00:00Anthony, this sounds like a niche story, but actually it's important for sentiment today
00:05in markets. Yeah, he's a really prominent AI investor. So retail is very heavily followed.
00:14You know, you have one of his YouTube podcasts has over 500,000 views. His X account has over
00:19200,000 views. And this is despite him putting out some pretty terse AI content. He is a domain
00:26specialist. He's grown his fund from around $225 million to over 20 billion at the peak with
00:33concentrated bets on AI, whether it's in the energy space, in the chip space, in the computational
00:40space, in private markets. So he's an AI specialist. But unfortunately, he's been caught out by a
00:46combination of leverage and volatility. And in the insane volatility that we've seen the last month,
00:51he was on the wrong side of things. And it looks like the prime brokers who lent him this money
00:56have come asking for some of their margin back. To raise this money, he looked like he was trying
01:01to sell some of those private stakes. But in the end, what's happened is Citadel has bid him at a
01:06discount for that portfolio. Now that trade being completed has driven some of the reversion as some
01:13of that selling pressure from his fund eases in the AI names. So you see the portfolio that he holds
01:19being up around 15 to 20 percent across the United States. This includes a pretty large holding in SK
01:25Hynix ADRs. If you remember, situational awareness was also prominent in being a cornerstone investor
01:30in the Hynix ADR. So it is very important that that selling pressure is now relieved. And you can
01:36see the almost celebratory reaction in SK Hynix ADRs, which went to a 56 percent premium in the U.S.
01:43and are now trading anywhere from 25 to 30 percent up in Korea.
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