline of 10% over 3 months 1,000,000 x .02 = 20,000 (rate) 1,000,000 x .10 = 100,000 End of term: AO Assets: 900,000 (+20,000) ETF Payout: 120,000 AO Value: 1,020,000 (+20k) ETF Value: 880,000 (-120k) \--- Same inputs in reverse: 1m exposure TRS @ 3 month (2% rate) Price appreciation of 10% over 3 months 1,000,000 x .02 = 20,000 (rate) 1,000,000 x .10 = 100,000 End of term: AO Assets: 1,100,000 (+20,000) AO Payout: 80,000 AO Value: 1,040,000 (+40k) ETF Value: 1,080,000 (+80k) The AO shifts the downside risk to the ETF via TRS if the math checks out. The inflows could simply be FOMO buying boosted by "soon" or any other positive rumor \[insert rocket emoji x20 here\] only to get dumpstered when the rumor turns out to be false. This conversation went further into the weeds than I anticipated, but thanks for it anyhow!
>In a total return swap, the party receiving the total return collects any income generated by the asset and benefits if the price of the asset appreciates over the life of the swap. In exchange, the total return receiver must pay the asset owner the set rate over the life of the swap. ​ >Total Return Swap ExampleAssume that two parties enter into a one-year total return swap in which one party receives the London Interbank Offered Rate (LIBOR) in addition to a fixed margin of 2%. The other party receives the total return of the Standard & Poor's 500 Index (S&P 500) on a principal amount of $1 million.After one year, if LIBOR is 3.5% and the S&P 500 appreciates by 15%, the first party pays the second party 15% and receives 5.5%. The payment is netted at the end of the swap with the second party receiving a payment of $95,000, or \[$1 million x (15% - 5.5%)\].Conversely, consider that rather than appreciating, the S&P 500 falls by 15%. The first party would receive 15% in addition to the LIBOR rate plus the fixed margin, and the payment netted to the first party would be $205,000, or \[$1 million x (15% + 5.5%)\]. From [Investopedia](https://www.investopedia.com/terms/t/totalreturnswap.asp) So then if the asset prices declined, the owner would receive the rate + difference. * inflow comes in * MSOS enters into TRS * prices decline * retail/institution loses on risk, asset owner captures rate + difference Not sure if that is correct. Far too much thinking for a Saturday.
Could imagine the position this sector is in with the legality issues playing a role in the fee structure, but I don't know shit from crap. The TRS subject isn't something I'd ever really dug into but getting a brief overview of the mechanics in them, I'm assuming is the reason for listing share counts on inflow updates is the exposure the ETF has towards the underlying via the swap agreement if I'm understanding the information correctly. Otherwise, seems to me it's useless data if the ETF cannot hold the underlying directly and the AP is not delivering the underlying. Appreciate the time and conversation RogueJello, far better (*to me at least*) than the typical banter.
this one for 41k, knock out the wall on the second bedroom and just have a 1 bed https://static.wixstatic.com/media/06e357_df4bceeb6b894337abac893127a99f34~mv2.jpg/v1/crop/x_0,y_0,w_1800,h_970/fill/w_735,h_396,al_c,q_80,usm_0.66_1.00_0.01,enc_auto/Bliss%20TRS14562A%20floor%20plan.jpg
When my kids were 6 and 44 years old I opened their closet and found toys from grandmas and grandpas that were not even looked at that they had requested as gifts. I told the kids they could request i major gift each. Anyone else could give cash. All money went into gift of minor accounts. They had a nice chunk of change when they turned 18. Naturally I suggested reinvesting the money, but they wanted TRS-80 computers. Oh well...
I need some advice, I am a 45 years old female teacher with 2 young kids and live in San Antonio, Tx. I only own a house as an investment and have retirement with TRS. But as you all know, it is a drop in the bucket. So, I started going back to school to get my second masters in data science. I need more money for retirement and child education funds. One of my friends was telling me about someone who invested 10K in Amazon franchise and doing well. I was thinking I could do that, maybe in the North Houston area. What do you guys think. I really need some help with this, if not that what else do you think?
I need some advice, I am a 45 years old female teacher with 2 young kids and live in San Antonio, Tx. I only own a house as an investment and have retirement with TRS. But as you all know, it is a drop in the bucket. So, I started going back to school to get my second masters in data science. I need more money for retirement and child education funds. One of my friends was telling me about someone who invested 10K in Amazon franchise and doing well. I was thinking I could do that, maybe in the North Houston area. What do you guys think. I really need some help with this, if not that what else do you think?
these companies r so cocky with it because they probably have a direct satellite phone line to houlihan, PJT, and TRS/Piper i have no idea how restructuring advisors get away with the shit that they do but it’s utterly insane. kind of respect it in a way.
