Victor Higani

When that happened, that triggered all kinds of risk managers all over the financial system to say, hey, you know, we're going to take we got to take risk off the table.

When that happened, that triggered all kinds of risk managers all over the financial system to say, hey, you know, we're going to take we got to take risk off the table.

When that happened, that triggered all kinds of risk managers all over the financial system to say, hey, you know, we're going to take we got to take risk off the table.

And it just freaked everybody out. And all of a sudden, everybody was like, we got to reduce risk. Where can we reduce risk? And then that started to set something in motion at that point.

And it just freaked everybody out. And all of a sudden, everybody was like, we got to reduce risk. Where can we reduce risk? And then that started to set something in motion at that point.

And it just freaked everybody out. And all of a sudden, everybody was like, we got to reduce risk. Where can we reduce risk? And then that started to set something in motion at that point.

We're losing money. The market is much more volatile than it's been. Lots of different positions we have are losing money, but not all of them. That was very disturbing. It was very stressful, and we were trying to figure out how to react to different things. But the market was still functioning well.

We're losing money. The market is much more volatile than it's been. Lots of different positions we have are losing money, but not all of them. That was very disturbing. It was very stressful, and we were trying to figure out how to react to different things. But the market was still functioning well.

We're losing money. The market is much more volatile than it's been. Lots of different positions we have are losing money, but not all of them. That was very disturbing. It was very stressful, and we were trying to figure out how to react to different things. But the market was still functioning well.

And some of the exact positions that we had all of a sudden, you know, made a huge gap move, just got repriced instantly and, you know, very far away from where it had been.

And some of the exact positions that we had all of a sudden, you know, made a huge gap move, just got repriced instantly and, you know, very far away from where it had been.

And some of the exact positions that we had all of a sudden, you know, made a huge gap move, just got repriced instantly and, you know, very far away from where it had been.

Like this one bet, which, you know, I mean, it would never move more than 1%, but it moved by 12% up against us.

Like this one bet, which, you know, I mean, it would never move more than 1%, but it moved by 12% up against us.

Like this one bet, which, you know, I mean, it would never move more than 1%, but it moved by 12% up against us.

It was not. When we just saw things that didn't make any sense anymore, we're okay. When we saw the thing went down when it should have gone up, then we knew what was happening for sure. And it was like, that was like that stomach dropping moment.

It was not. When we just saw things that didn't make any sense anymore, we're okay. When we saw the thing went down when it should have gone up, then we knew what was happening for sure. And it was like, that was like that stomach dropping moment.

It was not. When we just saw things that didn't make any sense anymore, we're okay. When we saw the thing went down when it should have gone up, then we knew what was happening for sure. And it was like, that was like that stomach dropping moment.

It was like, we've got to raise this capital fast. You know, otherwise there's no, you know, this is this is not going to end well.

It was like, we've got to raise this capital fast. You know, otherwise there's no, you know, this is this is not going to end well.