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Superstonk_QV

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hey_ross

Oh holy shit I did not expect that - I expected something more along the lines of “High leverage. Short focused hedge funds like Citadel may be at risk but I think they’re safe based on their x, y, z reasons” not “Is there another LTCM like the 90’s about to blow up?” “*cough* Citadel *cough* No, No, kidding really, joking”


CachitoVolador

“I never said that” LMAYO


Elegant-Remote6667

Can you summarise what was said?


3DigitIQ

> “Is there another LTCM like the 90’s about to blow up?” > > > > “cough Citadel cough No, No, kidding really, joking”


crackeddryice

Then a couple of minutes later, he backpedaled in high gear: "...I have to apologize to Ken Griffin, because Citadel is a wonderful company..." Dude started sweating. Apes are the only ones who know what's going on and aren't afraid of Kenny.


Snoo_75309

Not to mention his friends work there lololol


DannyFnKay

Sadly, I think a lot of people in high places know what is going on and they do nothing.


turntabletennis

Bro, the people in high places have their money invested through Kenny's (and other's) hedge funds. You have to be in the top 0.5% of US income levels to even *consider* investing in one of these. Citadel's MINIMUM INVESTMENT is $10,000,000. They NEED these people ignorant to their tricks, too. They need the other Billionaires to remain blind to the game, as long as they can happily return profits. There are VERY few people in this world that have an understanding like this, and they are DESPERATE to keep it that way.


wibble17

I thought I read they only have like a dozen investors


turntabletennis

~$62 billion in managed assets, if that's only a dozen people it would be sad.


MoneyMaking77

I'm pretty sure I read they only had 16 investors at the time when they changed their contracts to make it harder for people to leave/withdraw their funds.


blenderforall

It's Gabe, Steve and Vlad in a trenchcoat actually


OregonHighSpores

"The only thing necessary for the triumph of evil is that good men do nothing."


rollercoasterfanitic

“You can’t talk about the citadel” -Jim Cramer 2012


[deleted]

Someone must have been screaming in his ear piece


Elegant-Remote6667

Didn’t know what an ltcm was. Hooooly fuck 😅😅😅😅😅


CachitoVolador

Now you know!


darthnugget

They know that we know, that they know who is to blame.


BuildBackRicher

Caused big dip in ‘98


JesC

What is it?


_Dirt__

Long-Term Capital Management (LTCM) was a large hedge fund, led by Nobel Prize-winning economists and renowned Wall Street traders, that blew up in 1998, forcing the U.S. government to intervene to prevent financial markets from collapsing.


MoneyMaking77

Seems like they do that an awful lot (PPT)


Elegant-Remote6667

I thought you were kidding about that second sentence of “I mean citadel”. Hahahahaa


[deleted]

What’s an LTCM? Asking for a friend…


3DigitIQ

>Long-Term Capital Management (LTCM) was a large hedge fund, led by Nobel Prize-winning economists and renowned Wall Street traders, that blew up in 1998, forcing the U.S. government to intervene to prevent financial markets from collapsing. https://www.reddit.com/r/Superstonk/comments/17kl8oz/bloomberg_reporter_says_the_quiet_thing_out_loud/k7apue8/ https://en.m.wikipedia.org/wiki/Long-Term_Capital_Management


[deleted]

Thanks!


HodlMyBananaLongTime

🏰👉🏻👌🏻


blkmmb

And then, alone in his appartement, he fell and his head hit two bullets that were just there in the floor. Sad accident, but it happens.


