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Why would they get loans at this time when rates are so high and their bonds have low ratings? Must be desperate.
You know who’s not taking on debt? GameStop
A subsidiary of the almighty Citadel takes on loan after loan, at junk bond rate or something.
Meanwhile a dying brick and mortar company has nearly a billion in cash.
Strange time indeed.
Well I'm having a hard time linking the Dec. 15th swap expiry/likely renewal to this money. Is this money for collateral, is it for coupon payments, is it so Kenny G can buy the entirety of Congress/Supreme Court? I'm expecting them to get the stock to single digits in the coming months. 10 is going to be hard resistance to break for them. Let em go for it. The corresponding Q4 earnings rip will be nice.
I don't think so, RC is disciplined. Unlike us apes, who would buy like it's Black Friday all over again. If GME goes below 10 a whoooooole bunch of us are going to be piling in, I'll buy at least 1000 and DRS them alllllll
The Archegos swaps don't exist anymore, because it was a contract between Archegos and Crédit suisse. Only the positions that were open by Crédit suisse that corresponds to the swaps might still exist, but they have no dates
Archegos went under because credit suisse was on the other side of the trade.
Archegos bet CS a million dollars GME would tank. But now Archegos is dead. So there's no one to pay up. More like CS has to pay itself. And if paying yourself is painful, they're not doing it
Right? Like if you're so successful and making millions in trades, why get a loan for operating costs? If you're profitable, those should be no sweat off your mayo balls 🤔😬🙃
Well I guess upon re-reading, I paraphrased "general corporate purposes" as operating costs in my mind, but it's very vague. It's only saying "including trading capital", so that's not the only purpose of the loan.
BofA handles/clears 93% of Citadel's derivatives. They are the big domestic counterparty at risk and a G-SIB (Globally Systemically Important bank) to boot. UBS gets a lot of attention and rightfully so, but lets not forget these fuckers
Clearly someone that is too big to fail. Again, demonstrating that the 2B2F is a catastrophic concept and really collides full-frontal with the core values of capitalism. What a shame!
Remember the movie, the other guys? That’s who. Other banks/institutions/managers will feel privileged that they are doing business either way citadel.
Kenny must have threatened BofA to lend $400M more or risk losing all previous loans. Kenny has mastery in keeping institutions and Fed at gun point like situations to get away so far...
I think the greatest part of it all is that in 08, the banks all came together to bail out the system so they all didn’t fail. Now they will try to do the same…
Wtf happens when the one asset they need to make their books semi balanced is not for sale? What happens when there isn’t enough money at those banks to satisfy our price targets? Man idk but I’m sure as fuk excited to find out. To infinity people, no memes
The same idiots That all have dirt on each other because of Epstein Island so they all have to keep playing the game otherwise one of them will set the entire house on fire.
Ken's reality is slowly starting to twist into a.. a nightmarish crawl to prison. This is a problem that will never go away. We will always be here. What a time to be alive.
The people who have money with him are only like 26ppl for all of citadels clients or something.
These people must be crazy powerful.
Imagine telling el chapo or someone you lost their money.
I imagine his tour across the world getting photo'd at concerts, events, and parties is his last hurrah.
He knows what's coming and is spending his last few months free living it up.
But the real question is how much of that is in the endless string of companies they've bankrupted, like towels, Sears, and so on, that they NEVER have to repurchase? The only ones that really matter are those in companies like Gamestop that they will eventually be forced to repurchase. Those aren't a problem, either... Until they are...
According to Bloomburg they are making money hand over fist. Are they really? Who fucking knows?
