T O P
MaximumSandwich5

Am I proud that I outperformed 3AC? Yes, yes I am! -90% > -100%


tamaleA19

You should manage funds professionally


EchoCollection

Sounds like the secret to being a good hedge fund manager is to just not use leverage.


Grim--Reaper-

Your funds are safu if you don't use leverage


WilliamBott

Only fucking gamblers and crazies use leverage on CRYPTO, of all things...


user260421

Interesting, might want to write a blog post about it later to inform the fellow hedge fund managers


tranceology3

And call it 4AC


Theweebsgod

3AC getting outperformed by us from r/cc.Lmao we're really living in a crazy timeline.


kingofthejaffacakes

I know you're joking, but there is wisdom here. The only multiplier that can't be inverted is x0. Losing everything leaves you with no way back. Losing 90% can be recovered from with a x10


deathbyfish13

>-90% > -100% Everyone laughed when I said I was down 90%, well who's laughing now lol


sq018

I feel better now thanks


Aggressive-Sort-3062

Same


partymsl

For your kind information you even outperformed the Master of Stablecoins, Do Kwon, himself.


ComfortableEagle5019

Very funny. Sometimes laughing at your own misery makes it more tolerable. I lost like 60% of my crypto investments and I decided not to buy more


unbuottawa

You are alive (I assume you didn’t put everything you own in crypto), 3AC is about to die. Indeed you are a smarter investor. No need to for a joke.


[deleted]

10 USDC is nothing to sneeze at. I can 1 gallon of gas ⛽️ with that much money.


Harold838383

Funny how the most arrogant people have been getting fucked the hardest lately


meeleen223

Arrogant people overestimate their abilities and believe they can control things that are out of their control, not surprising they are getting fucked hard


Crypto_Gaming_

Newton 3rd law: if you fuck market, market will fuck you back


Ahjustsea

Then you are fucked forever - Newton's 1st law.


I_SUCK__AMA

A market that is fucked will remain fucked until conditons change. 2nd law.


satankaputtttmachen

This guy physics.


StealthFocus

Even Newton got fucked by South Sea Bubble, after losing millions he said: I can calculate the motion of heavenly bodies, but not the madness of people.


andyhill420

Ha, I never knew that thanks!


madmancryptokilla

And the market doesn't use lube....


partymsl

So you basically get double sex while you just paid for one? I will take that.


MrNuttyJoe

And they surround themselves by Yes Men as well!


alexucf

"fooled by randomness"


ImnotasuglyasIlook

It could be the Dunning Kruger effect lol. In psychology it's a cognitive bias where people with limited knowledge or competence in a given intellectual or social domain greatly overestimate their own knowledge or competence in that domain relative to objective criteria or to the performance of their peers in general. My own translation has always basically been that some people lack the necessary knowledge in a subject to recognize their own lack of knowledge and/or competence lol. So because they lack the necessary knowledge to properly evaluate themselves, they overestimate their own abilities. Especially if someone seems to be doing amazingly well in a bull market, by overleveraging and borrowing like crazy, it's easy to see how they'd get full of themselves by taking crazy risks, then look down on people that aren't so willing to take those same risks, because they know bull markets always end eventually (the other people). These guys honestly thought the bull market would just keep going, they even had their "supercycle thesis", in which continually larger adoption by the public would keep the bull market going for years, and predicted BTC would reach 2.5m before it ended. Isn't there another saying about how everyone is a genius in a bull market? Zhu Su thought they were a genius and others that didn't take the same stupid risks was beneath them. I just hope them failing doesn't harm too much else in the crypto ecosystem. It sounds like they borrowed money from all sorts of different companies.


JuiceColdman

Yeah well in America people are rewarded for being assholes. They’ve been able to behave this way with zero consequences up until this point


cryotosensei

Fucked-up pride comes before a fucking fall


Fringie

TIL I'm arrogant :(


lancingtrumen

You underestimate my power!


rickkkkky

I'm not entirely convinced that the arrogant people you seem to refer to were the ones *actually* being fucked over - let alone hardest - but the investors whose assets these people managed.


godofLEAPS

This. It's not really the arrogant vocal people. They often have a back-up plan and make money no matter what. It's the sheeple that are unable to think for themselves critically and blindly follow the arrogant that get fucked the hardest.


ajacobs3232

Yeah , i mean he fucked many people before getting fucked .


