The Day Oil Went Negative, These Unlikely Traders Made $660M
Рет қаралды 2,464,724
Күн бұрынOver the span of a few hours one day in April 2020, a guy called Cuddles and eight of his pals from the freewheeling world of London’s commodities markets rode oil’s crash to a $660 million profit. Now regulators are scrutinizing their once-in-a-lifetime trade.
Read more about the story in Bloomberg Businessweek: www.bloomberg.com/news/featur...
#Oil #Storylines #BloombergQuicktake
--------
Like this video? Subscribe: kzfaq.info?sub_...
Become a Quicktake Member for exclusive perks: kzfaq.infojoin
QuickTake Originals is Bloomberg's official premium video channel. We bring you insights and analysis from business, science, and technology experts who are shaping our future. We’re home to Hello World, Giant Leap, Storylines, and the series powering CityLab, Bloomberg Businessweek, Bloomberg Green, and much more.
Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel QuickTake News for breaking global news and insight in an instant.
@tylero8595 3 жыл бұрын
Anytime a small group of traders who make it big, theres always an investigation. But when wallstreet or the city do it, its never a problem. Its completely crooked.
@tomlxyz 3 жыл бұрын
It's not that surprising. When big firms do it there's a lot of people behind it. When a few people make it big they won a game against big firms despite much lower manpower which raises the suspicion if everything was going right
@prayagmehta9738 3 жыл бұрын
@@saif__ wallstreet does not trade oil they will never stomach the regular losses
@grogery1570 3 жыл бұрын
That's not true in '08 after the world economy was almost destroyed there was an investigation. Apparently it was all the fault of school teachers. (ok I am ripping off the big short here)
@anonymous5424 3 жыл бұрын
bro imagine the brokers 😭 😂
@thensaiswatchingtoo2977 3 жыл бұрын
At the end of the day big trading firms and hedge funds give the SEC and congress people their paychecks.
@NotoriousRawDogger 3 жыл бұрын
The big firms do this the whole time. It's nice seeing the small guys win
@soccerplayer2277 3 жыл бұрын
Yah i did this for my company, made just under 20M CAD in 3 months
@AugustaChile 3 жыл бұрын
@@soccerplayer2277 agree but still fishy that they had the most volume by far selling by end of day
@soccerplayer2277 3 жыл бұрын
@@AugustaChile I think the speed is what is suspicious, but the overall concept is not, too many firms were over-extended in oil, selling power far exceeded buying power. You need to look at it from a liquidity standpoint and this is also where manipulation can come into play. If no one wanted to buy oil futures then well it's going to go negative because a whole lot of people wanted to sell. When I discussed the play my boss and I organized we were incredibly concerned about delivery and not being able to liquidate our long position. Hence why we didn't make a whole lot of money and it took a lot more time for us.
@nelsonreyes7157 3 жыл бұрын
You had to explain this to your boss? Lol
@winnifred6768 3 жыл бұрын
@@nelsonreyes7157 bro this man made 20 million and you're worried about what he discusses with his boss?????
@King-ty9qv 3 жыл бұрын
Some people can't stomach the fact that a 22 year old made more than they'll ever make in their life time
@Editnamehere 3 жыл бұрын
You’re sheep if you think this actually happened.
@FabR27 3 жыл бұрын
@@Editnamehere what? You can literally check the records. It happened.
@Editnamehere 3 жыл бұрын
@@FabR27 records? Yeah okay. That’s why it wasn’t shown in the video talking about the trade. Sheep.
@Editnamehere 3 жыл бұрын
@@FabR27 did you know Santa Claus is real? Yeah look it up.
@cartapo2669 3 жыл бұрын
@@Editnamehere Ironic that you're the actual sheep. Probably believe youtube videos made in some guys basement.