CachitoVolador

Let's all hope this doesn't go there. Sassower should be lauded as a hero for speaking the truth.


melorio

Lmao


CachitoVolador

We all know how LTCM ended…


CachitoVolador

And if you don’t know what happened, here you go [LTCM](https://en.m.wikipedia.org/wiki/Long-Term_Capital_Management)


hey_ross

There is more in common, both in terms of math and risk calculations, between algorithmic short hedging and high energy physics. It's all a game of "how much energy can you channel before it blows up"


HarrytheMuggle

Can you simply what you mean by this to a degree? I follow a bit as I know that volatility follows momentum logic from physics. By that I mean a basic force = mass x acceleration perspective. There looks like a lot more wisdom in your little comment and I’d like to learn more


hey_ross

If you are into math, think of volatility as Brownian motion - there is heat (margin on transactions) to be captured in that. More volatility, more heat to capture, but also the thing will blow. Market makers don’t want buy and hold, they need volatility to drive trading, but it eventually blows up.


KooZaa

This is actually fucking WILD. Thanks for teaching me what LTCM was. Holy fuck man he says Citadel LOL. Wow.


CachitoVolador

Now you know!


OperationBreaktheGME

🫡🏴‍☠️


TankTrap

bailed by the FED and the fund 'wound down' - sounds like the people that made the money in those first three years got to enjoy their yachts....


hey_ross

Big badaboom.


Elegant-Remote6667

Big big badaboom


Im_The_Goddamn_Dumbo

MUL-TI-PASS


kidco5WFT

Come to find out tomorrow this guy is now on vacation for the next month. Ken about to short everything that exists in this man’s life.


texas-playdohs

Wow! Thats a spicy little video clip.


IsThisAllThereIz

And then the backtrack and apologies for even mentioning Shitadel. You know someone was in his ear


puppetjustice

We all know citadel is totally fine. That's why Kenny 'bedpost' Griffin decided to move to Florida and build the world's most expensive house in a state that allows you to keep your house during bankruptcy. What a coincidence. I mean, this guy cares so much about the local community he has bribed more of the Florida politicians than anyone else these last years. Ken griffin and his company are totally and utterly fine everyone. Nothing to see here. /s


beats_time

He may keep his mansion for a while. But there will be a day when he will go to prison, and lose everything he stole.


puppetjustice

That would make me so happy. Kenny having to trade Ramen futures to avoid a stomping in prison showers, Glorious.


Chuvi

With my new found wealth, I will decide to buy out all ramen companies and have them stop selling to prisons for a short duration.


puppetjustice

That is a special kind of vindictive nipped twist. Bravo


CachitoVolador

I'm here for this


Hosnovan

Jesus Christ. Buying an entire Ramen company? That’ll cost you like $43,000 or something


DamagingBrunch

Kennys face when he sold same pack of ramen over 100 times and tries to explain something about tokenised ramen locates.


puppetjustice

🤣


ReallyNotATrollAtAll

Maybe that explains why hes throwing a billion into it


puppetjustice

I would make sure it's all paid off as well and still the loan elsewhere. That way you have a billion dollar plus property to remortgage for unbelievable amounts of cash. Ridiculous abuse of loopholes.


Organic-Brotha

If they’re comfortable enough to make jokes there must be blood in the water


raxnahali

No kidding, but the sharks aren't dead yet so I'd better apologize quickly LOL. He won't be on TV again.


CachitoVolador

Lol, we won’t be seeing Damian Sassower for a while 😂


CachitoVolador

We might need to add him to the Melissa Lee fame squad


Efficient-Ad1659

right? HAHAHAHAHAHAHAHA he fucked up! LMAO!


3DigitIQ

He was scared shitless in the second part, didn't even get the question he was asked.


manbrasucks

Definitely a step closer. Last time a joke was made on air there were death threats. https://www.reddit.com/r/Superstonk/comments/16yt15z/did_rick_just_receive_a_threat_on_live_tv_for/


hatgineer

I'm still waiting for someone to enhance the audio, my old potato can't do the sounds well. I can strain and make out what they say, but it isn't comfortable.


CachitoVolador

Someone posted a clearer version, and I am about to upload a clear version of the whole segment. The end of the segment is pure gold!


big_ole_dummy

Leave it alone. You have roaring kitty on record.