Fund is leveraged 3x, so it's composition would look something like: * 100% in underlying * 200% return via total return swaps => 300% exposure. ___ 5.5% + 25 to 40 bps = \~6%, this is cost of achieving 100% leverage, this is multiplied twice due to needing 200% returns from the TRS. 13%: * ~6% (100% exposure) + ~6% (100% exposure) * 1% (expense ratio for the ETF)
 [https://imgur.com/a/TRS1Jwk](https://imgur.com/a/TRS1Jwk)
JPMorgan bought Bear Stearns after Epstein’s Mortgage Backed Securities bets blew up. (In Bear’s subsidiary, Liquid Funding — which had its details linked in the paradise papers.) Liquid Funding Ltd was a subsidiary of Bear Stearns, a major global investment bank and securities trading and brokerage firm that collapsed during the 2008 financial crisis. Established in 2000 and based in Bermuda, Liquid Funding Ltd provided financing to its clients by investing in mortgage-backed securities (MBS) and other asset-backed securities (ABS). The company played a significant role in Bear Stearns' operations during the early 2000s. To fund its investments, Liquid Funding Ltd relied heavily on repurchase agreements (repos) and total return swaps (TRS). These are both forms of short-term borrowing that allowed the company to leverage its investments and amplify returns, but they also carried significant risks. 1. Repurchase Agreements (Repos): In a repurchase agreement, one party (in this case, Liquid Funding Ltd) sells securities to another party (usually a financial institution) with an agreement to repurchase the securities at a predetermined price on a specified date in the future. Essentially, repos function as short-term collateralized loans, with the securities acting as collateral. Liquid Funding Ltd used repos to borrow funds, using the proceeds to invest in mortgage-backed securities and other asset-backed securities. However, this strategy depended on the value of the collateral remaining stable. If the value of the collateral fell, lenders could demand more collateral, which would strain Liquid Funding Ltd's liquidity and could lead to a forced sale of assets. 2. Total Return Swaps (TRS): In a total return swap, one party (again, Liquid Funding Ltd in this case) agrees to pay the total return of a specified asset to another party in exchange for a fixed or floating payment (usually tied to a benchmark interest rate, like LIBOR). This allowed Liquid Funding Ltd to gain exposure to the returns of MBS and ABS without actually owning the securities, and without the need for a large upfront capital investment. However, TRS carry counterparty risk, as the other party to the swap may default on their obligations. From 2001 to 2007, Liquid Funding Ltd's use of repos and TRS amplified its risk exposure, as the company was highly leveraged and its investments were concentrated in the mortgage and housing markets. As the housing market began to decline in 2007 and the value of mortgage-backed securities plummeted, this created a cascade of problems for Liquid Funding Ltd and its parent company, Bear Stearns. With the drop in the value of the securities, lenders in repurchase agreements demanded more collateral, straining Liquid Funding Ltd's liquidity. At the same time, the counterparty risk associated with total return swaps materialized, as some counterparties defaulted on their obligations or demanded additional collateral. This led to forced asset sales, further depressing the prices of MBS and ABS. The troubles at Liquid Funding Ltd contributed to the broader instability in the financial system, as the decline in the value of mortgage-backed securities rippled throughout the market. Bear Stearns, already grappling with its own liquidity problems, eventually collapsed in March 2008, which intensified the global financial crisis.
Newron Valuation Report “Back to pivotal” Evenamide data provides a brilliant start to the New Year Despite exciting 6-month interim results of the first 100 patients enrolled in “Studies 014/015” of evenamide in TRS, Newron trades just above its cash value. Xadago, its marketed drug for Parkinson’s disease, and its key driver, evenamide for schizophrenia, are virtually free. Further clinical progress of evenamide in schizophrenia and starting the PD-LID label extension trial for Xadago should add significantly to the value while reducing the clinical development risk. Moreover, the exciting “Studies 014/015” interim data might trigger a potential global partnering deal with a major CNS player earlier than expected, providing further equity upside. Key catalysts include: 1. Full results “Study 014” trial of evenamide in TRS (March 2023) 2. Start new label trial Xadago in PD-LID (H1 2023) 3. Results pivotal “Study 008A” trial of evenamide in non-TRS (H2 2023)
My two cents is that we are not scared enough of private assets. SVB's rapid demise also showed how it tried to hide it's issues through the absence of mark to market by reclassifying it's security as HTM/hold to maturity. Banks have been leveraging alot of this HTM designation through accounting tricks. They might have gotten away if volatility was lower, if hikes were slower and if inflation went down faster than expected. But that didn't happen, so and in the end bad balance sheet triggered the run on bank. So absence of MTM by banking on holding to maturity, high sensitivity to duration, benefit from cheap liquidity...the closest to this I think would be PE firms. Blackstone, for instance, put limits on its outflows while it gets screwed by the fall in asset values that aren't marked to market. If the music stops and their partners slow down the money inflow to be beef up their liquidity, then they don't get to play hot potato with the problematic assets such as: * Cash hungry startups that can't do an IPO in the current environment * Debt-saddled firms that need to pay large amounts of floating rate loans/whose fixed rate debt needs to roll. Especially those that are in the middle of capital intensive projects with no good exit Of course, all this is priced in to some degree. But what's priced in might just be the market risk of lower profitability and lower discounted realized gains, and not the risk of liquidity causing a squeeze. I think concerns of PE has weak but neat ties with the events we've seen in the past year, such as what happened with UK pension plans death spiraling in selling gilts for liquidity, Archegos death spiraling in closing it's TRS due to volatility, etc...
