Money Stuff: The Podcast Just Keep Bidding: MMTLP, PE, ETFs
5 snips
Jun 28, 2024 The discussion kicks off with short squeezes and the intricate dynamics of MMTLP, revealing community reactions and financial insights. They explore the controversial reverse merger of Torchlight Oil, sparking market manipulation theories and regulatory challenges. The hosts examine the evolving landscape of private equity recruiting, stressing early interviews and the pressures on candidates. They also delve into buffer ETFs, highlighting their market role and trade-offs while pondering investment strategies in tumultuous times.
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MMTLP Saga
- Torchlight, an oil company, used a complex merger with Metamaterials to punish short sellers.
- This involved creating non-traded shares (MMTLP) to trap short sellers, impacting retail investors.
SEC's Dilemma
- The SEC's fraud case against Metamaterials and its CEOs has a unique challenge.
- The SEC argues it's fraud whether the short squeeze worked or not, leaving ambiguity.
Just Keep Bidding
- Phil Falcone bought more bonds (Max Zips) than existed, then stopped lending.
- This forced short sellers to "just keep bidding," a classic short squeeze.