@fintwit

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All things finance
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Melvin Capital shuts down
Melvin Capital, the hedge fund burned by the GameStop mania, is shutting down and returning cash to investors.
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Nasdaq wipes $7.6 trillion
The Nasdaq has erased $7.6 trillion in market value this year
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Hedge funds down bad
Tiger Global has in four months erased about two-thirds of its gains since its launch in 2001.
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Bitcoin down 55%
Bitcoin, the world's largest cryptocurrency, is down 55% from its November all-time high.
40% of holders are now underwater.
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Netflix
Netflix stock is down 70% since the release of Squid Game
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Tiger Global down 44%
Tiger Global’s flagship hedge fund is down 44% in 2022, one of the biggest hedge fund drawdowns in history.
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The market is really brutal for stock picking, specially if you are a long but not a staples, utility energy fund...
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Fed decision
Markets rally after the US Federal Reserve raises interest rates by half a percentage point, the largest rate hike since 2000.
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U.S. economy shrinks
The U.S. economy shrank at a 1.4% annual rate in the first quarter of 2022, its first contraction since early in the pandemic.
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0.83 I believe came from Inventory. Worried if the Consumer side falls off a cliff. Only time will tell if this is a blip or a trend. Companies are still hiring and demand is there although slowing. Good luck Mr. Powell.
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