By fucking if you mean Actual Development , then yes i will clap for them , Atleast those hindu nationalist have guts to do or Atleast try to do Development Whereas Socialist parties in India surrender even before trying to do Development , There are other opposition parties like BJD or TRS who are also pro development why can't to learn from them if you can't learn from hindu nationalist Ask yourself if you are getting fooled by GENERIC and used up Democracy is danger like statements Do you really think with Indian army and Somewhat OKish judiciary that Democracy is in danger? 😂
Their personal computers were non-differentiated. A TRS-80 was not much different from those of a dozen other manufacturers. Tandy is probably much more like Best Buy today which makes dozens of electronics products under its Insignia brand. RadioShack/Tandy was basically the Best Buy of the time.
Yes it was. But remember a few things, like in the late 60s early 70s, people fixed a lot of things and there was a need for all sorts of parts and pieces. Tubes to replace a burned out tube in a stereo or in the back of a TV, longer phone wires for the kitchen phone, batteries, batteries, Radio Shack about had a corner on the cheap battery market and was the only place to buy and get rechargeable batteries. (Ever seen those things that looked like light bulbs inside the back of an old TV or stereo, before things went solid state and transistor? Those were tubes and the only place to go get new tube to replace a burned out one was Radio Shack.) And as for those TRS 80 computers, well most people didn't own any computer back then, but for the few, to buy a TRS 80 or Commodore 64 computer, again, Radio Shack, because where else were you going to buy one? Macintosh and what we call the PC computer didn't come into existence until the mid to late 80s, and the strictly "Apple" computers in those days were not Macintosh computers and so were either kit computers sold by mail order, or educational computers sold directly to schools and such by salesmen. Radio Shack should have become CompUSA or Best Buy by moving to a bigger store concept, but they didn't, too many little franchise stores but no big ones. At first they were THE place to go get a new fancy mobile phone, then suddenly other phone stores starting popping up, and suddenly nobody fixed anything anymore and everybody just trashed and replaced broken electronics, lots of places sell cheap batteries now, etc. Still, the single best performing stock on the stock market from 1966 to 1982 was Radio Shack.
Actually, the time is now, but only if you can figure out what small cap is out there now which will end up in the top 10 just 20 years from now. In the 80s at one point IBM was the top American corporation, while 7 out of the top 10 were Japanese. Near the end of the century the biggest was GE, while Google, Facebook and Amazon didn't even exist yet. If your time machine drops you off in the early to mid 1960s your best bet would be to buy stock in a company first known as Tandy Leather. They started Radio Shack, Tandy Radio Shack, and that was the number 1 performing stock from 1966 thru 1982 and continued to do good after that for about 18 more years. In addition to like a million stores they also produced the single best selling model of computer to this day, the TRS 80. They even had a stock split in 1999 before suddenly they peaked and then started going down, fast, faster than Blockbuster, etc. So, remember come 1984 sell your Tandy Radio Shack and buy Blockbuster, then come 1994 sell your blockbuster and buy Apple on a big dip. 5 or so years after that start looking to sell some Apple to afford some stock in some startups and IPOs like YouTube, Facebook, Google and Amazon. It's not so much that the best time to invest was 30 years ago, BUT considering most of the current top 10 didn't even exist just 25 years ago, so you can already buy half of tomorrow's top 10 cheap. Remember, a lot of people invested a lot of money 30 years ago in General Electric, the biggest and the best, but they should have been buying hurting Apple even though its price had been falling for years and even though it's revenue and business had been going down for years, because that's right when it was about to make its big turn around and head back up for the next 30 years, up and up to the top where it now sits. Remember, IBM used to be at the top, GE used to be at the top, so my opinion is, Apple's days are numbered, and even if they don't go the way of Radio Shack or Blockbuster Video, I doubt they will stay on top, or even be in the top 10, for more than just a few more years. If history is any guide, a lot of today's top 10 will have dropped out, gone way down or even gone bankrupt 20 years from now, so it's the same game, what's going to be at or near the top 20 years from now, not now, but 20 years from now, something small, something that just started up, something nobody else seems to be noticing, like buying Tandy Leather stock in 1966, or Apple in 1976, or Google or Amazon after the turn of the century, etc. If you can just figure out which small company stock to buy, then right now is a great time, before everybody else realizes that they are fast becoming the next big thing.
TRS doesn’t explain everything for me. I spent a few years trading Indian single stock names and would only ever go short in US-listed ADRs, I highly doubt anyone would be willing to write you a short TRS if their position wasn’t hedgable. The other thing I can think of is whether it was part of a foreign-listed ETF that could be shorted.
Can be done with a total return swap (TRS) which can be structured OTC with a broker dealer.
collateral, read up on TRS(total return swaps) here - https://www.investopedia.com/terms/t/totalreturnswap.asp
And remember, MSOS does not buy the shares of the underlying outright, they go through TRS(Total Return Swaps) The counterparty of the swap is the one who is short the underlying. But, because the broker dealer can short for the sake of liquidity, they do not need to report short interest on the stock by internalizing the orders and selling against their own "inventory". Add all of this to extremely illiquid stocks that trade on OTC and start getting a picture of what is going on.
