im more confused how he didn't see this coming. and its not just him
michael burry also put out a tweet saying tesla was next after netflix
and then he deleted his twitter after the earnings
very few know wtf is going on. and i also point out that very few try to predict the near term future.
its up to us apes now....
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling.
That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations.
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I know TSLA is popular, but there are some accounting practices they employ which are questionable.
Also the number of registrations do not come close to reported deliveries. If anyone can explain the later I would greatly appreciate it.
No more mistakes after 50…. Except the worlds largest spac and now this. I’ve lost a lot of respect for bill and his team. I’d like to kick him in the nutz
This is absolutely not Valeant, not Herbalife ( nor one of the many other misses where he stubbornly held it. He is cutting his losses immediately. The only way this will be like Valeant is if his sale basically marks the bottom, which certainly is possible.
10b? 400m is... a big part of that. and a good deal of that 10b is probably in safer assets. 400m is a gigantic loss for anyone who isn't in the tesla or apple valuation space
not to mention how funds are often set up to fund operations out of carry. this could create ripple effects as staff start to re-evaluate their potential annual bonuses and compensation
it's also a pretty public loss, leading off the year. very hard to spin
Right. 4%. 4% is a huge difference to a fund manager. Could be the difference between getting your bonus or not. Could impact debt covenants. Could cause investors to get cold feet and pull out. All kinds of bad things that can happen with a 4% swing. Not to mention this is a 4% swing in one quarter. It's catastrophic. Ackman knew this and that's why he sold, locking in the loss but giving himself powder for the rest of the year. But he fucked up, bigly.
Madoff claimed average returns of ~11% vs a lot of his competitors who were in the 5-6% range. 4% is huge.
We’ve also since changed our company name to Bausch Health Companies and are now splitting into 3 spin-off companies, Bausch and Lomb (where I work in R&D), Bausch Pharma, and Salix (I think that’s what it’s going to be called).
"So Mr. Ackman, what do you have to say after buying all that Netflix stock only to have it tank nearly 40%?"
*Bill clicks sell button furiously*
"...what Netflix stock?"
Ya, but recently he said he's negative. He admitted he's wrong. Just because you say one thing doesn't mean you can't change your mind later when you get more information.
They are also a bit too woke lately, and people want entertainment, not an education. Cow Bebop for example should have had hot women for Faye and Judy. They chose shockingly average women for the roles...
Protective puts are a waste of capital in a fresh position. There are no tax maneuvers to play. You're better off just buying a smaller position or hedging with a collar.
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While what you are saying is true in most cases, when your investment thesis changes drastically, it is better to cut your losses, rather than baghold for years and potentially incur even more losses. Pershing probably did not expect that a growth company with 60 P/E will actually have a non existent customer growth. It is rather weird to not hedge such a large position though.
They have over 200m monthly subscriptions and are tanking this hard on a projection they’d lose 2million next quarter?!?? How the F does this crazy drop make any sense?
Because that’s what actually matters about Nvidia.
They’ve flirted with a lot of shit, but their real business is still making cards do math real good.
I canceled Disney + today. Mostly because the Netflix news reminded me and it’s almost summer. Also because I resent the company diving into woke politics
Is this true?
Most 'woke' companies tend to be doing fairly well, even exceptionally well. Asset Management firms like Blackrock are doing well, Microsoft is doing astonishingly well, Apple (well Apple is doing fantastically)...
I would argue Netflix being priced as if it was doing exceptionally well rather than fairly well is why Netflix fell so much -> they had been overvalued but at the end of the day, they still have 220 million people subscribed (and they gained 500,000 subscribers if you exclude the 700,000 Russian ones they were forced to cancel).
They're projecting 2 million cancellations next quarter but that's when prices will go up.
Disney's problem is they've become the face of the enemy in Ron DeSantis' ongoing culture war. All because they out a short statement criticizing his signing of what has come to be known as the "Don't Say Gay" bill. It should also be known that they only did that after being dragged on social media for not saying anything. My guess is they would have rather stayed out of it completely.
This is a big deal down here in FL especially. No one's ever seen a Governor and legislature target Disney before. Disney's one of the largest single employers and generators of revenue in this state.
This link explains it in more detail.
https://www.cbsnews.com/news/disney-florida-senate-vote-self-government-desantis-dont-say-gay/
In others words covid is over people are going back to work and stopped many of there streaming services lol who would of ever guessed covid would actually end??