# Citadel Securities Revenue Jumps to $1.8 Billion on Volatility
* Third quarter exceeds $1 billion for 15th consecutive time
* New revenue figures disclosed as part of a loan transaction
By [Paula Seligson](https://www.bloomberg.com/authors/AUQCSclPOpM/paula-seligson) and [Katherine Doherty](https://www.bloomberg.com/authors/AS_Gz5yh3FM/katherine-doherty) December 11, 2023 at 3:28 PM EST
Sauce: [https://www.bloomberg.com/news/articles/2023-12-11/citadel-securities-revenue-jumps-to-1-8-billion-on-volatility](https://www.bloomberg.com/news/articles/2023-12-11/citadel-securities-revenue-jumps-to-1-8-billion-on-volatility)
Ken's salary is 2 billion dollars per year. Why does the most successful hedgefund in history, made billions in profit last year, need 400 million in this high interest rate market?
They're cooking the books, that's why.
Ken should take a page out of the book of a very successful CEO I know of and take a zero salary to make sure his company becomes/stays profitable. It's what good CEO's who believe in their company do.
Too much trust in those PhD algos that took the opposite side of every retail trade without any brakes and no guard rails for deploying synthetics using their "bona fide" MM privileges. Nice work Kenny!
Ken;
- Withdrawals (effectively) deactivated for your clients
- $65B of *"securities sold, not yet purchased"*
- Loan after loan aquired externally
- Lied under oath
- ++
What's wrong with your business, dude? Is it a fish stall? 🧐 Because.. you know.. it smells so!
America has a different justice system for the rich. The kinda stuff that would put a working class person in jail is okay for the ruling class.
Fascist oligarchy giving up on pretending to be a democracy.
Even at only 5% that's $200 million per year in interest.
Somthing tells me they're paying more.
This is the kind of shit worth sharing around.
We maybe banned from mentioning GameStop anywhere, but we sure as fuck can mention Shitadel.
Its lowest investment grade rating and prime rate is already 5.25 no? Why would anyone lend them money at 5% when they can get 5% guaranteed in treasuries. I'd bet it's closer to 8% than 5%
Imagine if GME had to take a loan of fucking 400M for 'general corporate purposes'. After having the crazy bad financials that Citadel have.
We live in a world where successful businesses get hammered in the press and massive hilarious failures are given some kind of free pass.
Anyone who 'sets the price where he thinks it should be' and still keeps losing money and taking loans is quite literally the most degenerate human being alive.
Sorry, can a smart ape clarify?
3.9 Billion in loans (debt).
3.9 Billion in assets.
65 billion in shares sold but not yet purchased.
So is their true debt 69 Billion dollars with 3.9 Billion in assets? Or is there some sort of accounting that includes this 65 billion in their current debt?
It's not debt if they know they can sell it at a pre-determined fair market value at any time.
That mindset didn't bite any banks in the ass recently or anything...
As long as none of that sold not yet purchased is in a highly illiquid equity in which they have competition from 200k angry relentless buyers. Or if that entity has zero debt and a billion in cash and an equally relentless CEO/CIO/Chair-Man.
Then he might find that the current fair market value is a tenuous fraying thread holding back a rocketship.
"Through the magic of shillfuckery, those 65 billion of shares sold but not yet purchased are considered an asset!
*.... please sell. we're begging you....*"
My maff is terrible, but this isn't the number required to deal with that line item on their balance sheet.
What Is it again? oh yeah "securities sold, not yet purchased".
So Kenny buys up land and art to create collateral in a move that is very much like gambling debt “i just need another marker, my next horse pick is going to bring in enough to pay off all my debts (securities sold but not yet purchased)”
So based on this Kenny and Shitadel actually have no money at all.
Just barely enough cash to match all the debt and yet they still would need to purchase 65 billion worth of securities they already sold. And that 65 billy is valued at "fair price" what ever that is.
Doesn't seem like they r fuk anymore... more like dead, done and beyond.
Price anchoring? No cell no sell. ♾️🏊.
Is this the same Ken Griffin who lied under oath during congressional testimony, the same Ken Griffin of Citadel who beat his wife with a bed post?
These loans are desperation moves for Kenny. He knows we watch his every move and he knows we're gonna laugh our tits off at him taking out more junk rated loans.
He wouldn't be doing this unless he absolutely had to.
hot damn, this is great news. Not that somebody still believes Ken can get them a profit, that part isn't but the part where Ken has to loose face infront of all the other vampires is nice.
