Thread by @rubiconcapital_

Let me tell you a story about how a nice family lost their farm to a bay st hedge fund.

It all started back in October 2018

Well let me tell you, at that time the greatest risk free piece of paper ever structured was structured.

some nice first nations communities and a kombucha maker were collateral damage

but i digress, when you lack investment ability you just do the only thing you know how to do and maximize the short term return from your risk free instrument and get a repricing from an absentee puppet board

getting ahead of myself, first club canada cannabis cough bmo said our capital is with dumpster fires and we don’t want you extinguishing our dumpster fires

question; ever had a competitor short your stock because they were scared

i haven’t but it sounds like fun

how can i and my hedgie buddies make sure our LPs get their money back, get our fees and raise our next fund? well working with our investee companies is surely not the answer

tell that to the songhees

it’s just business they’ll understand

guys we’re just a hedge fund and the only entrepreneurial thing we know how to do is take down entrepreneurs who are doing what we can’t do if we tried let’s sink them they won’t know what hit them

i keep digressing so then guess what happened the market took a poop and it doesn’t matter if you can just get a repricing from your puppet board

side note: bonus points if its not properly disclosed

question if equity is worthless why does quasi equity paper get more equity oh right because its risk free

if that was part of the cfa curriculum it would actually be worth studying

tomatoes peppers cucumbers geraniums it was once a simple time

and then the convertible debentures owned or monetized more equity than the farmers did in thirty years the end