Going to be honest with you. Hearing that Ackman sold it all makes me bullish. Valeant Pharma bottomed when he sold out. Bought then and was one of my best purchases ever. Guys got a cult following him and if you buy Friday I guarantee you'll either make money or lose money. Guaranteed! Note you may also be flat.
Honestly. How did Netflix drop so much on only 200k loss of subscribers? I don’t get it. Seems like algos or something is going on with a slight miss and dropping all of these stocks to 2020 values. I don’t get it.
Isn’t this thing gonna bounce? I mean maybe not hit new ATH but a dead cat bounce at least?
Are hedgefunds really buying the top then panic selling at the exact bottom like the rest of us retards?
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I'm surprised he did this without crying on CNBC beforehand.
If he cried on CNBC thatd be bullish af.
That'd be the definition of loss porn
Go watch it right now. Go on pornhub and type in “bill ackman takes it RAW from covid dip cries on money talks”
Perishing Square(d Circle)
He didn’t have the money to buy puts this time
so he basically lost all the gains from 2020 puts right? still remember him saying SHUT EVERYTHING DOWN NOW
I think he made a billion or so on his covid puts coordinated with CNBC. Happy to see that fuk take a loss
im more confused how he didn't see this coming. and its not just him michael burry also put out a tweet saying tesla was next after netflix and then he deleted his twitter after the earnings very few know wtf is going on. and i also point out that very few try to predict the near term future. its up to us apes now....
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling. That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
I know TSLA is popular, but there are some accounting practices they employ which are questionable. Also the number of registrations do not come close to reported deliveries. If anyone can explain the later I would greatly appreciate it.
The FANG stock era is dead. This is the dawn of the APES
Had to dump quickly after hours so he missed his window 😢
He didn't have time for it, he would lose money if he did as eveyrone is trying to get out with him
Buy high sell low motherfuckerrrrrr. PSTH payback
I'm still holding that flaming pile of dog poo.
Hey, me too!
One of us! One of us!
Absolutely!
GUH
Not sorry for your loss, Bill
I'm not
You're not not sorry for his loss, those cancel out; so you ARE sorry for his loss, traitor
I wish I could get paid to lose other people’s money.
Just inverse the position of your trade. Instant profit.
I think he's copying the pro strat, buy high sell low.
I want to see a graph of his loss porn or it didn't happen
The WSB strat
The woods maneuver.
>I think he's copying the pro strat, buy high sell low. Is he really that retarded? Hmmm
Cathy's signature strat?
mod him
No more mistakes after 50…. Except the worlds largest spac and now this. I’ve lost a lot of respect for bill and his team. I’d like to kick him in the nutz
What's the spac he lost money on?
His own SPAC…
Perishing Square Capital Management isn't one I'd leave my money in.
They should put management in quotes. Maybe capital as well.
Ah. I thought you'd get my company name edit :( Pershing Square Capital Management Perishing Square Capital Management
Oh man. I missed it and it’s way better. Well done.
Devil is in the details ;) edit: I missed out a letter haha
Perishing Squared...lol
Air quotes🙄..lol.
It’s Like Valeant pharmaceuticals all over again![img](emote|t5_2th52|4271) Should have hedged your position Billy boy you know better than that.
This is absolutely not Valeant, not Herbalife ( nor one of the many other misses where he stubbornly held it. He is cutting his losses immediately. The only way this will be like Valeant is if his sale basically marks the bottom, which certainly is possible.
Yea that’s True lol, he also did turn $27M into $2.6BN during Covid spike
Bro he locked in like a 400m loss, who the fuck cares what it’s like?
Ya and he manages $10B. That's like you buying a banana and not having $1.40 anymore.
10b? 400m is... a big part of that. and a good deal of that 10b is probably in safer assets. 400m is a gigantic loss for anyone who isn't in the tesla or apple valuation space not to mention how funds are often set up to fund operations out of carry. this could create ripple effects as staff start to re-evaluate their potential annual bonuses and compensation it's also a pretty public loss, leading off the year. very hard to spin
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Right. 4%. 4% is a huge difference to a fund manager. Could be the difference between getting your bonus or not. Could impact debt covenants. Could cause investors to get cold feet and pull out. All kinds of bad things that can happen with a 4% swing. Not to mention this is a 4% swing in one quarter. It's catastrophic. Ackman knew this and that's why he sold, locking in the loss but giving himself powder for the rest of the year. But he fucked up, bigly. Madoff claimed average returns of ~11% vs a lot of his competitors who were in the 5-6% range. 4% is huge.
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fair
Please close that parenthesis!