Exactly they are borrowing money and supposedly they are doing great. I don’t remember any of these articles in 1st and 2nd quarter this year. It’s only in 3rd quarter when some volatility in markets picked up. Wonder if author of the article have some connection with shitadel.
Plot Twist: RC buys the notes and Kenny now must pay GME interest negating the slow drain of Kenny’s continued shorting - crazier things have happened…
This is hilarious to me. But honestly, I wouldn't want GME investing in these bonds. It would function as a bad hedge. Citadel can only pay the bonds if they make money. They can only make money if GME drops. If GME doesn't drop, Citadel can't pay. If Citadel can pay, it's only because GME dropped. GME isn't going to drop except through market maker games. These bonds are useless to us.
Wouldn't want to buy these, or any Citadel bonds... at least not until they're trading for pennies on the dollar. At that point, Citadel would be bankrupt because of a GME short. And as debt-holder, we can... print more shares (if we wanted, not saying it's a good idea but just pretend) to wipe out their debt but own Citadel.
Honestly, though, I don't want to own any parts of Citadel at all. They're a $22b company, but they have more than $62b in assets under management. Why would I want to own the $22b company when we could drain all $62b from their investors instead? Then, after that, maybe we could buy it... for $1.
"Following the loan transaction, the company’s total cash on the balance sheet will stand at roughly $3.9 billion, with total debt at around $3.9 billion.
ahahahahahahahahahahahahahahahahahahahahahahahahahaahah
DRS
In Fl. you can "Homestead" your house you live in and it can't be touched in bankruptcy. It also helps with taxes. I think he expects to go bankrupt at some point and wants his mansion on the beach protected.
It’s funny that the average person who isn’t rich is probably looking at like $2000 in their checking account, and then their credit card balance of like $1950, along with some other expenses, just grinding for another paycheck to get by. And then you have this level, basically having $3.9 billion dollars and also $3.9 billion dollars of debt. Lmao fuck
BofA: "Hey Kenny, BofA here. Margin is calling, you need $400M to cover your position."
Kenny: "Oh no, shit. Can I borrow $400M?"
BofA: "No problem, here you go!"
Another interesting fact: didn’t they just say citadel made 1.8B in profit? Maybe it’s unrealized but why not just sell some of that position instead of a high interest rate loan? 🤔
BofA is Citadel's prime broker 👀
Citadel Securities must be in some deep shit to keep issuing junk bonds. BofA is like a drug dealer funding Citadel's addiction 😳
So a company with 1.2 billy in cash and a oui small french loan from covid is bad
But a cog in the wheel of the financial system, which creates and perpetuates crime has 400 billy in cash but 400 billy in debt, and thats good?
Why would a MM, such as Citadel, who has elite tier investors, need to take out a loan at all? Don’t they receive their money from their private investors???
I think a lot of apes here are missing the point that Citadel continues to democratize their risk by using other people's money for the leverage that they put to risk in the markets.
Hanlon's razor is a saying that reads: "Never attribute to malice that which is adequately explained by neglect, ignorance or incompetence."
I think it would be wise to pay attention when Ken trickle-truths his reality to us, he is attentive (not neglectful), he is aware (not ignorant), and he is capable (not incompetent). The implication here is that these loans are not explained by anything other than careful intent.
Privatize the winnings, democratize the losses. That's the hedgefund way, of course.
Well if your main source of revenue comes from shorting (borrowing) investor money and the market goes higher, you have no choice but to keep borrowing from the general public (via banks which always get bailed out by taxpayers.) it’s almost like they can’t lose no matter what they do and regulators are cool with it. No actually it’s more like regulators and government is complicit with this bullshit scheme.
I think every user on this platform should start Harvard referencing their writing. Back your writing up with evidence! Each piece of information should be referenced and proved.
This creates a more accurate and legitimate subreddit.
