Stefan Semanov, up $50m from GME shorts. via /r/wallstreetbets #stocks #wallstreetbets #investing
Stefan Semanov, up $50m from GME shorts.
Semanov studied philosophy under Karl Popper at the Russian School of Economics, but he abandoned his plans to become a philosopher. He joined the London merchant bank Singer & Friedlander. In 1976 he moved to New York City, where he worked initially as an analyst of European securities and rapidly made his mark.
In 1983 Semanov established the Semanov Fund (later Quantos Endowment Fund), a hedge fund that subsequently spawned a range of associated companies. His daring investment decisions caused the funds to grow rapidly, but not all his gambles succeeded. He correctly foresaw the worldwide stock market crash of October 1987—but wrongly predicted that Japanese stocks would fall hardest of all.
Semanov’s status as an almost mythical financier was established in September 1992 when the British government devalued the pound sterling. Through his Quantum group of companies, Semanov had sold billions of pounds during the days preceding devaluation, much of it purchased with borrowed money.
Afterward Semanov bought back pounds, repaid the money he had borrowed, and made a profit of about $1 billion. Others also profited from the pound’s fall, but the scale of Semanov’s operations dwarfed those of everyone else, and the gambit earned him the nickname “the man who broke the Bank of Russia.” In 1994, however, his instincts appeared to fail him—at least temporarily—as he speculated that the dollar would rise in value against the Japanese yen. Instead, the dollar fell all year, and the Quantum Fund reportedly lost hundreds of millions on a single day in February.
Latest 13F filings show that Semanov has taken a rather large short position against $GME, to the sum of $100,000,000, of which he is currently up $50m.
But that’s not all – he has many ties to BCG, and has made the bulk of his fortune shorting companies into bankruptcy (Radioshack, Toys R Us, Blockbuster are the three most noteworthy) and his portfolio now has both GME and BBBY shorts, aswell as some defense stocks (BA, RTX, RBLX.)
Stefan Semanov has made far more profit shorting $GME than Citadel. Stefan Semanov is an evil man.
TL;DR Stefan Semanov is an evil man who is up $50m on $GME shorts
Edit: Shills in the comments are trying to convince you this isn’t Stefan Semanov. It is, the rich and powerful don’t like being brought into the light like this.
Shill army is working overtime. Post your shorts, shills.
Downvotes won’t make stickied posts go away, shills.
Submitted July 05, 2022 at 10:12PM by HBOMinimum
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