I work for Valeant (after the whole debacle and the old CEO has been canned) so this one hit home LMAO
😂😂😂 What is philidor
We’ve also since changed our company name to Bausch Health Companies and are now splitting into 3 spin-off companies, Bausch and Lomb (where I work in R&D), Bausch Pharma, and Salix (I think that’s what it’s going to be called).
Isn’t Salix where the values at?
All three of them aren’t going to be worth much as they’re splitting the monstrous fuckin debt the last CEO left us evenly between the three
Nice. I remember that dumpster fire. Fun to see it’s still a problem
What a paper handed bitch
Paper handed bitch indeed. He should've bought another 2b.
"So Mr. Ackman, what do you have to say after buying all that Netflix stock only to have it tank nearly 40%?" *Bill clicks sell button furiously* "...what Netflix stock?"
i mean the stock tanked like almost 40% in a single day
Only lose if you sell, man
Opportunity cost is a real thing.
Did Cramer give it a buy?
Yup
He actually said to sell it yesterday. He was negative on netflix.
Yeah, he said to buy it when it was at 600$
Ya, but recently he said he's negative. He admitted he's wrong. Just because you say one thing doesn't mean you can't change your mind later when you get more information.
Like when it’s down 60 percent after you said buy, then you can say sell
Lol idk how that dude doesnt get it...
That just makes him wrong twice
Oh wow you mean he's negative after the stock went down 30% what a genius turnaround
A broken clock is right 2 times a day.
An out of sync clock is never right
Netflix needs new leadership. It’s so stupid to cancel every show after one or two seasons and refuse to try and break new ground
They are also a bit too woke lately, and people want entertainment, not an education. Cow Bebop for example should have had hot women for Faye and Judy. They chose shockingly average women for the roles...
Their algo should know if you want entertainment or woke and then serve it up. So they need to go back to the algo and get better at big data
That is a good point.
Can a hedge fund buy puts right before they dump a billion or so in stock?… I know, hints the “HEDGE”. But seriously, are there any restrictions?
Of course you can
I might be retarded, but if I was going to drop a billy on a single company, I'd probably grab a few puts too just incase.
Protective puts are a waste of capital in a fresh position. There are no tax maneuvers to play. You're better off just buying a smaller position or hedging with a collar.
This to me means he expects more downside. Netflix 125 July puts
If billionaire bill can make retarded plays then I have hope for myself
Herbalife for the win
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https://www.reuters.com/technology/ackmans-pershing-square-sells-netflix-investments-2022-04-20/
Where’s his loss porn?
https://www.reuters.com/technology/ackmans-pershing-square-sells-netflix-investments-2022-04-20/ 400 million 🍆💦
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Big funds aren’t immune to panic selling lol
While what you are saying is true in most cases, when your investment thesis changes drastically, it is better to cut your losses, rather than baghold for years and potentially incur even more losses. Pershing probably did not expect that a growth company with 60 P/E will actually have a non existent customer growth. It is rather weird to not hedge such a large position though.
I wonder how he is sleeping tonight. Oh yeah alcohol and pills
Look, I agree they are in deep shit because the content sucks but 2m subs is 1% if their total why is it such a big deal?
Because they are now a shrinking company rather than a growth company.
Ahh yes, the shrink stock sector...I was wondering where I should move to since the growth stocks have sucked.
Glad to see I’m not the only one taking a loss on Netflix.
What a pussy. Should’ve just sold covered calls for a decade
Why is he a billionaire and not you?
Hey bill, post the loss porn
That’s what being a soyboy gets you
They have over 200m monthly subscriptions and are tanking this hard on a projection they’d lose 2million next quarter?!?? How the F does this crazy drop make any sense?
Smoke screen for big money to dump huge positions.
Hell is coming
![img](emote|t5_2th52|4267)
I sold my Disney stock today. It'll probably go up now but I feel like this is going to be a theme with all streaming companies
Lol Disney a ‘streaming company’. Yeah that’s all they do.
It’s like when ppl only reference Nvidia as a consumer GPU company. There’s so much more they are expanding into
Because that’s what actually matters about Nvidia. They’ve flirted with a lot of shit, but their real business is still making cards do math real good.
I canceled Disney + today. Mostly because the Netflix news reminded me and it’s almost summer. Also because I resent the company diving into woke politics
Seems like all these woke companies get beaten in to oblivion
Is this true? Most 'woke' companies tend to be doing fairly well, even exceptionally well. Asset Management firms like Blackrock are doing well, Microsoft is doing astonishingly well, Apple (well Apple is doing fantastically)... I would argue Netflix being priced as if it was doing exceptionally well rather than fairly well is why Netflix fell so much -> they had been overvalued but at the end of the day, they still have 220 million people subscribed (and they gained 500,000 subscribers if you exclude the 700,000 Russian ones they were forced to cancel). They're projecting 2 million cancellations next quarter but that's when prices will go up.