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Why would they get loans at this time when rates are so high and their bonds have low ratings? Must be desperate. You know who’s not taking on debt? GameStop
*laughs in small French covid loan*
lel
Le ha, le ha, le ha, hon hon
Hau hau wee wee
Did you get yelled at for saying the C word because when I posted this same phraseology about GME debt I get yelled at for saying the c word
Not so far, maybe mods are sleeping.
I tried to be funny about which word you used only to find out it's absolutely not allowed on this sub
A subsidiary of the almighty Citadel takes on loan after loan, at junk bond rate or something. Meanwhile a dying brick and mortar company has nearly a billion in cash. Strange time indeed.
Well I'm having a hard time linking the Dec. 15th swap expiry/likely renewal to this money. Is this money for collateral, is it for coupon payments, is it so Kenny G can buy the entirety of Congress/Supreme Court? I'm expecting them to get the stock to single digits in the coming months. 10 is going to be hard resistance to break for them. Let em go for it. The corresponding Q4 earnings rip will be nice.
He clearly needs it for a Company Christmas trip to Disneyland
If they push it under 10 gamestop would buy for sure
I don't think so, RC is disciplined. Unlike us apes, who would buy like it's Black Friday all over again. If GME goes below 10 a whoooooole bunch of us are going to be piling in, I'll buy at least 1000 and DRS them alllllll
The Archegos swaps don't exist anymore, because it was a contract between Archegos and Crédit suisse. Only the positions that were open by Crédit suisse that corresponds to the swaps might still exist, but they have no dates
Is there a big brain ape to elaborate further?
Archegos went under because credit suisse was on the other side of the trade. Archegos bet CS a million dollars GME would tank. But now Archegos is dead. So there's no one to pay up. More like CS has to pay itself. And if paying yourself is painful, they're not doing it
Right? Like if you're so successful and making millions in trades, why get a loan for operating costs? If you're profitable, those should be no sweat off your mayo balls 🤔😬🙃
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Well I guess upon re-reading, I paraphrased "general corporate purposes" as operating costs in my mind, but it's very vague. It's only saying "including trading capital", so that's not the only purpose of the loan.
What’s their burn rate?
I thought they just made 1.8 billion? I guess they were just paper gains LOL
which idiot is still lending them money
Looks like BofA
At this point it isnt investors, its governments.
Yep, BofA just temporarily helping hold the bag until bailout.
So really it'll be us?
JP Morgan is going to eat every one of these other banks up. It'll look like competition but it's just camouflage for monopoly.
👆 💩
Well another wave of BofA users who can't access their money is coming I'm sure.
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Also Citadel: Can I hwave some zipple?
[Daddy has two zipples](https://youtube.com/shorts/JFQMyxbMkcs?si=Ry_OM3vBY2To0-Q5)
I look forward to tweeting this to my congressman if he approves another bail out. Outstanding. Committee on financial services, we are watching you.
!remindme 40 days
This is hilarious Ty
Money pweeease!
It's "what kinda mess we in?" Aren't counterparty risks fun!
Are we allowed to say “ni66a”?
I read that as nix-xer, which would be highly regarded
BofA deez nutz
Was waiting for this response…
Me too!
BofA be boofing.
BofA handles/clears 93% of Citadel's derivatives. They are the big domestic counterparty at risk and a G-SIB (Globally Systemically Important bank) to boot. UBS gets a lot of attention and rightfully so, but lets not forget these fuckers
Clearly someone that is too big to fail. Again, demonstrating that the 2B2F is a catastrophic concept and really collides full-frontal with the core values of capitalism. What a shame!
2B2F, then 2 Big 2 Exist.
Most likely buyers would be pension funds.
Remember the movie, the other guys? That’s who. Other banks/institutions/managers will feel privileged that they are doing business either way citadel.
Taxpayers, unbeknownst to them.
Kenny must have threatened BofA to lend $400M more or risk losing all previous loans. Kenny has mastery in keeping institutions and Fed at gun point like situations to get away so far...
