That link is dumb...you have to be a paid subscriber of BusinessInsider to read the full article. Here's the free version: http://www.metalsnews.com/Metals+Ne...illion+betting+on+a+stock+market+meltdown.htm 197 million is nothing to a huge fund or institution. It probably already easily made that loss up, or hedged it in some way. Good trading. and as the Brits say: Good Man.
Here a vivid example that the stock market can go crazy to this the calmest man, you have to give your time for everything, not everything is the stock market. You have to have time for yourself and enjoy life. I would like you to continue sharing in this thread, the development of this news.
What a clickbait title... It wasn't a bet but insurance buying even according to the article. So what, if they are up 10-15% on a 10 billion portfolio paying out 200 mill for insurance is called prudent investment.
That answers the puzzle why he didn't cut loss. It wasn't a trade. It was an insurance policy. No wonder he didn't cut loss. Thanks.
It seems like he doess not know how to read chart and how to analyse trend. Or perhaps he analyse it in rather different way. VIX has been at the support level, and has not been moving for months/years. He was hoping / anticipating it would spike up. It reminds me of this trader Nick Leeson
the article also said "So with all of that established, who exactly is 50 Cent? The mystery behind the trader's identity raged for months before the Financial Times blew the lid off the case back in May, citing four people from trading departments at banks who were familiar with the trades. They found that the volatility bull was none other than Ruffer LLP, a fund whose client roster includes the Church of England". it seems he's a veteran! managing $15 B portfolio. Jonathan Ruffer https://en.wikipedia.org/wiki/Jonathan_Ruffer