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[deleted]

Buffett is an asshole too but he knows to shut his mouth when needed and he also knows what he is talking about. All those 20 something crypto billionaires know shit they are in for a rude awakening. I have been trading for 30+ years and it blows my mind that these crypto hedge fund 'managers' became billionaires with the most basic trading strategies that everyone knows will fail in a bear market yet they were lucky to ride a 10 year bull market and convinced themselves they are geniuses


Feniksrises

They became billionaires when the global economy was booming. They can't do shit in a recession.


idevcg

why don't you try to become a billionaire when the global economy is booming? You make it sound so trivial


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ncsubowen

I mean, I wouldn't either. If 1 person owned all bitcoins they would be useless...


Kalium606

He's just old school


DBRiMatt

Humble people are getting fucked hard too. They just wern't vocal about how well they were doing in the first place.


Tatakae69

Karma works in wonderful ways.


tamaleA19

This is not the kind of fucking I usually come to the internet to see. But it is entertaining


Dmoan

Lot of non arrogant people have their portfolios blown up as well it’s just that they don’t make the headlines unless it is something as big as Bill Hwang (who was supposed to be pretty humble).


mzn001

After seeing Do Kwon and Zhu Su, I kinda feel Michael Saylor is not that arrogant anymore 😂


Tadejus89

Something about not putting all your eggs in one basket and then shilling just that. That saylor guy is an idiot now.


bukharin88

Kwon and Su are assholes, Saylor is just delusional.


BenL90

Do Kwon is most asshole than anyone in the crypto market ever.


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Lord-Nagafen

Everyone is a genius in a bull market. It takes these pullbacks to reveal who has a balanced portfolio


bag_of_oatmeal

No, it's still poor people somehow.


deathtolucky

*Kanye West has entered the chat*


StealthFocus

Kanye West has levitated into the chat. FIFY


Odlavso

Another smug millionaire/billionaire gets put in his place by the market. . Everybody is a genius during a bull market


MaximumSandwich5

I don't understand the need to use leverage if you're a hedge fund with billions of dollars. Longing such volatile assets with leverage is so crazy to me. Why not just stick to spot?


practiceperfect111

5x returns yo


Dmoan

Exactly people get arrogant and want to show they can beat the market.


Crypto_Gaming_

Everyone is a genius in bull market but bear market shows them their place


Civil-Attempt-3602

Just reverse it. Duuuh


bittabet

That’s how they got to become billionaires, they levered to the tits and gambled and in a raging bull market it worked spectacularly well which lead more people to give them money to invest. Just didn’t ever learn or know when to deleverage and protect their capital. Kind of crazy though, this dude was a billionaire and now he might be worth nothing. Hopefully he’s not so much of a dumbass that he didn’t diversify at all.


erjkbomm

Im sure he still has millions of his own held privately, just like Do Kwon


khaste

He definitely wont be a billionaire anymore but even if hes lost it al in crypto im sure hes got at least a million parked in some tax free haven island. These fucks ( unfortunately) never seem to go fully broke. They always bounce back.


UnintelligibleThing

Yup I believe some of his money is right here in Singapore (he just obtained citizenship).


gregor7777

Greed


Pezzonovante__

They would still have 8-11bn if they closed those longs. That’s too funny and it’ll happen again.


partymsl

It's more of a greed to not take profits.


Crypto_Gaming_

One of the seven sins greed can be very harmful


Emergency-Pound-2119

They tried to make up for their huge loses after the Luna disaster. Massive exposure. This was the first domino that fell and fucked many established players in the crypto industry really hard. The only degen thing they could come up with is leverage trading to make up for it. Bad call. Do Kwon has taken an entire industry with him into oblivion..


DizzyMammoth21

Dem gainz doe.


otherwisemilk

Seriously. I don't understand why people don't just retire after $5 Million. Like, caviar and pedicures can't be that expencive.


