The trader who doesn't sleep at night. His mistake cost $150,000,000,000.
Somewhere in Tokyo lives Masayoshi Son (CEO of SoftBank), who hit sell button on Nvidia stock back in 2019.
Remember that crypto winter? Nobody was talking about AI, and Nvidia cards were only good for mining. Crypto crashed (just like today), SoftBank's CEO panicked and dumped all his Nvidia shares, thinking he was saving what was left. Later, it turned out his panic led to a -$150 billion uPNL.
Seven years later. Another bear market. And smart money is doing the exact same thing again (selling).
A few public contenders:
• Arthur Hayes dumping his ETH bags at a -50% loss.
• Peter Thiel completely sold out of ETH.
• We'll find out about the other paper-hands soon.
A few years from now, we’ll see some smart money figure tearfully explaining how the big fish got away (the exact words of SoftBank's CEO at a 2024 shareholder meeting). Smart money and funds aren't always right.