Ben Eifert
speaker
517 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Ben Eifert’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then but their returns were pretty good.
They actually kind of kept up with equity markets, which doesn't really make a whole lot of sense.
And it turned out the way that they were doing that was that they were just not buying back the downside put or buying or they were buying it back, but like way, way, way lower strike than they said that they were buying it back.
Right.
So that's obviously one way to make more money.
Kind of sounds really bad.
Yeah.
That was really bad.
And they they were doing that for years and years.
And they actually it's really great.
There's a whole SEC complaint about this.
You can read all the details.
They had to show this to investors what they were doing, right?
Because that's part of the business.
And so they had spreadsheets with all these kind of hard-coded cells and made up numbers to sort of be able to lie to investors and say that they were doing what they said they were doing when they weren't.
So they have
And because that's complicated to manage to have all these big spreadsheets faking your returns and faking your risk and everything, then they have a Word document with an eighteen points on like how to do all of the lying and number fudging for all their analysts to be able to follow.
And you know, instructions on how to not hover
Greg Tarant.
And it's like, you know, don't hover your mouse over a formula.
Showing 421–440 of 517 · page 22 of 26
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