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SVTPerformance's Chain of Restaurants
Road Side Pub
SVB is Now In the Hands of the FDIC
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<blockquote data-quote="JAJ" data-source="post: 16890249" data-attributes="member: 131874"><p>I wasn't referring to VC firms, I was referring to VC partners. They can short anything they want, so long as there's no conflict. Just imagine that, one day recently, a VC partner (or a PE partner) gets a call from a buddy who's an analyst at a hedge fund. The buddy says SVB looks shaky, so the VC acts expeditiously to protect his personal assets, any of the fund's assets and most importantly, the fund investees' assets. It's a small community, and other VC's that have coinvested in deals with our VC, hear what's going on and join in the run on the bank. Once each has cleared their conflicts, they might just keep going and short SVB stock in their personal account. </p><p></p><p>So, if that's happened, nobody broke any rules, except maybe the hedge fund analyst. The sky-is-falling story I expect to hear though, is that the VC's took short positions before the run on the bank. As for the hedge fund guy, well, if he already had a short position when he called the VC, he could be in some trouble.</p></blockquote><p></p>
[QUOTE="JAJ, post: 16890249, member: 131874"] I wasn't referring to VC firms, I was referring to VC partners. They can short anything they want, so long as there's no conflict. Just imagine that, one day recently, a VC partner (or a PE partner) gets a call from a buddy who's an analyst at a hedge fund. The buddy says SVB looks shaky, so the VC acts expeditiously to protect his personal assets, any of the fund's assets and most importantly, the fund investees' assets. It's a small community, and other VC's that have coinvested in deals with our VC, hear what's going on and join in the run on the bank. Once each has cleared their conflicts, they might just keep going and short SVB stock in their personal account. So, if that's happened, nobody broke any rules, except maybe the hedge fund analyst. The sky-is-falling story I expect to hear though, is that the VC's took short positions before the run on the bank. As for the hedge fund guy, well, if he already had a short position when he called the VC, he could be in some trouble. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
SVB is Now In the Hands of the FDIC
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