Paid $400 in the 80s for a microwave. That's around $1500 in today's money. Dad bought me a TRS 80 (radio shack personal computer) in 1980 for the same price, minimum wage was $3.10.
Quite honestly I believe some financial institutions will be having bigger issues soon. My main reason for thinking this is a recent interview with munger and buffet and they start talking about derivatives, CDS's and TRS's. At one point Munger looks over to Buffett and Buffett just goes "okay I'll stop there but you'll know who they are soon enough" The bond market fighting the fed is alarming. Securities are still overvalued even if most have come down that's only because they went up so much. The market has been extremely technical lately and a retracement has been happening slowly over the last year. At some point it will make its next leg down, it's just waiting for a reason. I'll gladly be wrong but if we're looking at bubbles in the past and comparing it to this one, we haven't even begun to pop. We've just let a bit of air out.
>1. Evenamide looks promising in treating TRS, and the full results of Study 014 will be released in March 2023. 2. Xadago also has potential in treating PD-LID, and a new label trial will start in H1 2023. 3. Results from the pivotal Study 008A trial of evenamide in non-TRS patients will be available by H2 2023.
It’s pretty simple. You access this equity without losing value via hedged margin loans. Take out a margin loanwith your stock as collateral, write a TRS on it, puts, whatever you want- boom, lots of liquidity and write off the interest on your taxes. Zero downward pressure on share price, access to as much money as you can get collateralized loans for.
yes it is very possible & probable. the swaps are just a total return contract on the stock without taking ownership. ^the custodian of the underlying swaps contract has to hedge their position which includes selling the underlying. ^There are several types of risk that parties in a TRS contract are subjected to. One of these is counterparty risk. When a hedge fund enters into multiple TRS contracts on similar underlying assets, any decline in the value of these assets will result in reduced returns as the fund continues to make regular payments to the TRS payer/owner. ^If the decline in the value of assets continues over an extended period and the hedge fund is not adequately capitalized, the payer will be at risk of the fund’s default. The risk may be heightened by the high secrecy of hedge funds and the treatment of such assets as off-balance sheet items. ^Both parties in a TRS contract are affected by interest rate risk. The payments made by the total return receiver are equal to LIBOR +/- an agreed-upon spread. An increase in LIBOR during the agreement increases payments due to the payer, while a decrease in LIBOR decreases the payments to the payer. Interest rate risk is higher on the receiver’s side, and they may hedge the risk through interest rate derivatives such as futures. ^The Banks(counterparty) will have "ownership" while the ETF has to pay interest over the period in time which is cashflows for the bank. its in the best interest of the bank if the said equities dont rise in value thus still collecting payments from the receiver without having to pay out the return on the swap. ^The counterparty of the swap is the one who is short the underlying. But, because the broker dealer can short for the sake of liquidity, they do not need to report short interest on the stock by internalizing the orders and selling against their own "inventory"
>Are people fleeing this from fears they won't be able to serve as their own property manager efficiently I'm a bit unclear which company you are asking this about. RITM is a mortgage REIT and doesn't manage any properties. It originates mortgage loans and invests in mortgage-backed securities. These mREITs scare me to death so I avoid them like the plague. I actually own shares of GLPI and love the company. They are wonderful properties with a high NIMBY components. Why do I *like* NIMBYism as an investor? Because I like moats or barriers to entry. It's typically not exactly easy to put up new casinos around America compared to other types of property, so this means they get to make higher profits and worry less about new competition. However, it's important to note that GLPI does not serve as its own property manager. This is from GLPI's 10-K: *The REIT generally must not operate or manage the property or furnish or render services to tenants, except through an "independent contractor" who is adequately compensated and from whom the REIT derives no income, or through a TRS.* These are the entities that operate GLPI's properties (again from the 10-K): >As of December 31, 2021, GLPI's portfolio consisted of interests in 51 gaming and related facilities, including Tropicana Las Vegas, the real property associated with 34 gaming and related facilities operated by Penn, the real property associated with 7 gaming and related facilities operated by Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars"), the real property associated with 4 gaming and related facilities operated by Boyd Gaming Corporation (NYSE: BYD) ("Boyd"), the real property associated with 2 gaming and related facilities operated by Bally's Corporation (NYSE: BALY) ("Bally's), the real property associated with gaming and related facilities at Live! Casino & Hotel Maryland operated by The Cordish Companies ("Cordish") and the real property associated with 2 gaming and related facilities operated by the Casino Queen Holding Company Inc. ("Casino Queen").
