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>Start with Shkreli's record as head of MSMB Capital Management, the hedge fund he launched in 2009. According to the SEC, he took in $660,000 from investors starting in November 2009; by November 2010, $331 was left. Some of the money allegedly went to fund Shkreli's lifestyle, but most was lost in trading. This was in a period when the benchmark Standard & Poor's 500 index gained roughly 13%.
>He took in another $2.35 million in investments in December 2010 and January 2011, the SEC says, including $1.25 million from a single investor. By the end of January, half the money was gone, and by the end of February it was all gone and MSMB was in the red. This was during a period in which the S&P 500 index gained nearly 9%.
>But Shkreli's biggest blunder was an enormous short position in Orexigen Therapeutics, a La Jolla biopharma firm with an obesity drug. Shkreli shorted 32 million shares of Orexigen on Feb. 1, 2011, when it was trading about $2.50 per share.
>This was a massive bet that it would fall from there. But what was curious about this trade was that Orexigen shares had just taken a huge hit, falling from $9.09 the day before, when the Food and Drug Administration had issued a report questioning the obesity drug's cardiovascular safety. Shkreli, in other words, shorted at the low. Orexigen bounced back, gaining more than 50% from its lows over the next few days and ending the month up more than 30% from where Shkreli had shorted. Because short-trades lose money when the stock rises, Shkreli's trade was blown to smithereens.
Why do people still trust that living meme?
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>>1473632
Same reason they love Trump... he says outlandish things that they wish they could say themselves. It's like a little scrawny shitty kid following a big bully around sucking his dick, hoping to be him one day.
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>>1473646
shkreli is nothing like trump, he beats the market average
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https://www.sec.gov/litigation/litreleases/2015/lr23433.htm
lol. still tho.
theres a lot to learn from failures as well as successful ppl .
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>>1473655
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>>1473632
>http://www.dailymail.co.uk/news/article-3365216/How-fraudster-wunderkid-Martin-Shkreli-blew-millions-hip-hop-fantasies-AIDS-drug-gouger-set-pay-2m-rapper-s-bail-spent-2m-Wu-Tang-album-trying-hide-huge-losses.html
Shows that all you need is good connections to people with money. I bet he bagged a lot of the money. Seems like he was basically just gambling the money away while pretending to be some smart-ass genius investor.
Also nothing he does makes sense. His hedge fund choices, bailing out some unknown rapper, buying an album that he can't do anything with, jacking medication prices then antagonizing the press, wearing a hoodie to court.... etc. etc.
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>>1473632
I remember watching some of those streams he'd do. he just stroked his dick the entire time and sort of cherry picked when he wanted to act really responsible and sound with these super weird yes-men that were regulars. it was pretty insane and I felt like he was full of shit just from seeing it.
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>>1473840
you nailed it. i never say this about anyone, but the dude is a genuine psychopath. he fakes all emotion, has no friends, and just picks fights with internet retards and randomly goes from being serious to joking, but his joking and playing around are always very awkward and cringey. thinks he is one of the most intelligent people in the world, unironically, and thinks he is good at everything. i thought about callinng him during a stream and chatting shit because i would fare better than a lot of those retards and i am already educated in his areas, but i think he would try to ruin your life if you 'beat' him at his shtick.
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