00:00We're up 18% for the cost fee. What's going on? I mean, this is not sustainable, is it?
00:08It's a record move today. Obviously, the regulators talked earlier in the week about putting in
00:13curbs. Well, they may have put in curbs today for some of the leveraged products, but not the actual
00:19single stock products. As you say, the volatility is so vast that it's going to put off professional
00:25investors, I think, to have that kind of level of volatility. Something needs to be done to try and
00:31reduce that volatility further, because it is just probably the most volatile market, as we've seen
00:37on this trade of AI. But it's a concern, for sure. Yeah, absolutely. I mean, it's been so whippy,
00:44you have to wonder if really anyone has made money in this market in Korea. Situational awareness,
00:50did that have repercussions around the world or impacts on markets around the world? Or is that,
00:55you know, just talk, was it really too small of a situation to actually have that kind of an impact?
01:01I suppose if this fund itself was being levered and they were unwinding these, you know, clearly
01:08the news of the last 24 hours, they've probably been unwinding those positions for the last few days.
01:12And then it has a knock-on effect into other kind of levered products and levered positioning. So
01:17I suspect it was a contributing factor. And then it sort of would have helped to steamroll some of
01:23the other momentum factors, because we saw significant dispersion and stock volatility
01:29across many, many companies.
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