shorts have been creating IOUs for the last 2 years, Up-listing will show every brokerage how much IOUs they have and will clean up the mess for their customers. since they have traded on OTC and CSE(Canada just banned Naked shorting) so its not hard to tell that its all naked shorting. The shorts are fucked and have been, but lets keep them fat and greedy like the pigs they are so we can see them squirm as they look for real shares to deliver or foot the bill for the "good ones". If you are short you're screwed with all the IOUs floating from the past 2 years of greedy short manipulating prices with a negative recursive cycle of naked shorting and ETF hedging, because up-listing shows all the brokerages the REAL shares floating and actual shareholders, NOT synthetics. Market dynamics alongside a 90% cash business(that needs banking/ custodianships) + new regulation is Short squeezers wet dream. I think some were smart and closed some of the position after Canada banned naked shorting(and after biden changed stance) but most just got more greedy. The lack of liquidity has helped shorts but it also hurts them because of how much IOUs they have created. Remember that OTC is a Broker Dealer network and not an actual exchange. ts always been a liquidity issue in this sector, specifically MSOs. MSOS has had increasing inflows over the past month so when we see the ETF pushing higher mid day then it dump at the end of day is classic SWAP hedging along with shorts jumping on the hedge for a quick ride. It has been a negative recursive loop with not enough liquidity on the buy side throughout the past 18 months. Naked shorting also plays a big role in the supply/demand. Safe will fix this. The real trade is the OTC up - listing liquidity event. If you dont understand why there has been a 2 year downturn in cannabis starting in the bullmarket of the last 2 years in USA cannabis stocks, do a little DD into liquidity and market dynamics + TRS hedging + FTDs(IOUs) and naked shorting. The market hates that retail figured this out thats why GME poked a porthole into the inter workings of the market when it comes to swaps & naked shorting. The DOJ went up into Canada looking for naked short HF + MM that have been manipulating prices, hence why Canada banned Naked shorting out of the blue. MSOs are majority owned by founders/ insiders and retail. Most MSOs are low float, so if the office cant find any "real" shares to buy with, they will be taken for a nice long ride.
Lol, it’s most likely a TRS trade. Someone wanted to take a position off of their books onto swap. Market on close trade. It happens.
because the custodian of the underlying swaps contract has to hedge their position which includes selling the underlying. There are several types of risk that parties in a TRS contract are subjected to. One of these is counterparty risk. When a hedge fund enters into multiple TRS contracts on similar underlying assets, any decline in the value of these assets will result in reduced returns as the fund continues to make regular payments to the TRS payer/owner. If the decline in the value of assets continues over an extended period and the hedge fund is not adequately capitalized, the payer will be at risk of the fund’s default. The risk may be heightened by the high secrecy of hedge funds and the treatment of such assets as off-balance sheet items. Both parties in a TRS contract are affected by interest rate risk. The payments made by the total return receiver are equal to LIBOR +/- an agreed-upon spread. An increase in LIBOR during the agreement increases payments due to the payer, while a decrease in LIBOR decreases the payments to the payer. Interest rate risk is higher on the receiver’s side, and they may hedge the risk through interest rate derivatives such as futures. The Banks(counterparty) will have "ownership" while the ETF has to pay interest over the period in time which is cashflows for the bank. its in the best interest of the bank if the said equities dont rise in value thus still collecting payments from the receiver without having to pay out the return on the swap. The counterparty of the swap is the one who is short the underlying. But, because the broker dealer can short for the sake of liquidity, they do not need to report short interest on the stock by internalizing the orders and selling against their own "inventory"
They are tokenized total return swaps (TRS)
Basic, really? Does that go back as far as TRS80?
*There are several types of risk that parties in a TRS contract are subjected to. One of these is counterparty risk. When a hedge fund enters into multiple TRS contracts on similar underlying assets, any decline in the value of these assets will result in reduced returns as the fund continues to make regular payments to the TRS payer/owner.* *If the decline in the value of assets continues over an extended period and the hedge fund is not adequately capitalized, the payer will be at risk of the fund’s default. The risk may be heightened by the high secrecy of hedge funds and the treatment of such assets as off-balance sheet items.* *Both parties in a TRS contract are affected by interest rate risk. The payments made by the total return receiver are equal to LIBOR +/- an agreed-upon spread. An increase in LIBOR during the agreement increases payments due to the payer, while a decrease in LIBOR decreases the payments to the payer. Interest rate risk is higher on the receiver’s side, and they may hedge the risk through interest rate derivatives such as futures.* The Banks(counterparty) will have "ownership" while the ETF has to pay interest over the period in time which is cashflows for the bank. its in the best interest of the bank if the said equities dont rise in value those still collecting payments from the receiver. The counterparty of the swap is the one who is short the underlying. But, because the broker dealer can short for the sake of liquidity, they do not need to report short interest on the stock by internalizing the orders and selling against their own "inventory"
Plot twist : she dates only leveraged gigachad TRS traders who use them to avoid the 5% filing rule.
Whenever I've seen total return swaps explained online, it's usually connected to LIBOR rates. Could be wrong. Maybe this has changed, but my central point is **swaps are connected to some kind of interest rates which can change at any time for any reason.** >A TRS contract is made up of two parties, i.e., the payer and the receiver. The payer may be a bank, hedge fund, insurance company, or other cash-rich, fixed-income portfolio manager. The total return payer agrees to pay the TRS receiver the total return on an underlying asset while being paid LIBOR-based interest returns from the other party–the total return receiver. The underlying asset may be a corporate bond, bank loan, or sovereign bond. The total return to the receiver includes interest payments on the underlying asset, plus any appreciation in the market value of the asset. The total return receiver pays the payer (asset owner) a LIBOR-based payment and the amount equal to any depreciation in the value of the asset (in the event that the value of the asset declines during the life of the TRS – no such payment occurs if the asset increases in value, as any appreciation in the asset’s value goes to the TRS receiver). Source: https://corporatefinanceinstitute.com/resources/knowledge/finance/total-return-swap-trs/ So this is my main issue. Counterparty risk is really icing on the cake, when we consider just how unlikely that is to happen, vs. interest rates increasing rapidly, which **is happening as we speak**. But even if they weren't, IR increases are always going to be a non-low-probability event, as such an environment has occurred for a large chunk of our economic history. One's entire investing/retirement journey could easily be entirely encompassed by a rising rates environment. So LIBOR or SOFR or whatever goes up --> expense on your leverage goes up --> **both** stocks and bonds go down --> leveraged position is thoroughly screwed. Again, I want to be wrong, but this is my current understanding. People are backtesting these ideas encased in a fluffy, easy lowering rates environment. Not only is that a massive assumption on its own, but it's being proven wrong as an assumption as we speak.