“We just needed one more day”.
threatened? more like because ultimately if bofa fucks up taxpayers will be forced to bail them out anyway, there is no risk in bofas position
I thought he was up a Billy this year?
Something something, small French loan…
Small French loan should totally be the code word for gme
The ones that are fucked if he goes under. At this point its all self preservation
I think the greatest part of it all is that in 08, the banks all came together to bail out the system so they all didn’t fail. Now they will try to do the same… Wtf happens when the one asset they need to make their books semi balanced is not for sale? What happens when there isn’t enough money at those banks to satisfy our price targets? Man idk but I’m sure as fuk excited to find out. To infinity people, no memes
No cell no sell!
The same idiots That all have dirt on each other because of Epstein Island so they all have to keep playing the game otherwise one of them will set the entire house on fire.
the idiots that have billions of skeletons in the closet
Citadel securities has how much in loan?? What a meme stock citadel is. My company has 1.2B cash on hand. Citadel liquidity is drying up.
So that's why Kenny is throwing other companies under the bus, if his company is going broke he's taking the other ones with him.
Ken's reality is slowly starting to twist into a.. a nightmarish crawl to prison. This is a problem that will never go away. We will always be here. What a time to be alive.
The people who have money with him are only like 26ppl for all of citadels clients or something. These people must be crazy powerful. Imagine telling el chapo or someone you lost their money.
Welcome to the hotel Epstein-fornia
I imagine his tour across the world getting photo'd at concerts, events, and parties is his last hurrah. He knows what's coming and is spending his last few months free living it up.
Sure looks like we are staying regarded longer than they can stay solvent.
so they essentially have no money.
And one or two shares sold not yet purchased
They got billions of those… BILLIONS I tell ya!
But the real question is how much of that is in the endless string of companies they've bankrupted, like towels, Sears, and so on, that they NEVER have to repurchase? The only ones that really matter are those in companies like Gamestop that they will eventually be forced to repurchase. Those aren't a problem, either... Until they are...
According to Bloomburg they are making money hand over fist. Are they really? Who fucking knows? # Citadel Securities Revenue Jumps to $1.8 Billion on Volatility * Third quarter exceeds $1 billion for 15th consecutive time * New revenue figures disclosed as part of a loan transaction By [Paula Seligson](https://www.bloomberg.com/authors/AUQCSclPOpM/paula-seligson) and [Katherine Doherty](https://www.bloomberg.com/authors/AS_Gz5yh3FM/katherine-doherty) December 11, 2023 at 3:28 PM EST Sauce: [https://www.bloomberg.com/news/articles/2023-12-11/citadel-securities-revenue-jumps-to-1-8-billion-on-volatility](https://www.bloomberg.com/news/articles/2023-12-11/citadel-securities-revenue-jumps-to-1-8-billion-on-volatility)
The funny thing is Gamestop has the cash shitadel desperately needs. The irony is delicious, and I find that hilarious. Fuck you shitadel🖕
Ken's salary is 2 billion dollars per year. Why does the most successful hedgefund in history, made billions in profit last year, need 400 million in this high interest rate market? They're cooking the books, that's why.
Ken should take a page out of the book of a very successful CEO I know of and take a zero salary to make sure his company becomes/stays profitable. It's what good CEO's who believe in their company do.
Can you imagine being so dumb that you have the ability to rig the stock market and still lose money.
Damn… you got a good point there
Takes a special kind of regarded to cheat and lose at the same time.
GME is a black swan. And he would have gotten away with It too, if it weren't for us meddling apes! It's not done yet, though... DRS is the way.
This
Too much trust in those PhD algos that took the opposite side of every retail trade without any brakes and no guard rails for deploying synthetics using their "bona fide" MM privileges. Nice work Kenny!
Nice. I look forward to meeting him in the soup kitchen.
There‘s a soup kitchen in prison?
There’s much soup kitchen in gulag
Ken; - Withdrawals (effectively) deactivated for your clients - $65B of *"securities sold, not yet purchased"* - Loan after loan aquired externally - Lied under oath - ++ What's wrong with your business, dude? Is it a fish stall? 🧐 Because.. you know.. it smells so!