JoeSicko

That's a grand a week, for 100 years.


kulayeb

It's 5 grand a week if you are gaining a 5% interest on that 5 mil


ShAd0wS

You can retire on 5M, but you are going to be living a lot closer to upper middle class than rich - especially if a downturn like the current one hits you early during retirement. Somewhere in the 10-20M range is probably 'retire with reasonable expectations of luxury for the rest of your life' range. If you are blowing money like some professional athletes / actors / whatever do, no amount is enough.


yondercode

For them it's just like a game to reach a high score, although not cashing out is just dumb lol


Elderberry-smells

It's also upsetting they even call themselves a hedge fund. What are they hedging their bets with? It's all leverage, this isn't a hedge.


or_null_is_null

He's hedging his bets against his own future lol


Alpha3K

This had me laughing


OhSunnyDayXY

Leverage is the whole point lol that's capitalism 101. If you have a lot of money available you can make exponential amounts of more extra money out of nothing than if you had less money in the first place. Do you think his Lambo clients would come to him if they'd get the same return on their fucking savings account? 😂


oiducwa

Because the money is not his. I would yolo someone’s money too because either way I have my bottomline drawn.


BakedPotato840

There are few things more satisfying than seeing a smug millionaire/billionaire getting put in his place.


HelpMeSucceedPlz

Have you seen the now broke "I have no time for poor people" Do Kwon from terra/luna/ust?


meeleen223

He is prime example of arrogance getting taste of humble medicine, But what he truly deserves is a long prison time


HelpMeSucceedPlz

Yes, I made a blog about him/against him. But I doubt I am allowed to post a link on here. And I haven't even lost any money to him. Best I can tell, he is in a world of hurt civilly and criminally. Especially since the US SEC subpoenaed him. You may not be a huge fan of the SEC but it's almost always a good day when they take an interest in one of your enemies.


SlimPerceptions

Where can I find that?


throwaway_clone

Calling everything he don't like to hear FUD... FUD = Facts U Dislike


khaste

Unfortunately theres evidence of him cashing out way before the crash so hes probably sitting happy with his millions somewhere


Cpyrto80

"humble medicine"? Thats new


MonsieurReynard

"Now broke."


ToastNoodles

[Link to tweet for anyone curious](https://twitter.com/stablekwon/status/1410491186196795398)


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Inthewirelain

kwon deffo isnt broke, its the luna and ust holders who lost out


BABYSWITHRABYS

Not sure he’s as broke as we wish he was. Appearing broke to stop people turning up to your house to murder you is what anyone would do in his situation.


partymsl

That was the greatest downfall ever.


Standard_Ad_880

He is an actual real world criminal and scam artist, and the luna idiots still buy into his equally and just as flawed new token.


pmbuttsonly

> *His size is no longer size*


BakedPotato840

His weight is no longer weight


asadhonda

Chances are, that’s not his money.


Tatakae69

Bear market really does put everyone where they belong. This is why they say to never fight the market ; which most so-called "whales" arrogantly think they can do so freely.


surrender_the_juice

Bear markets are great at humbling people. Unfortunately, I don’t think people like this learn their lesson.


RedOctobrrr

Cue Gabe: closing up shop, hope to see you all soon in our new fund, the Go-Long Fund! Like seriously, you can't make this shit up. Hedge fund manager recklessly bets away investors' funds, blows the fuck up, says they're going to essentially delete the app and reinstall, thinking others will give him money again for a new fund that is dedicated to going long at the start of a major market crash? Dumbest fucking money I've ever seen.


Crypto_Gaming_

And worst part it they get the funding again and fucks up innocent people once more


HelpMeSucceedPlz

Yeah, they usually only learn their lesson when broke. By broke, I mean broken, by an angry investor who they turned their life savings into "dust".


biddilybong

That’s why bear markets, recessions etc. are necessary in a capitalist society.


newbonsite

LUNA collapsing sure did pave a way for this shit storm of events lately lol...


aliensmadeus

seems like arrogance is another red-flag, noted for next time


Crypto_Gaming_

*Jake Paul enters the chat*


aliensmadeus

*auto-spawn*


kirtash93

He just got three arrows in his knee.


DeeDee_GigaDooDoo

"I used to be a crypto trader like you, then I took three arrows in the knee"


deathbyfish13

"Hey you, you're finally awake..."


DoctorMario1000

Sweet sweet Skyrim memes


newbonsite

He shooting his last arrows now looking for an asset bail-out LOL ...


Theweebsgod

***And he shot it himself***


oshinbruce

Imagine going from lambos to looking behind the sofa to find spare charge. Still dont most fund managers look after themselves first? I wouldnt be surpised if he is fine (until the authorities come) and its just a concise liquidation.


crypman

he is most definitely fine. he owns a $49mil house he bought a little while ago.


jocq

Bought near the housing peak and now he owes property taxes on a $50m property? Not definitely fine.


asreagy

You know he can sell it, right? Definitely fine, better than 99.9% of the planet.