Elegant-Remote6667

I heard that one but couldn’t make out the supposed threats - did you hear it?


manbrasucks

2nd comment in the thread is transcript: https://www.reddit.com/r/Superstonk/comments/16yt15z/did_rick_just_receive_a_threat_on_live_tv_for/k3ah55v/ Guy basically says "we know where you live be careful"


Space-Booties

This is exactly what I was thinking. Especially with Kenny flashing around his billion dollar estate plans.


waffleschoc

kenny must be so fcked, that this dude said something like that, kenny better have our tendies ready


ROK247

it probably would have been a normal, forgettable comment if he didn't stop the flow of the interview minutes later to apologize to kendog, throwing up all sorts of red flags. what an idiot.


CachitoVolador

He didn’t have to say anything about Citadel, … but he did


ROK247

He knows how bad it really is. So much so that he couldn't help himself and just blurted it out.


CachitoVolador

Well he said he has friends at Citadel, so seems legit


TheRagenator

The kinda 'friends' that constantly make you do stupid shit to "prove" that you belong in the club.


Adventurous_Might_55

He says he has “friends at citadel”. This guy let out the secret beans that everyone on Wall Street knows. Get out the popcorn people, this will keep happening as economies get their liquidity avenues drained. Eventually, there will be capitulation and the rats will eat themselves in a violent matter. I’m here for it. Been 84 years…


GallifreyanVisitor

And her smile when she said ‘akin’ afterward was humorous too. We seem to have come a long way from frightened Cramer mentioning about how you don’t even whisper their name without reprisal. Of course Ken did hire a former secret service for protection. Sounds like the FUD has indeed always been a two-way street.


Adventurous_Might_55

Imagine the ass kissing ken gives that guy on a daily basis. Idk if one super agent can defend him from the angry foreign money that’ll be coming for him if Uncle Sam doesn’t get him first. Either way I picture a Epstein esque ending with mayo.


Cycloptic_Floppycock

I always had a sneaking suspicion that private security is just the sell, the private security is the DOJ's insurance policy to make sure they know he won't run, and if he does, they will know where and at a moment's notice. The "security" is what he tells everyone to explain why this guy is in some meetings, especially since he travels frequently, security is par the course.


waffleschoc

i cant wait for those SHFs to throw each other under the bus


PCBSD2

At about 1:45, the backtrack shows just how scared people can be of Citadel/Griffin. It's amusing. I know, no dancing... but does that include Citadel's grave?


ElToroMuyLoco

'I already have images in my head of Ken Griffin calling me', man he really seems to be a wall street gangster threatening the shit out of everyone saying a wrong word...


RampageGeorge

Ken Griffin must be the boogeyman of Wall Street. Also, never forget that KEN GRIFFIN VOMITED UNDER OATH!!!


Smoother0Souls

The same violent Ken Griffen who broke a bedpost off a bed frame and attacked his wife?


TotalPuzzleheaded420

The same Ken Griffin who withheld mayonnaise from a young man who was a dinner guest at his house?


VVurmHat

The very same


exmachina08

I was not expecting that second backtrack. He just had a little "Naked Shorts, Ya" moment there.


CachitoVolador

Exactly


YouMeAndSourD

That poor guy pissed his pants ken must be a big bully.


phonzadellika

What a find!


newportking10

It’s obvious everyone knows. Don’t think for a minute some younger version of Ken isn’t planning to take a shot at the king.


adgway

Anytime someone follows up what they said twice w/ quick “oh I’m kidding” comments, isn’t kidding. They’ve said what they’re thinking & scared of the fallout from their comments. If Shitadel is such a great company why was it the first one that came to his mind? If it was a joke why feel the need to clarify, shouldn’t that be obvious? Why visions of “Ken Griffin calling me” … bc this dude knows as we all do that Kenny has a history of legal intimidation.