Posting collateral vs exiting the contract. We know the TRS (total return swaps) involve perpetual contracts that they intentionally abstain from closing as to postpone a tax event.
TLDR: total return swap (TRS) transfers both the credit risk and market risk of an underlying asset. enjoy all of the cash flow benefits of a security without actually owning the security... Hwang around to find out...
If you mean total return swaps, depends. ​ If an institution were to short an asset through a ''short total return swap'', it would not show up as it is an over the counter derivative. ​ However, any counterparty of a total return swap tends to hedge the position in order to be delta neutral (they get money from the fee). This means the issuer of the TRS would short the asset, which would show up on SI.
It can't take. It's the hedge against GME in the TRS
It’s not that simple, believe me. The naked shorts have been using DOOMPs (Deep out of the money puts) married with long-dated calls to hide their positions from reporting since March ‘21. On top of that, TRS (total return swaps) can be used to transfer the counterparty risk to a larger firm with more liquidity, essentially placing a margin bomb in someone’s account when the dividend hits. Shit is about to go down, and there’s only one strategy you need to win. Buy. Hold. DRS.
Margin is fed funds + 20-30 bps according to AQR [(p. 471)](https://eorder.sheridan.com/3_0/app/orders/6813/article.php#469). How small can TRS spreads be?
My guess is SI was hidden via TRS and something might change that in the near future making SI numbers increase. They’re just trying to get out in front of it. But nobody really knows what tf is going on because there is zero real transparency in the marketplace. It’s designed to have dark corners for shady people to operate.
You mean the lying about having the collateral or about the exclusivity of the pledges? **True that it is a type of fraud**, but banks (and the SEC) willingly allowed those as long as it helped banks make a buck. Banks by not taking custody of collateral to ensure it exists, and SEC by not recognizing that TRS can be used by clients to amass stock to the point of allowing prices to be manipulated.
Less than 40% for the pre March investors. Imagine losing 60% during 2021's bull market. Plotkin lost 7 billion in 1 month back in 2021. I bet there are additional basket swaps Melvin has offloaded. Hidden in total return swaps. https://i.imgur.com/mQhtvzm.jpeg CFTC reporting 365 trillion outstanding for TRS. This is over 12X the entire value/cap of the US equity market. TR Swaps is literally what Hwang and Archegos used to overleverage and blow themselves up. The same vehicle Morgan Stanley is using, the same one that Melvin Capital is using, on and on and on. This is the contract vehicle you use when you want to suppress short interest. Data from this week shows that Archegos alone may have been 500+% short on Futu when public SI only reported 13%. Hoping Hwang is the canary that blows up the entire TRS shit show.
My first computer was a TRS-80. I've been programming computers since the age of 10. I objectively know how to use technology. I too think Android is trash compared to iOS.
These loans have to be hedged right? It’s dumb if the banks don’t. Same way how bill hwang bought TRS and banks bought underlying to hedge, when the banks loaned out money against these shares they should have sold some to hedge right? Since it is basically like Elon selling his share if he doesn’t intend to repay the money.
I guess it could have been done using swaps? Getting a few yards of SPX TRS is pretty straightforward. Trying to negotiate the same TRS sans certain stocks would be a bigger headache.
He got arrested for material fraud by pledging the same collateral against multiple ISDA lines to place outsized TRS trades he otherwise wouldn't have been able to Bill Hwang gon dun fucked up
TRS-80 Computer from Radio Shack. Saw it in the Computer Museme
Yea, I am gonna have to do some research on the TRS and 401k situation but thanks for your help!
Thank you! I am gonna do some research on the TRS and 401k but thank for the chart and the links I appreciate that!!
[https://www.bogleheads.org/wiki/Getting\_started](https://www.bogleheads.org/wiki/Getting_started) So I believe TRS is some sort of pension not sure if they offer an 401k but you can open a Roth IRA and contribute 6k per year to that. Probably follow the PF flow chart https://i.imgur.com/u0ocDRI.png
> TRS I just realized what this was. This is probably what you are getting instead of a 401k. You'll want to read up on how this works and see what your options are. If its a pension fund then you should be set. If it offers investment choices like a 401k does then go with a low cost index fund if possible.
