In "interesting things learned in Sunday annual report reading": the Softbank Vision Fund will be consolidated with Softbank for accounting/etc purposes and a material portion of their funding of it was with ARM shares which they apparently intend not to liquidate.
Not sure if I'm reading the tea leaves correctly: 
"Can you even do that?"
Well, speaking generally, LPs generally do not sign over their entire contributions in cash on day one. They contractually obligate themselves to the contributions. The fund then periodically issues "capital calls" and then the LPs have to settle up.
Well, speaking generally, LPs generally do not sign over their entire contributions in cash on day one. They contractually obligate themselves to the contributions. The fund then periodically issues "capital calls" and then the LPs have to settle up.
If you want an example of "Hard financial engineering to work one's head around", by the way, try reading their explanation of "We wanted to sell our Alibaba stake back to Alibaba and some other investors but do this in the most tax-efficient manner possible."
It's a long story.
It's a long story.
Blah blah blah $900 million in derivative losses blah blah wait did you just say $900 million in derivatives losses blah blah oh those may have been actually planned for blah blah.
There are times where I am glad that this is not actually my job.
There are times where I am glad that this is not actually my job.