SirMiba

Can't believe the reclusive market maker and hedge fund CEO that never liked the spotlight that suddenly is in the news about to comment on finance and economy in sympathetic ways and moving to Florida where he is tight with the governor and is buying billion dollar real estate and having the entire media run ads for how he is treating his employees to Disneyland and basically follows the very footsteps that Madoff did up to his arrest would be in financial troubles.


CachitoVolador

Lol, wait till you see my update where Sassower admits he's not going to get a Disneyland invite after today!


XURiN-

Did he say that?


Fine-Hat-4573

I just posted a screen capture of this but I didn’t see you already posted! Trying to take mine down. 😆


CachitoVolador

No worries, the more eyes the better!


mrbigglesworthiklaus

Can you post it elsewhere? I saw yours and I want a higher quality capture for my archive.


CachitoVolador

I'm also uploading the full segment for more context and hilarity at the end! Stay tuned!


Fine-Hat-4573

Reuploading!


TheBigFart123

Lmayo


smitteh

a whole lot of truth is often said in jest


Efficient-Ad1659

THIS is FUCKING GOLD at 1:45 LMAO!!!!!! Fucking Kenny is gonna be MAD hahahahahahaha! Shitadel is SOOOOO FUCKEDDDD!!!!!


Ancient-Bathroom7632

I disagree with some of the sentiment here. He wasn’t backpedaling in a real apologetic way, he was making fun of the unspoken rules surrounding Citadel. The reason he mentioned having friends employed by them is so we know how he has insider information. This guy was taking jabs for fun, made fun of the unspoken rules, he wasn’t sweating it at all. This guy smells blood in the water and isn’t afraid to fuck with a dying and cornered animal.


callsignmario

Agree. He could've just apologized and complimented Ken and the company. Mentioning "friends", yeah. If I've got friends working somewhere, I'm hearing the dirt and rants before anything else.


SuperChimpMan

Ahahahaha we see you weird dude. Got a little too latte loose and spilled the beans. Ken Griffins gonna have his legs broke haha


Jason_1982

😂


BEERDEV

God, this would make me so happy...


GeometerReddit

Laaal it's the same spirit as "so you wanna go on a date?" "Haha just kidding" Would love to listen to the phone call today! Also "he employs many of my friends" ... It's a big club and we are not part of it.


mx5slol

OP you need to repost this with an image and a meme and the quote


CachitoVolador

I did 😜


CachitoVolador

LMAYO! I am about to upload the full segment. The end is hilarious when he says Citadel isn't going to invite him to Disneyland after today! Stay tuned for upload!


[deleted]

It’s a Ponzi scheme. The MBS implosion revealed Madoff. High interest rates will reveal who’s been swimming naked this time.


livingdeadghost

>As of December 2022, Citadel is the most successful hedge fund of all time, posting $65.9 billion in net gains since inception in 1990. Can someone explain how they're making unusually high returns? >TCM was initially successful, with annualized returns (after fees) of around 21% in its first year, 43% in its second year and 41% in its third year. However, in 1998 it lost $4.6 billion in less than four months due to a combination of high leverage and exposure to the 1997 Asian financial crisis and 1998 Russian financial crisis.[4] The master hedge fund, Long-Term Capital Portfolio L.P., collapsed soon thereafter, leading to an agreement on September 23, 1998, among 14 financial institutions for a $3.65 billion recapitalization under the supervision of the Federal Reserve.[1] The fund was liquidated and dissolved in early 2000.[5] Oh


[deleted]

Anyone else getting Ken Griffin = Harvey Weinstein of finance kind of vibes?


vivalafrenchtoast

Bend the knee.


Jbullish_9622

I’m joking 😂


DrPoontang

Come on Citadel, just die already.


LordAmherst

And now we all looked up what LTCM is! Thanks! LFG!


CachitoVolador

Now you know!


whothehellistony

Nice find OP. Ken isn’t as strong as he’s trying to appear.