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uncleemperor

He bought a Good Class Bungalow (GCB) in Singapore. A very exclusive type of house that only Singapore citizens and some permanent residents can buy. Basically a trophy for the top 1% in Singapore and are very limited in supply. A GCB holds its value very very well, even during times like covid. He bought the house under his 3 yo son's trust. I don't know whether he is able to sell under the context of this.


troublesome58

And property taxes in Singapore are cheap


Zoenboen

No chance, the market is still hot, not sure why that’s even the suggestion. My home value went up $15k in two weeks, not really a huge change overall either. If he just made the payments he’s fine. And this is probably the problem. The assumption that real estate is declining in price (though inflation caused the exact opposite) and the inability to consider anything other than crypto is killing most people I notice. Look at the thread, everyone’s excited about their losses and the question is how you’d lose this so quickly - well, take profit or at least reinvest that profit elsewhere. Most you have the same goal, more fiat, stop pretending you only have one way to get there.


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LightninHooker

I am so happy I never knew who any of these fuckers to begin with. No crypto in my socials networks.


BenTG

This is the way.


pyritejet

Everyone a genius till they get punched in the face by the bear market -BTC Tyson


365Dillweed365

Schadenfreude is real.


Wise-Grapefruit-1443

Leave it to the Germans to have a word in their language that describes getting pleasure from the pain of others


Vegas_42

Maybe another german word describes the feeling when you are broke. >Weltschmerz *a feeling of melancholy and world-weariness*


CatatonicMan

My favorite German word, which also probably applies to these smug assholes: *Backpfeifengesicht* \- someone who's face makes you want to slap them so hard that their ears ring.


SnooTangerines4321

Ooh, I've got one. Fremschamen. The secondhand embarrassment you might feel for some of these clowns


Vegas_42

Actually, it's spelled Fremdschämen. An ä could be written as ae. Fremdschaemen is correct as well though. The ä is pronounced like the a in "dad". *Fremdschämen* describes the feeling watching the office.


Livid_Yam

Schadenfreude *enjoyment obtained from the troubles of others*


Laty69

*ich liebe deutsh*


TheCaspica

Oui oui.


hawkwind361

Indeed, question is which smug motherfucker is next...


split41

Everyone is dancing on the crypto crash right now


CutFabulous1178

Unpopular Opinion: Recessions are an essential part of Boom and Bust cycles as it rewards Good and sustainable behaviors. Unfortunately Govt Bailouts has since privatize gains while socializing losses. Crypto having no bailouts will get better as the bad actors are driven out...heres hoping :/


lomosaur

> 100k eth is dust fwiw, more coming *Dust in the wind* *All we are is dust in the wind…*


Tatakae69

Another day, another Do Kwon


Wise-Grapefruit-1443

The great crypto cleansing of 2022


polynomials

This is weird for me because I personally know Su and Kyle (3AC founders), I went to HS and college with them. Like I have cute pictures of Kyle's little daughters on my phone. You never think some nerdy guys you are eating with in the cafeteria at 15 years old are gonna blow up a hedge fund at the center of an asset bubble 20 years later.


Dwaas_Bjaas

This is why I fucking love bear markets. Overinvested arrogant POS get fucking REKT Well see them return next bull run


Ferdo306

Looks like most of these funds skipped risk management 101


SteveWundRBaum

Dear Zhu Su, you can convert dust to BNB on Binance. Just sayin'. /S


CommunicationOwn322

One day cock of the walk, the next a feather duster.


Lurker-of-subs

I used to be a billionaire like you, then I took three arrows to the knee.


Canleestewbrick

I think if you remove arrogance from the crypto market, there might not be anything left...


Liquid_heat

If only this same thing happened to large corps in the USA. Whereas they think they are too big to fail and finally do, then no one there to bail them out.


Either-Advantage

Reminds me of a certain man who may or may not be being investigated for a certain stablecoin de-pegging. A certain South Korean individual who I won't be mentioning by name. With that being said, I always follow the humble. Vitalik, Sandeep and Jaynti Kanani. The Humble will lead you to greatness.


rukiahayashi

As an Asian, bill hwang, do kwon and this mofo do little to help the stereotype that we are all gambling addicts


HILLARYPROLAPSEDANUS

Better that than the small pee pee stereotype tbh


KlopKlop10293

But Would you rather have your money managed by a tiny peepee or by a Chad degen gambler?