Hi all, I just got a 20k raise from 42k to 62k and I am single 22M with no kids, no debt, and very little expenses (~1500monthly in TX). I was moderately comfortable on 42k and I don't wanna go crazy and try to live a more "luxurious" lifestyle now with this raise. I have seen (and keep seeing) a bunch of people saying they wished they would've started investing/saving when they were younger. I don't have single clue on where to start, or how to invest (if I should invest? Or do some sort of compound savings?) I know my job takes 8% of my earnings to TRS but I think thats all I have. I don't even know the basics and I want to try to learn and educate myself on this and I have tried a few YouTube videos but I didn't think it was that helpful. If anyone knows a class, certain videos, or has any advice or knows where I should start I would really appreciate it! I want to try to jump on this before life catches up to me and I am no longer in this financial position.
>TL;DR Broker Dealers (primarily believed to be the big banks) are estimated to have borrowed at least 5.72M shares of GME from mutual funds and ETFs. The funds are exposed to potentially catastrophic securities lending counterparty loses. The brokers are also exposed to risks in multiple areas. They are; relending the shares, they own shares in the funds that are originally lending the GME shares, and their own company's shares are within some of the funds' holdings. (Insert WTF face) I'll explain more. This is correct u/Freadom6. Here is this thing about the truth: It is **always consistent** no matter how ludicrous everything else is. Additionally, it is possible reach the same truth through different methods. Copying and pasting a different comment with edits I made to explain why these bank 'tards must have a stupid amount of exposure. *** Reality is all the prime brokers are short GME because they accepted a Bearish Credit Default swap and hedged this by shorting the underlying (GME +Basket of stocks.) . This means all the prime brokers have been holding a bag of shit since GME went to 90+, and they will go bust when GME moons. This will also throw and ugly wrench into the financial system, and people are going to be pissed. You can come to this insane conclusion by: 1. Understanding what CDS are, that they can payout on an increase or decrease of the underlying. (See post: BEARISH (Negative) EXPOSURE TRS/ETRS: The Full Run-Down & Why The Market Is Most Definitely F**ked) (Auto mods get spicy, so I'm not linking it.) u/zyzzbrah21 2. Read the Archegos Credit Suise collapse report. Bill Hwangs concentrated bullet swap positions (that would payout when a basket of assets dropped in price), mirrored among several prime brokers that didn't communicate with each other. Had there been more rigorous swap reporting guidelines, risk management would have rejected being a counterparty to Hwang. (Ideally.) 3. Combine points one and two. Its all how they went short GME + basket to hedge a bearish default swap. Prime brokers often are also market makers, so they can even naked short the underlying to hedge a swap. Really should be a no-no but Wall Street does whatever it wants. I just wonder: Who else beside Hwang made these swaps. *** More notes about how there is something batshit insane lurking at the heart of our financial system with GME at the Center. A) Statistical evidence showing how a bunch of unrelated stocks move in price leans toward basket theory being true. (I.E these bearish CDS on a basket of stocks as the underlying exists and is large enough to influence price movements.) B) u/Get-it-Got's work showing there are waaayyy too many GME shares in existence. Gives credence to the existence of some ludicrous positions in the financial system. There is something fundamentally wrong here. These numbers shouldn't be possible. Re lending might explain part of it, but I'm not sold. C) Reverse Repo exploding. This means something is wrong with plumbing of the financial system. You can see Citadel's balance sheet that they have been participating in reverse Repo operations. I forget how this helps them, but this isn't normal behavior. And securities sold but not yet purchased is a huge liability. D) Broccaaa's work. I have to familiarize with options nonsense to hide risk.
Because its cheaper to short the stock than to cover the short...until it isn't and everyone covers and the price explodes. Reality is all the prime brokers are short GME because they accepted a Bearish Credit Default swap and hedged this by shorting the underlying (GME +Basket of stocks.) . This means all the prime brokers have been holding a bag of shit since GME went to 90+, and they will go bust when GME moons. This will also throw and ugly wrench into the financial system, and people are going to be pissed. You can come to this insane conclusion by: 1. Understanding what CDS are, that they can payout on an increase or decrease of the underlying. (See post: BEARISH (Negative) EXPOSURE TRS/ETRS: The Full Run-Down & Why The Market Is Most Definitely F**ked) (Auto mods get spicy, so I'm not linking it. 2. Read the Archegos Credit Suise collapse report. Bill Hwangs concentrated bullet swap positions (that would payout when a basket of assets dropped in price), mirrored among several prime brokers that didn't communicate with each other. Had there been more rigorous swap reporting guidelines, risk management would have rejected being a counterparty to Hwang. (Ideally.) 3. Combine points one and two. Prime brokers often are also market makers, so they can even naked short the underlying to hedge a swap. Really should be a no-no but Wall Street does whatever it wants. *** 4. Statistical evidence showing how a bunch of unrelated stocks move in price leans toward basket theory being true. (I.E these bearish CDS on a basket of stocks as the underlying exists and is large enough to influence price movements.) 5. Get-it-Got's work showing there are waaayyy too many GME shares in existence. Gives credence to the existence of some ludicrous positions in the financial system. 6. Reverse Repo exploding. This means something is wrong with plumbing of the financial system. You can see Citadel's balance sheet that they have been participating in reverse Repo operations. I forget how this helps them, but this isn't normal behavior.