@LagParty 3 жыл бұрын
This story sounds to me like a team of mad lads being absolute legends
@josht9297 3 жыл бұрын
@Donky kon you sound a little bitter lol
@ThatBigGuyAl 3 жыл бұрын
Hahaha I love this description 😆🤣
@metalmyron 3 жыл бұрын
waiting for the Guy Richie film about it
@fidelio9301 3 жыл бұрын
Absolute squad m8
@andybaldman Жыл бұрын
That money has to come from somewhere. And the more people there are with orders of magnitude more money than you, the more it drives up prices of everything for you and me.
@myczxr 3 жыл бұрын
"led by a guy named 'cuddles'" the future is now
@saqibq 3 жыл бұрын
"futures" is now!
@esgee3829 3 жыл бұрын
so american. he's called when in britian.
@andreworrell8407 3 жыл бұрын
In the US, led by a guy called Roaring Kitty!
@bign1667 3 жыл бұрын
@@omardelmar really?
@astrorecordingsomegaenterp888 3 жыл бұрын
Cuddles!👌🤯😂😍
@nobody.123 3 жыл бұрын
*Hey Bloomberg, you should give your sound engineer a raise.* They’re doing a great job.
@truth.speaker 3 жыл бұрын
The author of the above comment is the sound engineer 😹
@simplysimple4794 3 жыл бұрын
I went through the video because of your comment and the sound stage is actually surprisingly complete. For sure made the video that much more enjoyable. Didn't even notice it - I suppose that's what it's all about. To immerse you without you noticing it.
@nobody.123 3 жыл бұрын
@@simplysimple4794 For sure. I’m a musician so maybe I’m subconsciously attuned to it. Whoever mixed the audio did a great job, KZfaq playback is in stereo but the audio almost feels like 5.1 surround.
@business 3 жыл бұрын
She is doing a great job!
@MiCnWww 3 жыл бұрын
@@business that sounds like a deserving raise coming!
@agedvagabond 2 жыл бұрын
I was short on this with next to no trading experience closed right as it approached 0 because I had no idea what 0 would mean. Still $500 into 30k was not a bad day what a time to be alive.
@Tigarichie 2 жыл бұрын
What platform did you use to short it?
@joeblow6384 2 жыл бұрын
@@Tigarichie Ninjatrader and Tradovate are the two most will know futures trading platforms.
@capnskiddies Жыл бұрын
Fair play to you
@joeishere500 Жыл бұрын
HOLY COW
@benv51 Жыл бұрын
Cap
@MackMittenzTV 2 жыл бұрын
100M in a day at age 22 is insane 🤯
@stefamarz Жыл бұрын
I hope he doesn't lose it all in a single trade or single bet.
@upinsmokelol5759 Жыл бұрын
@@stefamarz I bet he dosn't even trade anymore and if he did it would be with very small money, guarantee he dosn't day trade anymore probs just long term investments, I bet he stays as far away from futures as he can lol I know I would after making that amount
@BaileyMxX 4 ай бұрын
@@upinsmokelol5759 the story of Jesse Livermore proves otherwise. Greed and ego gets the better of people
@Sun2Gway 4 ай бұрын
@@stefamarz Man I doubt he would ever run out of that much of money by simply gambling and betting, unless he goes all in on something, but otherwise doubt it.
@glo1168 4 ай бұрын
@@upinsmokelol5759you would hope lol but killing that hard in one go it’s like a serial killer, they always thirst to repeat the thrill. Plus it’s a skill and knowledge that took them time to develop and achieve this status, so it’s also like Michael Jordan, they keep coming back from retirement to the game they know and love so well
@lc285 3 жыл бұрын
Considering the big players playing dirty in the market for years with nothing more than a cursory slap on the wrist, and a group of misfits taking them out, one, only 22 years old, somehow, it seems like fair play.
@Deloowix 3 жыл бұрын
If you think they did this without any insider info or connections, think again.
@prateek4279 3 жыл бұрын
@@Deloowix if we think about it , these big guys might also do insider trading and they are just forgiven but if someone else makes a buck they should be given a chance
@Deloowix 3 жыл бұрын
@@prateek4279 what I meant is that these 22 year olds are probably buying on behalf of someone else. You wouldn’t want to put your name up there if you were doing something shady right? I’ll ask for permission to use the names of my son, niece or a relative instead.