DudeGotRekt

Same thing happened in 2007-2008. Hot shot Quants from Ivy League schools and dipshits on Wall Street teamed up to create a fake safe yield from Mortgage backed securities consisting of sub prime dog shit arrogantly claiming they were virtually risk free. Anything Wall Street touches turns to shit.


masterjolly

Those scumbags and the 2008 global recession were what lead to Satoshi creating BTC in the first place.


polizeros

Wall Street axiom: 'Bulls make money, bears make money, pigs get slaughtered."


PrinceZero1994

A lot of money will really bring out the worst to people. Frankly, I'm not sure ho I'd be if I had tons of money too. I hope I stay humble.


Diane-Choksondik

I don't understand how they could not see this coming, or at least prepare against the possibility, but I guess I was reading superstonk and have been in full "the end is nigh" mode for over a year :D


jakejohan

don’t kid yourself people, although their careers are irreparably damaged, zhu and kyle both have millions


Kapselimaito

*Elon Musk has entered the chat*


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DietOk3559

I'd say arrogance has a very important place in markets


grchina

It's not like any of that money was his, only clients got rekt


IDontLikeUsernamez

Su and Kyle were the biggest investors in the fund https://www.wsj.com/articles/battered-crypto-hedge-fund-three-arrows-capital-considers-asset-sales-bailout-11655469932


AUniqueSnowflake1234

Bulls make money, bears make money, pigs get slaughtered


LeTraderrr

Was ein opfer🤡


NorthNode22

Crypto Karma


kebuenowilly

I thought I was reading r/buttcoin


n012blame99

3 arrows or 3ls. Liquor,ladies,leverage!


n012blame99

3 arrows or 3ls. Liquor,ladies,leverage!


domaskuda

You just called my net worth an actual dust :'(


xSciFix

All these people who shittalk Eth to try and shill their own shit instead end up just being BitConnect clones.


isaidbitchhhhhhhh

Never liked his smug face anyways


Routine-Moment-7845

DLT is a great technology — but in that arena Bitcoin is obsolete — too slow and too much of an energy hog!


Seddy01

I think this is a joke. $10? Ten?


Ok-Upstairs6591

That’s why I’m SAFEMOON


lvl1vagabond

This is beyond humbling it is proof that they had no clue what they were doing in the first place.


scvfire

He was just being honest. His 100k eth is now dust.


lordchickenburger

i hope every single one of these arrogant pricks gets jailed and never see the light of day so they dont ruin anymore lives


thoon62

How can an investment "implode" if I don't leverage and just buy? I feel like these crypto failure stories are really leverage failure stories. Don't leverage crypto like it's traditional finance.


overworkedpnw

God I hope it hits him hard in the wallet, love seeing cryptobros squirm.


BustaNutShot

I'd really like to know exactly what went wrong for them.


StraightOuttaC-137

From 20BN to 20BNB


nugymmer

You see the same phenomenon with doctors where when a patient tells them something is wrong but they dismiss it, only for the patient to sue the fuck out of them and destroy their career in one fell swoop. Arrogance never pays. And if it does, then it is by pure luck.


de_la_au_toir

Him and Do Kwon were two of the most arrogant, rude and egotistic people in the twitter space. Talking down on people, thinking they know better than other people. In the end they got what they deserved.


Tomos1977

Do Kwon, Zhu, Pentoshi…all these guys are clowns and always have been 🤡


joshg8

Pentoshi is a memer with macro takes and TA posts, not sure how he fits in with people running funds and projects. Unless I’ve missed something.


ryncewynd

Yeah he seems reasonably sensible and I don't think he's playing with other people's money or creating a crypto/token? I quite like his posts


jetro30087

Oh yeah AAVE, DEFI lending, they don't seem to be having problems.


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bungle123

Most big names in crypto are jerk offs, not just the Asians


ICURaBigdeal

Naw c’mon. No one people group has a monopoly on “arrogance”..


Spinedaddy

Don’t be racist. It’s not just Asians.


NorthNode22

Last time I checked, Mashinsky not Asian...


Novel-Counter-8093

and when has Mashinsky ever publicly and proudly said anything so absurdly rude and arrogant like Zhu Su, Justin Sun, and Do Kwon? at least CZ doesnt talk big shit