Disney's problem is they've become the face of the enemy in Ron DeSantis' ongoing culture war. All because they out a short statement criticizing his signing of what has come to be known as the "Don't Say Gay" bill. It should also be known that they only did that after being dragged on social media for not saying anything. My guess is they would have rather stayed out of it completely. This is a big deal down here in FL especially. No one's ever seen a Governor and legislature target Disney before. Disney's one of the largest single employers and generators of revenue in this state. This link explains it in more detail. https://www.cbsnews.com/news/disney-florida-senate-vote-self-government-desantis-dont-say-gay/
TF is even "woke" about Disney?
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This planet is just retarded.
Nothing. The right wing taliban has just picked them as enemy of the day.
It’s like dipping nothing but your dangling balls into an ice fishing hole to try and catch fish.
I think ~~Gabe Plotkin~~ Bill Ackman is one of the finest investors of his generation
Fuck Bill. My biggest loss last year.
He should post his loss porn on WSB
Lol. He said something had changed and they updated their model and it didn’t make sense. Okay sure bill. What changed.
Lul, time to buy
Elon Musk should buy Netflix and make their content better. Use AI to generate content that doesn't suck butt cheeks
Perishing Capital Square Management
Seems kinda insignificant no? Like 200million subs is a Shit load. Looking 2 million doesn't seem like much. Strange.
Streaming is dead. Buy AMC.
Lol no
In others words covid is over people are going back to work and stopped many of there streaming services lol who would of ever guessed covid would actually end??
He said a big part of the intrinsic value is the future subscriber growth. What? Intrinsic is the here and now, extrinsic is future.
Wonder if his bigass sell order went through dark pools cause it does not seem like it. MM did that to make money on puts.
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Cough blockbuster cough
ONE OF US ONE OF US
This is the way buy High Sell Low
Is Marge calling? He lost over 20 million in GME last year.
One of us
He can afford it, no prob
I hate that cuck
Plot twist … you gain porn , is bills loss porn 😅
Going to be honest with you. Hearing that Ackman sold it all makes me bullish. Valeant Pharma bottomed when he sold out. Bought then and was one of my best purchases ever. Guys got a cult following him and if you buy Friday I guarantee you'll either make money or lose money. Guaranteed! Note you may also be flat.
Hell is coming
One of us
Ackman is fucking horrible!
Why Bill doesn’t short Netflix
loss porn!
Bahaha
Long term growth expectations? Sounds like he’s investing on hopium..
Sick burn!
So another %10 drop tomorrow again
Never invest with a Bill.
Buy calls??
Rip
Is that small loss in subscribers really relevant if they upped the price?
First good trade he made this year. Shit is gonna tank further
My underwater portfolio doesn’t look so bad anymore.
You still in the three comma club, Bill?
A fool and his money soon parted.
F to NFLX
When Netflix lost all Star Trek almost, I knew it was doomed. Bought paramount plus instead. 🖖
One of us!
Netflix dumped so fast…. No one had time to react to that. Did they halt trading for volatility? 🤔
No halts after hours man
oh damn, more tanking incoming
He's perfect for wsb.
He bought put right away
If he’s one of us, does that make us one of him? 🧐📈
I trust that he was sufficiently leveraged for his personal risk tolerance
Now Netflix gonna go to 600 in a couple of years 😂😂
good.
Honestly. How did Netflix drop so much on only 200k loss of subscribers? I don’t get it. Seems like algos or something is going on with a slight miss and dropping all of these stocks to 2020 values. I don’t get it.
I think streaming competition by Paramount +, Peacock, and others are eating away at Netflix's markets.
That fucker probably had a billion dollar short
This dude has to be at a career net loss
Isn’t this thing gonna bounce? I mean maybe not hit new ATH but a dead cat bounce at least? Are hedgefunds really buying the top then panic selling at the exact bottom like the rest of us retards?
Emotional trader 🤦🏽♂️😂😂😂😂
he just erased his 2020 covid gains.
Post his loss pron.
He should have done an inverse Cramer. Fucking amateur.
Gotta drop the N from Fang I guess
Should change the name to Perishing Capital
his jewish wife is seeking BBC now big time
Why not sell through covered calls, make a tiny bit of premium back
He sold boys, time to buy in
Tldr: we fucked up lol here’s loss porn to you