@TopTheMan 3 жыл бұрын
And those money that they took has probably been converted to cryptocurrency, which likely making them many times richer in the future. Cheers to the young boys ;)
@prateek4279 3 жыл бұрын
@@Deloowix That can be shady but they did this by themselves then they should not be pestered
@igotalottastuff 3 жыл бұрын
These mad lads are mental, what absolute legends.
@dario8433 3 жыл бұрын
I really hope they get to keep their money, they're set for life!
@Debojit_chanda 3 жыл бұрын
They are legends!
@alhollywood6486 3 жыл бұрын
Oi Oi!
@vb8428 3 жыл бұрын
@@dario8433 Some of them will definitely risk most of it to get more
@fidelio9301 3 жыл бұрын
Total Essex lads love it tbh
@LenaSchweizer-ff8xy 4 ай бұрын
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
@MorganGarner-bk 4 ай бұрын
It comes down to technique; a downtrend gives you room to focus on the market and grow significantly in the short or long term. While it is easier to make money when the market is rising, a downtrend can still yield high returns if you have the necessary knowledge and skills. For this reason, I have been scaling up during this difficult period by working with an investment advisor; this has been the only way I have raised up to $150K in the last six months.
@MorganGarner-bk 4 ай бұрын
@LarryE.Zamora One of the fiduciaries I deal with is Alicia Ann Jordan. Just check the name. There would be a letter with the necessary information to set up an appointment.
@AaronZak-js 4 ай бұрын
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
@lyreco7910 3 ай бұрын
Don't take advice from random people on the internet and play it safe. Don't lose your retirement
@coelhocointech9841 4 ай бұрын
22 years old making 100 million in a day has got to be the greatest trade ever
@business 3 жыл бұрын
Want to learn more about Cuddles' incredible oil trade? Read the full story on Bloomberg Businessweek: www.bloomberg.com/news/features/2020-12-10/stock-market-when-oil-when-negative-these-essex-traders-pounced
@davidf7076 3 жыл бұрын
Gotta love how the Big Short is still so relevant..
@craffte 3 жыл бұрын
@@davidf7076 Get Shorty
@Tential1 3 жыл бұрын
Small guy gets the win and all of a sudden they are super mad. Big firm makes this same trade and they are congratulated
@shawnbrownfield9857 3 жыл бұрын
Bc normally the small guys dont have money like that to gamble with....where a hedge fund can just write it off on taxes if they lose
@pole040 3 жыл бұрын
They were taking a huge risk because the opposite could have happened. Their risk - their money. Well played
@MrBLAA 3 жыл бұрын
Exactly! Best believe if those Chinese traders had came out on top… they wouldn’t have batted an eye
@dnhdfnfkrjxjxfjjggj3002 3 жыл бұрын
@@MrBLAA chinese traders and "batted". I see what you did here .🤭🤭🤭
@nicomal 3 жыл бұрын
Also the people who lost money took a big risk as well. It takes a willing seller for the buyer to make a buy. The one under investigation should have been the manager of those investment funds, did they tell people about the risk of this type of investment? Why did they incur in such a risky trade if they were gambling with people's life savings. And what are they saying about oil producing countries losing money? What about oil consuming countries saving money?
@jewellui 2 жыл бұрын
How did the 20 year olds have enough money to make such big trades in the first place though?
@tayyabakram2797 2 жыл бұрын
@@jewellui it's leverage son
@nidrvlogs Жыл бұрын
100Ms in a day at age 22 I have to salute that guy man, even 10 million is a lifetime goal and he made 100 in a single afternoon 😂
@harishsrinivasan5249 3 жыл бұрын
Sensing a fair bit of saltiness, but remains to be seen what comes of this. This is definitely going to be made into a Finance movie like the Big Short
@Johnny-hq3cd Жыл бұрын
no it wont
@defwishfx4400 3 жыл бұрын
Not all the money went to the bad guys: I made ~10€ Before fees and tax of course.