Imagine that OP didn't know the TRS is 26 billion and the 3 million it lost is... nothing... but OP requested we meet him have his retarded moment
Serious question. Since MSOS is only entering TRS agreements with banks, and not buying stock, how does it drive stock price? It’s not demanding any stock on the exchange. I suppose the counterparties have to buy the underlying stock as collateral?
Help me understand what you mean by "naked short selling". What instruments do you use to do it? Asking because your post seems to suggest there's no clock on NSS, as in it could be done for free? I'm not aware of any way of doing it for free or in a way that is significantly different from your the "normal" SS. Even something like a TRS will require you pay the financing leg. Selling an option will require tons of margin, if the option is not covered (i.e. naked) which puts you not in a clock but at the whim of the market to wipe you out in any larger move against you. Maybe I'm missing something?
That is correct. I’ve been constantly following GME’s beta on Yahoo finance and by overlapping the charts, here’s what I was able to identify: on average in 2021 GME’s beta was bouncing around -2, dropping to current ~1.5 starting from November. This is in itself an incredible coefficient, which I, personally, have never seen on any other asset, not even close. So, yes, GME inverses the market trends even more so than gold does at least statistically - numbers can’t lie. What is really difficult though, is to organise and structure those correlations/deviations. There were periods when GME and TRS basket were booming (10-20-30%) while broader market crashing; there were occasions when stonk was dropping and market was going up; but lately, I would say from November, GME has been dropping with amplification compared to how the general market was crashing. My current hypothesis on neg-beta is also related to one of the DD’s by HDHank and later developed by other famous DD writers - where he elaborated on the meme basket. A very compressed view: MMs and SHFs created a basket of stocks sometime before covid crash (through TRS), to have a short exposure as a hedge for their long positions (generally in Tech and other growth stocks). As you probably know, their short play went terribly wrong and thats the fundamental reason why stonk moves the opposite way - the positions are structured as such. Now how do we explain the GME nosedive from November? Well, I think that our opponents were exiting long positions, but still aggressively shorting ‘meme’ basket, in order to maximise the profit from year long puts they jumped in when they disabled the buy button in Jan. I also assume that they converted a lot of those profits into GME calls (that’s what current OI points at) and flipped side to some proportion.
that’s what i also got from the recent TRS stuff that was posted last night.. upside down positions aren’t closed like regular normal shorts.. and therefore the issuer (company + investors) aren’t realizing upwards price movements. so basically just another in the bag of tricks of price suppression.. on top of the MM “wholesaling” applying buys to the market precisely when they want.. or adding more to the pile of fails on the short side.. it’s quite the shit show when you really think about it.
Cuz only morons think that they have covered in Feb till March. Like let’s be serious, what would be the amount of people how sell from 40$ till 80$. Almost none. They also wouldnt cover that fast when they arent getting liquidiated. Price discovery is a thing. Off sheet balance derivatives like TRS make hiding SI possible… since you don’t have to REPORT the SI. If you ever try to purchase a micro cap stock with 500k budget… you literally triple the market cap with ease if u push it fast. Hedge funds don’t hate money. Also they didn’t cover a single share bc it’s all or nothing. Either they win or they will be bankrupted. DeepFuckingValue is extremely shrewd, he might be kind but he at least gets the point of what is going on. He is able to separate worthless data from valuable data.
You are right that SI is wrong, nobody knows because hedge funds don’t have to report naked shorts during TRS cycles.
So SXT, THN, and TRO are the next big thing? Calls or Puts? And what’s the last one? TRS? TBS? I hope it’s not IBS or IRS, they both fuck my ass.
>but when it rips does it even matter The question is which run up will be the last. If you miss, the options expire worthless. We've had multiple runs to 200+ and back down again. There is some stupid cycle related to options, variance swaps, and whatever undisclosed gigantic derivative nonsense hiding in the plumbing of the financial system. Look. Bill Hwang can't be the only degenerate who used derivative contracts and family office loophole, holding an undisclosed bearish position on this ticker. Its been shorted to shit for years. *** Additionally, its the prime brokers that hold the actual short position by accepting a bearish default return swap with GME basket as the underlying. Read the Credit Suisse report on Archegos collapse. This knowledge combined with learning how bearish credit default return swaps + BAC being Citadels prime broker is why I have put options on all the banks. Fuck 'em, they shorted GME to hedge the swaps, and a short position when GME was at 10 dollars is negative bomb waiting to blow up. (See Read: BEARISH (Negative) EXPOSURE TRS/ETRS: The Full Run-Down & Why The Market Is Most Definitely F**ked by zyzzbrah21 ) *** Depending on how much you have to throw at this play, I'd buy shares 2 leap options, with money that I'm 100% ready to lose, and long put options on the banks. Particularly the ones receiving stupid amounts of reverse repo and in the Credit Suisse DD. I have puts on BAC, HSBC (from evergrande), citigroup (RR), and Credit Suisse. Most due in march and all of which have lost half their value. But maybe the Fed will raise interest rates and banks go ka poot. Maybe I'll get JP and Goldman sacc puts, but those are more expensive. Maybe I'm wrong about shorting the banks, and I know nothing. Maybe one of them will be the new Lehman brothers.