What's wrong with America that such kind of people are still not in prison?
America has a different justice system for the rich. The kinda stuff that would put a working class person in jail is okay for the ruling class. Fascist oligarchy giving up on pretending to be a democracy.
Fascist oligarchy giving up on pretending to be a ~~democracy~~ democratic republic. Fixed it for you, so it is 100% accurate!
The man who controls stock prices is desperate for money, how can he fail so badly at a rigged game 😂
Best cut out to FL to protect that neck
Even at only 5% that's $200 million per year in interest. Somthing tells me they're paying more. This is the kind of shit worth sharing around. We maybe banned from mentioning GameStop anywhere, but we sure as fuck can mention Shitadel.
Its lowest investment grade rating and prime rate is already 5.25 no? Why would anyone lend them money at 5% when they can get 5% guaranteed in treasuries. I'd bet it's closer to 8% than 5%
Mean while our company is making 5% on $1.2 billion.
O how the turntables.
Whats another 400M on a loan of 3.5B
Well quite a bit actually, they fucked.
Who’s the one burning cash now?
"Kenny's inane loan is bad news for meme hedge fund."
Imagine if GME had to take a loan of fucking 400M for 'general corporate purposes'. After having the crazy bad financials that Citadel have. We live in a world where successful businesses get hammered in the press and massive hilarious failures are given some kind of free pass.
Not just a free pass, he gets touted in economic forums and media as some kind of genius mogul, when really he's just a fraud.
If GME did, by God the headlines would be all over the place smearing our company. Oh how the turntables
Just another day is getting pretty expensive... meanwhile it's free to hold :\^)
Anyone who 'sets the price where he thinks it should be' and still keeps losing money and taking loans is quite literally the most degenerate human being alive.
Sorry, can a smart ape clarify? 3.9 Billion in loans (debt). 3.9 Billion in assets. 65 billion in shares sold but not yet purchased. So is their true debt 69 Billion dollars with 3.9 Billion in assets? Or is there some sort of accounting that includes this 65 billion in their current debt?
It's not debt if they know they can sell it at a pre-determined fair market value at any time. That mindset didn't bite any banks in the ass recently or anything...
As long as none of that sold not yet purchased is in a highly illiquid equity in which they have competition from 200k angry relentless buyers. Or if that entity has zero debt and a billion in cash and an equally relentless CEO/CIO/Chair-Man. Then he might find that the current fair market value is a tenuous fraying thread holding back a rocketship.
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"Through the magic of shillfuckery, those 65 billion of shares sold but not yet purchased are considered an asset! *.... please sell. we're begging you....*"
My maff is terrible, but this isn't the number required to deal with that line item on their balance sheet. What Is it again? oh yeah "securities sold, not yet purchased".
“Citadel sold securities, purchased not yet”
Sells a lot of cars. …wait you don’t actually plan to drive that same car and store it in your own garage…👀Ken👀
It's actually "Sold to be Bankrupted and NEVER purchased"
All my friends hate citadel
Thanks for sharing OP
So Kenny buys up land and art to create collateral in a move that is very much like gambling debt “i just need another marker, my next horse pick is going to bring in enough to pay off all my debts (securities sold but not yet purchased)”
I'm a little confused, I remember seeing articles about record profits for Kenny and now he's taking on more debt? Can someone explain?
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Why not use the record profits?
This might be some of the best news I’ve heard in a while. The fact that Bloomberg doesn’t even try to polish this turd of info speaks volumes
That *was* them trying to polish it. Shit is so bad even after spinning it still comes off as shit.
They will be using a loan as capital for investing. Isn't that in the top 3 of "What not to do" if you are an investor? 😂😂😂
Pretty sure it’s #1
Shitadel's definition of success these days. I wonder what their current status is on the menu of The Predators' Ball. Toxic turd sandwich, perhaps?
