The number everyone is missing This might not have been a $45B selloff It could have been a much bigger trade hiding behind leverage Situational Awareness had → ~$45B NAV → Heavy leverage exposure → Potentially $100B+ in gross positions Meaning the headline exited public equities might be way smaller than the actual market impact Everyone expected the chaos and the market basically shrugged AI has officially reached the even giant liquidations are just another thrusday phase
Justin WuShare
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