@SanfanCSGO 3 жыл бұрын
My man! How'd you spend your money? :D
@defwishfx4400 3 жыл бұрын
@@SanfanCSGO thanks for asking: Fast cars, gambling, women and drinking. The rest, tbh, I just yolo'ed away. You feel me?!
@johnlocke1977 3 жыл бұрын
@@defwishfx4400No, you sound like you need to reexamine your life.
@lordperezident 3 жыл бұрын
@@johnlocke1977 sounds like you don't get the joke lol
@delesgames 3 жыл бұрын
@@lordperezident i think he got it and carried on with it
@zachreed9836 3 жыл бұрын
Making too much money in the market as a normal person is considered a sin These 9 guys walk away theyll be remembered Is not just legends but just like Michael Berry The ones who predicted something no one could see.
@levelup1279 3 жыл бұрын
They should sell their assets & buy bitcoin, then hold it on very secure storage so that the government cant steal it.
@zachreed9836 3 жыл бұрын
@@levelup1279 I severely doubt there gonna do that it's not like they did anything wrong all they did was make a lot of money like Michael Berry and received a shitload of hate Like Michael Berry But if I were in their situation I wouldn't care it's not like I did anything. wrong.
@tomr6955 3 жыл бұрын
Stop saying Berry
@zachreed9836 2 жыл бұрын
@@tomr6955 Michael Berry
@shinchannohara4574 2 жыл бұрын
@@zachreed9836 it is Michael burry
@einseitig3391 3 жыл бұрын
This is a great story. As a day trader, this is what you aim for. Every day you take much (much) smaller sums and you wait for the big one. Very well done to them.
@tomlxyz 3 жыл бұрын
Yeah and about 70 % of day traders got no profits at all
@mvl3379 3 жыл бұрын
@@tomlxyz no, it's way worse; 99% fail
@TubeBrowser2 2 жыл бұрын
@@mvl3379 "Failing" and quitting before learning how to be profitable are 2 different things. Most people who attempt intraday trading do not fail, they quit.
@Bobbyeverything2000 2 жыл бұрын
@@mvl3379 That study is pretty outdated, most "day traders" attempt for 6-12 months at most without any idea risk management, and usually copy trading guru's without back-testing strategies. It's not crazy difficult to code a strategy and test it w/python, or learn pine editor on Trading view. A lot of people won't be successful at trading, because most people don't actually put in the time. Rather they waste time watching KZfaq guru's, and not following strategies surgically, without any emotion.
@adoe2305 Жыл бұрын
@@TubeBrowser2 is that what you say about people who leave the casino before they learn how to win?
@williamlloyd3769 3 жыл бұрын
Seems like source material for a movie. Perhaps a real life “Margin Call” drama level story.
@the3idiots14 3 жыл бұрын
Do you think Margin Call wasn’t based on a real world events?
@rambo3870 3 жыл бұрын
@@the3idiots14 lehman bros...
@warboyrb 3 жыл бұрын
Movie title "Oil is now"
@the3idiots14 3 жыл бұрын
@@rambo3870 Yes I’m well aware.
@the3idiots14 3 жыл бұрын
@@rambo3870 That was the point of my comment. Much more than Lehman too.
@e2rqey 2 жыл бұрын
Man I wish I could have seen the room and their reactions when they realized what they had done. Must have been absolutely insane.
@nikhilsharma-lo6yx Жыл бұрын
Proud of you boys ! Being a trader myself, you guys had the balls to be in the trade. Congratulations!
@ethan.9415 Жыл бұрын
Extra interesting today. Thank to Sam Deymon for just the news everyday. I learn more in 10-15 minutes with you than hours upon hours of main stream media.
@Rose-nj2zj Жыл бұрын
I totally agree with you it has been an eye-opening experience for me on how trade works with sam.
@melissarebecca4618 Жыл бұрын
After my portfolio took a big hit in April, I was forced to employ the services of an Investment-analyst that has not only accrued a profit of $150 thousand for me since then but has also taught me how.
