by Fletch » Tue Feb 06, 2018 9:52 pm
XIV Trader Loses $4 Million And 3 Years Of Work Overnight: Here Is His StoryThe devastating 90% overnight collapse in the now "terminated" XIV Exchange Traded Note (ETN) has had many casualties - from one hedge fund down as much as 65%, to Morgan Stanley's (formerly) $39 million position, to Reddit user /u/Lilkanna who posted "Ive lost 4million USD, 3 years worth of work, and other people's money" in the "TradeXIV" subreddit.
"1.5 mill was capital I raised from investors who believed in me," Lilkanna wrote. "I had a leveraged position I used DTBP to buy and it was down like 1% and I thought I could hold it knowing that I would get a reg-t call deadline in 2 days."
The amount of money I was making was ludicrous, could take out my folks and even extended family to nice dinners and stuff,” he wrote. “Was planning to get a nice apartment and car or take my parents on a holiday, but now that’s all gone.”
"Sad thing is I was long VIX until a couple of days ago. I was sure there was gonna be a correction but with each passing day my conviction wavered. Stupid. Really fu**ing stupid. I feel like such a fool."
Google.com/2018-02- ... -his-storyOh dear. of course, it could all be fake and XIV didn't drop, that Morgan Stanley are lying and this chap made a fake screenshot of his accounts...
[b]XIV Trader Loses $4 Million And 3 Years Of Work Overnight: Here Is His Story[/b]
The devastating 90% overnight collapse in the now "terminated" XIV Exchange Traded Note (ETN) has had many casualties - from one hedge fund down as much as 65%, to Morgan Stanley's (formerly) $39 million position, to Reddit user /u/Lilkanna who posted "Ive lost 4million USD, 3 years worth of work, and other people's money" in the "TradeXIV" subreddit.
"1.5 mill was capital I raised from investors who believed in me," Lilkanna wrote. "I had a leveraged position I used DTBP to buy and it was down like 1% and I thought I could hold it knowing that I would get a reg-t call deadline in 2 days."
[img]https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/close.PNG?itok=dPyrHiGa[/img]
The amount of money I was making was ludicrous, could take out my folks and even extended family to nice dinners and stuff,” he wrote. “Was planning to get a nice apartment and car or take my parents on a holiday, but now that’s all gone.”
"Sad thing is I was long VIX until a couple of days ago. I was sure there was gonna be a correction but with each passing day my conviction wavered. Stupid. Really fu**ing stupid. I feel like such a fool."
Google.com/2018-02-06/xiv-trader-loses-4-million-and-3-years-work-here-his-story
Oh dear. of course, it could all be fake and XIV didn't drop, that Morgan Stanley are lying and this chap made a fake screenshot of his accounts...