"One person on the call bluntly asked if the losses would affect their bonuses, which can make up a huge proportion of managing directors' total compensation. (Bonuses may already have been a sore subject, given the bank rewrote the structure for cash payouts...
... in investment banking and capital markets last year.) Gottstein and Chin responded with a call for solidarity across business lines, a nonanswer that eroded their credibility, the person on the call told Insider."
"Thiam had once called Luckin, co-founded by the Chinese billionaire Lu Zhengyao, a " dream client ." Credit Suisse was the lead underwriter in Luckin's May 2019 initial public offering, which raised $561 million, and helped Zhengyao and Luckin on other deals and financings"
"The bank maintained close ties with Luckin throughout the relationship: The company's chief financial officer had been a Hong Kong analyst and investment banker at the bank, and Zhengyao's daughter worked for the bank in Hong Kong, Bloomberg reported last year in April." $LK
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"But the investment bank had information it didn’t share with the stock buyers: The basket of shares it was selling, comprised of eight or so names including Baidu and Tencent Music, was merely the opening salvo of an unprecedented wave of tens of billions of dollars in sales"
"Morgan Stanley was the biggest holder of the top ten stocks traded by Archegos at the end of 2020 with about $18 billion in positions overall. Credit Suisse was the second most exposed with about $10 billion, these sources noted....
$TSLA delivered ~3k Model Ys in Q1 and ~13k Model Ys in Q2.
Tesla is now cutting the price of the Model Y in the U.S. (before the Model Y is even available in markets outside N.A.)
To put the Model Y price cut in perspective, Tesla had delivered over 80K Model 3s before it launched a lower priced version of the Model 3 the MR in October 2018.
Clearly initially Model Y demand is running materially lower than initial Model 3 demand.
Unlike the Model S, the Model 3, and the Cybertruck, Tesla has never released any Model Y reservation or deposit numbers.
One can likely infer that the numbers were always underwhelming.
In January 2017 right at the end of the Obama administration, NHTSA issued a report declaring that there were no safety defects with Autopilot and that autopilot resulted in a 40% reduction in the Tesla vehicle crash rate.
The NTSB also issued a report on this crash in September 2017 where it determined the operational design of the Tesla’s vehicle automation permitted the car driver’s overreliance on the automation (ie #predictableabuse) was a contributor to the crash.