@haroldroger1624 Жыл бұрын
My first Investment with Mr Sam Deymon gave me profits of over $47K U.S dollar.
@gregoryden8711 Жыл бұрын
Is there anywhere I can get across Sam Deymon for a startup.
@haroldroger1624 Жыл бұрын
Financial freedom is possible, you just need to know what to do and when to do it. I am a living testimony of Sam Deymon profits. Beginners can lose a lot of money without proper guidance. Best bet is to get a professional trader.
@S2Tubes 3 жыл бұрын
At 22 the risks are minimal. You either succeed and become set for life, or you fail and declare bankruptcy. It's easily recoverable at that age with no assets.
@1RAGEACE 3 жыл бұрын
Limited liabilities. You are antifragile. Convex gains
@lakeguy65616 3 жыл бұрын
you have to have capital to trade. they had real money at risk. it wasn't all borrowed.
@CHRIS198490 2 жыл бұрын
@@lakeguy65616 how much they had to make 660 millions
@gheechiedan9299 6 ай бұрын
I was an active Day Trader when this event happened a few years ago and I was watching the price of oil go negative LIVE in real time and I could NOT believe it! I had all types of thoughts in my head. Will the price of gas drop to .50 cents or less? Will this wreck other economies? The thing I was thinking most was, I KNOW oil is gonna bounce back real soon so where can I buy it and hold for the run up! It was very confusing. It just KEPT dropping: - 1.58 ! -3.75 ! -9.15! -20.34! I never got in because I couldn't see a bottom in sight! Just like I thought oil came back and made an EPIC bounce! 🤔
@BRuane-pw6xq Ай бұрын
SPR ? Trump failed to buy it all for SPR.
@audigex Жыл бұрын
A lot of the talk about this is "How could they have known it would go negative?" - to which the obvious answer would seem to be that they probably didn't... they just expected it to drop, and got lucky that it dropped far more than they expected. Of course, that doesn't preclude funny business - but it's entirely possible for someone to make a bet and then be surprised that it went more their way than they expected
@LetterSignedBy51SpiesWasA-Coup 3 жыл бұрын
It’s interesting how if you’re too successful at trading and not an investment bank, the government seeks to take away your money and your freedom (particularly in the UK).
@iainduncan0303 Жыл бұрын
Why particularly the uk? What evidence do yoi have have back that statement up? I'm fairly sure you do it In russia or china you get shot
@Jessebowyer 3 жыл бұрын
Shoutout to that young lad that made 100 Mil !!!!!
@AgKeClva_ 2 жыл бұрын
We need a movie based on these winners 🔥
@basholtman4103 3 жыл бұрын
Save yourself the 14 min view here’s a summary in one sentence: 9 friends out of essex made 660 million in 1 trading day, and 2 bloomberg journalist don’t know whats going to happen next.
@cryptocontrolyoutube7338 3 жыл бұрын
Thanks for💹 Watching::::Tell Harry referred you to him W::h::a::t::s::A::p::p:::):::):::+1..6..4..7..4..9..4..0..9..5..6.........
@Obecox 2 жыл бұрын
Pretty much
@johjohnson 3 жыл бұрын
What would be interesting is how much money they were in the market for and understand the level of capital at risk when they placed these trades.
@fitzy1093 3 жыл бұрын
Totally agree... would be super interesting to see some analysis around this
@traviszane5334 3 жыл бұрын
They sold put options on futures they were probably not risking anything near what they made options at a decent amount cheaper then just shorting the stock out right.
@seexzavierfilms 3 жыл бұрын
I'm guessing they risked at least 10M each and bet one dollar per point. 1.00 lot. That would be a pool of 50 to 100M total and collectively it multiplied times 5 or 6. Lol.
@techihandle 2 жыл бұрын
@@tonyyee7040 one of the possibility, another could be selling calls.