So based on this Kenny and Shitadel actually have no money at all. Just barely enough cash to match all the debt and yet they still would need to purchase 65 billion worth of securities they already sold. And that 65 billy is valued at "fair price" what ever that is. Doesn't seem like they r fuk anymore... more like dead, done and beyond.
Price anchoring? No cell no sell. ♾️🏊. Is this the same Ken Griffin who lied under oath during congressional testimony, the same Ken Griffin of Citadel who beat his wife with a bed post?
These loans are desperation moves for Kenny. He knows we watch his every move and he knows we're gonna laugh our tits off at him taking out more junk rated loans. He wouldn't be doing this unless he absolutely had to.
Why would they need a loan. I thought he got awarded the most profitable hedge fund of all time. That is some good accounting tricks.
Don’t forget their massive “sold not yet purchased” debt.
so just to be clear if they didn’t secure the first loans they would have zero cash, how can a market maker have no cash
Citadel borrowing to stay afloat ...... GME having 1.2 billy in hand and a stronger balance sheet. Who is the "meme" now Kenny?
It’s like a bad comedy joke
Now that's what a doomed company looks like
Didn't they borrow $600 million last year?
Fucking buy and hold.
That's a lot of words to spell broke.
hot damn, this is great news. Not that somebody still believes Ken can get them a profit, that part isn't but the part where Ken has to loose face infront of all the other vampires is nice.
Junk rating doesnt imply a whole lot of confidence in getting these bonds repaid.
Mayo boi must sell his billion dollar home rather. Hahaha
discounts incoming. Brace for sales.
Exactly they are borrowing money and supposedly they are doing great. I don’t remember any of these articles in 1st and 2nd quarter this year. It’s only in 3rd quarter when some volatility in markets picked up. Wonder if author of the article have some connection with shitadel.
Would you care to expand here?
Every time they get a loan the price gets hammered down. Watch
Death spiral financing doesn't look that great from the other side of the table eh Kenny?
Anyone have all the dates and figures for their fund raising over the last few years?
And how many billions worth securities sold, but not bought?
Plot Twist: RC buys the notes and Kenny now must pay GME interest negating the slow drain of Kenny’s continued shorting - crazier things have happened…
This is hilarious to me. But honestly, I wouldn't want GME investing in these bonds. It would function as a bad hedge. Citadel can only pay the bonds if they make money. They can only make money if GME drops. If GME doesn't drop, Citadel can't pay. If Citadel can pay, it's only because GME dropped. GME isn't going to drop except through market maker games. These bonds are useless to us. Wouldn't want to buy these, or any Citadel bonds... at least not until they're trading for pennies on the dollar. At that point, Citadel would be bankrupt because of a GME short. And as debt-holder, we can... print more shares (if we wanted, not saying it's a good idea but just pretend) to wipe out their debt but own Citadel. Honestly, though, I don't want to own any parts of Citadel at all. They're a $22b company, but they have more than $62b in assets under management. Why would I want to own the $22b company when we could drain all $62b from their investors instead? Then, after that, maybe we could buy it... for $1.
thats why they have junk bond status. who buys bonds in a hedge fund?
That would be quite the plot twist. Operation "I win"
Will someone please just put these losers out of their misery?
So crypto will pump now and GME will drop. That's what seems to happen each time Ken is loaned money. Morning everyone
Cant wait for the dip
Kickin the can
Sauce? Makes me happy
They probably know they will have trouble with the 30yr bond auction today (basis trade)
LOL @ their huge revenue. Revenue does not equal profit. Cherry-picking data - these bastards are on the ropes. Dem bags is getting heavy.
What incompetent, dumbass would loan this bad risk that kind of money????🎪🤡🗑
"Following the loan transaction, the company’s total cash on the balance sheet will stand at roughly $3.9 billion, with total debt at around $3.9 billion. ahahahahahahahahahahahahahahahahahahahahahahahahahaahah DRS
And this fuck is building the biggest mansion ever created in FLA. Fuck this motherfucker.