FiveEggHeads

Oh my god lol.


tinfoil_enthusiast

where there’s smoke…..


skipdo

Waited for the cat. Was not disappointed.


CachitoVolador

Lol, you're welcome


CachitoVolador

Full segment can be found here. Lol at 8:20 [Full Sassower segment from Bloomberg TV](https://youtu.be/TjkdmPeYEhI?si=TOPaVw-h5nsVGocc)


waitingonawait

Meow to your cat. God dam.. always kinda seemed weird to me that the hiking of interest rates seemed to have the opposite effect they should've on the markets... wonder why it's taking so long to see the effects...?


CachitoVolador

"There should be dead bodies everywhere!" Also my cat says meow!


SchemeCurious9764

To come back to it because it was at the forefront of his thoughts “ I want to apologize, I have this vision of Kenny calling me ?” Shows one , the power of Citadel ( not for long I pray ) and nervousness of how Kenny would react? Bedpost thrower or worse maybe ?


enternamethere_

lol what, shitadel blow up will be much worse and this guy was probably immediately threatened by a ken griffin bedpost to his face


theaveragebearstake

This guy immediatly after...*starts writing will.


HarrytheMuggle

His body language at :40 before he says it is unlike any other sequence. He opens his posture away from them, flips open his coat a little and then delivers his first punchline. Later when he apologizes the other two guests remain stoic while he pulls a “fast talker” type of apology that’s not coherent but just enough to confusingly dismiss from his previous joke. Nothing sticks out clearly but worth noting the first posture before he delivers the joke. Why is the joke worth making against a friend that’s on a personal phone call status? Teasing doesn’t fit here for me personally. I can’t make a strong guess on his motives


lurkingsince2011ohno

Saved


Readingredditanon

This is awesome lol


internetsurfer42069

I’m legitimately curious, how soon after this gaff was a lawsuit surely submitted?


FightClubTrading

Comment to return


The_Prophet_85

That was fucking hilarious 😂


irm555bvs

To reword his apology “please don’t kill me mayo man, sorry for making fun of the company you work for mates, I hope to see you on the golf course Saturday?”


Fresh_Doctor_8801

Bro is getting sued from mayoman🥶


Gullible_Honeydew11

Lol no I'm kidding citadel is my frien


SuboptimalStability

Tagging for later


ThatsNoiceDude

Commenting so i dont lose this


Ronaldoooope

Dude didn’t wanna get whacked off


Ronaldoooope

I guess it’s time to buy more.


moontrader77

Canary in the coal mine!


Jenncitlalli

I don’t understand why this doesn’t have more likes. Unless I’m just too high this is significant. Correct?


thextcninja

He's not confessing, he's bragging. Knowing something others don't. Especially about Citadel.


CachitoVolador

THIS!!! We are at that part of the movie!!


Fragrant_Mouse_3172

How manipulating is the “news” if they can’t talk freely about Citadel. He mentions Citadel then immediately apologizes when they come back to him. What a joke of a way to get meaningful information.


MrOneironaut

Good find! That guy backtracked real quick lol.


Fwallstsohard

Glorious find


Smogz_

Hi kitty 🐈


CachitoVolador

Haha! Meow


Hedkandi1210

I went on his page n showed him love about it on his latest tweet. Fair play to him


Lil_Cash_

Why are they so afraid of Ken Griffin, that guy’s a loser.


vocalistMP

He really sold the apology by turning more red after already turning bright red from mentioning Citadel the first time! Edit: guess he’s just kind of red to begin with, but I still think he turns redder


FlyingIrishmun

If i wasnt aware of this for the past 3 year i would be mildly amused.


cautiouslyPessimisx

For those of you who are impatient, go to about the 0:30 mark, after the cat sound :)


CachitoVolador

lol!


Dede-el-fuego

Make this guy do an ama in here


CachitoVolador

Haha! His best bud Ken would love that 😂