@tonyyee7040 2 жыл бұрын
@@techihandle i'm not an expert but from my understanding selling calls they'd only collect the premium from the buyer of those calls even tho (sellers) are short calls right
@mastervsolo2373 3 жыл бұрын
If they lost 600 mil they would not be under investigation. What a joke. Well done to the lads
@dawoodwaris Жыл бұрын
I remember the day when oil went negative, I told my clients to keep buying major oil company's stock as the dividends were looking juicy. As a boring contrarian portfolio manager myself my clients demand a high margin of safety in their investments, for that reason I stay away from options and derivatives.
@imwrongbutlisten Жыл бұрын
I remember this day. Oil fell to like 20 wti fast. I put what I had available in a 3x leveraged ETF. Long oil. It didn't bounce for a quick sell. 4 o'clock came. Let's hold overnight which I never do with leveraged ETFs. Markets close, it felt like 5 minutes passed. We are a -35 wti. But I get to say I traded that day. That pretty cool.
@ezzatalkadi8295 3 жыл бұрын
I love these kind of stories..absolute legends..should be done a movie
@hamzapetridis206 Жыл бұрын
It’s funny how when the price of petrol is negative we don’t see clear changes at the gas station prices, but when it’s rising they don’t hesitate a second before selling it for more…
@crashnightgosonicvmax 2 жыл бұрын
Fantastic getting paid for both selling and buying with that amount of money! I have made +200 % on a non-leveraged (x1) Brent position since April 2020 but these guys are stars. Have a really nice day everyone everywhere!
@aducaale328 2 жыл бұрын
At that time it was rational and public knowledge that oil will go down coz it was the first lockdown. Kudos to these brave souls who did their research and risk it
@Mayor1248 4 ай бұрын
I HAVE INCURRED SO MUCH LOSSES TO TRADE ON MY OWN,I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED.
@maureen... 4 ай бұрын
I always advice new members to have an orientation on how it works before getting involved. Trade offers more benefits than just holding.
@maureen... 4 ай бұрын
Kate Floretta Face book
@maureen... 4 ай бұрын
Google " katefxfloretta " anywhere take classes to learn to trade.
@vincentstewart1843 4 ай бұрын
having a mentor is also very important when it comes to Trade, with out that, it can be very frustrating.
@vincentstewart1843 4 ай бұрын
you must have these things in mind 1. Have a long term mindset. 2. Be willing to take *risk*. 3. Be careful, if you're not spending to earn back, then stop spending. 4. Never claim to know - Ask questions and it's best you work with an assistant.
@justinmyers6737 Жыл бұрын
Me: I'd like to buy a barrel of oil. Oil seller: Ok, but you have to take this $38 too. Me: $38? I thought I'd have to pay more than that. Oil seller: No, I give YOU the $38 to take this barrel of oil. Me: Oh? What do I give you? Oil seller: Your sanity.
@Pulkit29 3 жыл бұрын
So basically, a bunch of guys shorted oil the same day it happened to trade for - ve. They took too long to tell a 1 line story.
@brolint8067 3 жыл бұрын
It’s a bit more complicated then that. They bought put options on it
@tiagodumont4422 3 жыл бұрын
@@brolint8067 Puts? Bloomberg said futures.
@NobaDyKnowZ 3 жыл бұрын
@@tiagodumont4422 Yes mate they bought Puts on futures and then bought sold futures at the same time
@ZahdShah 3 жыл бұрын
how did they predict and time the market and why did oil crash that day?
@NobaDyKnowZ 3 жыл бұрын
@@jordi8867 oops I meant they bought futures which were sold for cheap
@youtubeismyjockey7581 3 жыл бұрын
Great video from Bloomberg, always great to listen to these crazy trading stories
@bravosierra2447 3 жыл бұрын
‘Fortune favours the bold’ ~ some ancient geezer
@roncarlin3209 10 ай бұрын
The story I heard back then was that because of the worldwide shutdown, nobody wanted any oil, so the negative price reflected the price of storing oil in the immobilised tankers. Well, I believed that.
