Why are you promoting content by Martin Shkreli? You know, the guy who committed securities fraud to rip off desperate patients?

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loco5niner 5 hours ago | parent | next [-]

I really don't like this guy, seriously he's a shark (he's probably right, but what a jerk): "If you know somebody has to liquidate, the best thing you have to do, unfortunately, sadly, Darwinian is to go sell all the positions you have in common, then start shorting everything they have. It accelerates the downfall as quickly as you can." of course then he says 'It's nothing I would ever do...'

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infecto 5 hours ago | parent [-]

That’s truly the playbook when you are on the other side of a levered firm though.

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loco5niner 5 hours ago | parent [-]

Yeah, probably. Its too bad.

	▲	ymolodtsov 5 hours ago \| parent \| next [-]
		If there's any purpose in hedge funds as a structure it's that they provide liquidity for the market. So it's in everyone's best interest to let them do price discovery against each other.
	▲	infecto 5 hours ago \| parent \| prev \| next [-]
		Why too bad? This is how the market ultimately comes to the right price.
	▲	literalAardvark 5 hours ago \| parent \| prev \| next [-]
		Not really. Using leverage has risks that you're supposed to understand before you do it. It's not a free lunch, unless you're putting the sharks' interest ahead of yours. Or clueless, which was the case here, as L.A. is not a trader and has no business running a fund.
	▲	quickthrowman 4 hours ago \| parent \| prev [-]
		Too bad for the people that were overleveraged? I don’t see why, they assumed too much risk and lost. This isn’t a WSB guy blowing up, it’s a collection of capital from sophisticated investors that understand the risks.

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literalAardvark 5 hours ago | parent | prev | next [-]

Because hn is primarily about competence, knowledge and tech, which Martin has in spades.

The arguments against him barely hold water in general anyway.

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fred_is_fred 5 hours ago | parent | next [-]

A federal jury sure thought they held water.

	▲	literalAardvark 4 hours ago \| parent [-]
		Martin was convicted on three counts of securities fraud. The TL;DR is he was shilling a successful fund while sitting on massive losses. A Madoff kinda thing. This has nothing to do with what people actually hate him for, and for which he was not convicted, because extracting money from a captive clientele is exactly what the US healthcare system is designed to do.

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eigenspace 5 hours ago | parent | prev | next [-]

lmao

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forgetfreeman 4 hours ago | parent | prev [-]

So competent sociopaths get their roses on HN? Good to know.

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alasr 4 hours ago | parent | prev | next [-]

Why do you think that just sharing a link to an earlier HN post means 'promoting' someone? I referenced the HN post because I found that it's less about Martin Shkreli himself and more about a quality conversation with good analysis about the inner workings of 'Hedge fund' world and market dynamics.

If you've a better source, share it; I'll have a look and might use that one in the future. Otherwise, if you can't contribute in a constructive manner, stop making baseless comments about others intention without understanding them first.

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rib3ye 5 hours ago | parent | prev | next [-]

He has done more for wallstreet-to-mainstreet transparency than you believe.

His investor literacy youtube backlog is unusually deep and as of yet has only shilled his own trading product.

But your point is valid, he will never live down the fraud conviction and his face is so punchable.

	▲	dgellow 5 hours ago \| parent \| next [-]
		The shady crypto projects he did after his release are also good reasons to distrust the guy
	▲	5 hours ago \| parent \| prev [-]
		[deleted]

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gessha 5 hours ago | parent | prev | next [-]

You can still learn from thieves and crooks. Especially if they break down what they did and how they did it.

	▲	dgellow 5 hours ago \| parent [-]
		Just keep in mind you might be the mark of his current scheme

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baggachipz 5 hours ago | parent | prev | next [-]

He's an absolute ghoul, and to see sibling comments praising him breaks my heart. Yeah, he "did his time", but he also took advantage of sick people for immense profit. You don't get a pass for that.

	▲	4 hours ago \| parent \| next [-]
		[deleted]
	▲	malfist 3 hours ago \| parent \| prev [-]
		He's a person that has told the whole world who he is, and some people, especially temporarily embarrassed billionaires on this platform, love him for his unmasked self.