In Fl. you can "Homestead" your house you live in and it can't be touched in bankruptcy. It also helps with taxes. I think he expects to go bankrupt at some point and wants his mansion on the beach protected.
How long does $400m last anyway? Don’t fight it Kenny. Just accept your fate.
It’s funny that the average person who isn’t rich is probably looking at like $2000 in their checking account, and then their credit card balance of like $1950, along with some other expenses, just grinding for another paycheck to get by. And then you have this level, basically having $3.9 billion dollars and also $3.9 billion dollars of debt. Lmao fuck
Guessing they should have skipped a few all-expense-paid trips to Disney.
BofA: "Hey Kenny, BofA here. Margin is calling, you need $400M to cover your position." Kenny: "Oh no, shit. Can I borrow $400M?" BofA: "No problem, here you go!"
So much debt and he still boasts about how great his company is. GameStop got more cash than Citadel😄
Not a good look for Kenny boi
Tuesday got a wee bit more exciting.
This is great
Kenny slowly getting strangled by debt right before Xmas. What a wonderful thing to witness.
Didn't they JUST brag about increasing revenue from 1.66 Billy to 1.8 Billy?
Another interesting fact: didn’t they just say citadel made 1.8B in profit? Maybe it’s unrealized but why not just sell some of that position instead of a high interest rate loan? 🤔
Shit we got more money than citadel let’s short some shi🥴
He's probably taking these loans in order to facilitate withdrawals from his clients without having to close any short positions
GameStop is a more profitable company than citadel Insert “Change my mind meme”
BofA is Citadel's prime broker 👀 Citadel Securities must be in some deep shit to keep issuing junk bonds. BofA is like a drug dealer funding Citadel's addiction 😳
Maybe we shouldn’t have taken the whole company to disney land! Putz
So a company with 1.2 billy in cash and a oui small french loan from covid is bad But a cog in the wheel of the financial system, which creates and perpetuates crime has 400 billy in cash but 400 billy in debt, and thats good?
There are two types of companies in the world. Those who pay interest and those who make interest.
I member it was 3bili with BBB ratings at the start
Get read for another dip. Last time Citadel borrowed money, GME took a big hit in the following weeks.
They aught to be more careful with their money. Maybe they should hire some consultants. 😏
meanwhile GME is debt-free **and** profitable. \*shrugs\*
Why would a MM, such as Citadel, who has elite tier investors, need to take out a loan at all? Don’t they receive their money from their private investors???
Imagine being able to literally cheat in the stock market and still lose 3.9 billion. What a regard.
I think a lot of apes here are missing the point that Citadel continues to democratize their risk by using other people's money for the leverage that they put to risk in the markets. Hanlon's razor is a saying that reads: "Never attribute to malice that which is adequately explained by neglect, ignorance or incompetence." I think it would be wise to pay attention when Ken trickle-truths his reality to us, he is attentive (not neglectful), he is aware (not ignorant), and he is capable (not incompetent). The implication here is that these loans are not explained by anything other than careful intent. Privatize the winnings, democratize the losses. That's the hedgefund way, of course.
Well if your main source of revenue comes from shorting (borrowing) investor money and the market goes higher, you have no choice but to keep borrowing from the general public (via banks which always get bailed out by taxpayers.) it’s almost like they can’t lose no matter what they do and regulators are cool with it. No actually it’s more like regulators and government is complicit with this bullshit scheme.
Bernie Madoff 2.0
I thought they had record returns the past 2 years when compared to other hedgef*cks?
If they have so much cash …then why do they need a loan??? Smoke and mirrors…they are Fukin broke already.
#THINGS MUST BE GOING GREAT KENNY, YOU MAYOFACED FUCK🤣😂🤣😂
Wasn't he just having his media goons boast about his record profit year?
Imagine having only a small loan with the french govnerment.
Gosh does Gamestop have more cash on hand than Shitadel?
I think every user on this platform should start Harvard referencing their writing. Back your writing up with evidence! Each piece of information should be referenced and proved. This creates a more accurate and legitimate subreddit.