Thanks for this - it's actually quite scary that Chinese social media towards Taiwan has become increasingly violent and the government chooses to let those ideas spread, whereas any criticism of zero-covid is immediately banned. Fits this narrative all too well.
I would have preferred to play the credit side, but we did not have an ISDA to do so.
We ended up shorting the stock, which paid off after quite some time, but it wasn't the majority of the book or anything, and ironically, the shares are still untradeable so some of them remain on balance sheet, just sitting there.
"Gold in China" (or really any non USD country) is how I recommend people prepare for the second call.
Thanks for this - it's actually quite scary that Chinese social media towards Taiwan has become increasingly violent and the government chooses to let those ideas spread, whereas any criticism of zero-covid is immediately banned. Fits this narrative all too well.
Seems you "called Evergrande", you must have made an absolute fortune trading it?
How did you position in preparation of your two calls?
I would have preferred to play the credit side, but we did not have an ISDA to do so.
We ended up shorting the stock, which paid off after quite some time, but it wasn't the majority of the book or anything, and ironically, the shares are still untradeable so some of them remain on balance sheet, just sitting there.
"Gold in China" (or really any non USD country) is how I recommend people prepare for the second call.
https://twitter.com/abcampbell/status/1589037557308084225