@heavenlyblush6012 3 жыл бұрын
ah imagine you made that much money trading, you're set for the rest of your life without have to move a flinch.
@warboyrb 3 жыл бұрын
That's not how these blokes operate.
@sonyboybluespower 3 жыл бұрын
Gamestop. Wait and see
@47ancherish71 3 жыл бұрын
@@sonyboybluespower I think they did game stop like months ago lol
@sonyboybluespower 3 жыл бұрын
@@47ancherish71 this is just gettin started
@ucaerospace8553 3 жыл бұрын
I'll bet 3 or more of them will lose it all in the future.
@gordonrules123 3 жыл бұрын
Sounds like they took the risk and reaped the reward. Nobody cries when the hedge funds makes billions everyday
@tdsucks21 2 жыл бұрын
The main reason the big oil companies and national oil companies lost while these guys one is that they are in a different business--these guys are traders. Meanwhile big oil has physical barrels they are trying to move and hedge. The traders have more flexibility in this scenario to see an opportunity and execute a strategy solely on financial derivatives, while the companies mainly try to trade based on the physical barrels they have access to. Actual oil companies had to figure out where to store their oil and what to do with the physical supply that had nowhere to go--they would not only face losses from not being able to sell the physical oil, but imagine the public fallout of them dumping millions of barrels in the ocean/burning it into the air, and the cost of stopping all production is far greater than a $660 million loss.
@tdsucks21 Жыл бұрын
@Dee Santer Ah yes, sorry for the innocent typo. Why don't you pop a Xanax and relax please.
@alansmith888 3 жыл бұрын
How much leverage did they use? How much capital did they start with?
@prayagmehta9738 3 жыл бұрын
Futures are so difficult that even insiders regularly lose money
@Arctik39 3 жыл бұрын
Great story, hats off to them
@redpilling5575 3 жыл бұрын
Well done to them I hope none of them ever get in trouble
@iancole85 3 жыл бұрын
As a wholesale electricity trader, negative prices are routine business. Was funny watching the rest of the world discover the dynamic.
@peterlustig8778 Жыл бұрын
in electricity yeah in oil: not so much or?
@davidsmith7090 3 жыл бұрын
It's going to be..Legen.... "wait for it" dary... Legendary... I can't wait for the movie... small firm gives the finger to multinational firms and the world of stock markets.... I want to see this on Netflix Billions somehow some fashion. Fantastic job Cuddles and your mates.
@MkOne001 3 жыл бұрын
I made 830€ from 50€ that day in my first trade ever^^ haven't been trading since then, that was pure luck and could have gone terribly wrong. Just investing atm. Cheers to these 9 guys! Would've been interesting how much the invested and what leverage.
@FirstLast-tx3yj 2 жыл бұрын
Why would it? Wasnt your trade a long put? Or what exactly was your position?
@lawrencenisbett7579 Жыл бұрын
It couldn't have gone wrong, you would have just long €50..
@MkOne001 Жыл бұрын
Opened a short on oil futures with no sl or tp and went to bed. Next morning oil was down and it was that day when the impossible was supposed to happen (oil below 0).
@lawrencenisbett7579 Жыл бұрын
@@MkOne001 I understand what you mean now, yes very high risk. Doubt we'll see it again
@nasrinasadianpoor4302 10 күн бұрын
I really appreciate the opportunity to study with you. Many thanks for your help.
@TheDanaYiShow 3 жыл бұрын
"led by a guy named cuddles" and that's how I knew it was going to be interesting (besides the title of course) Really well made video!
@sandraleonardo7387 3 жыл бұрын
Hello dearie.
@TheMacboy13 3 жыл бұрын
Your sound engineer def deserves a raise
@MKNYC_ 3 жыл бұрын
Of course when the small guy wins terms like “punishment” are thrown around.
@Downtime_videos 2 жыл бұрын
This is why were fighting back
@kingraghavsahni 3 жыл бұрын
Love these mini docs
@yosamitesam6103 3 жыл бұрын
I'm happy for those lads they are legends
@euphonikprince8801 3 жыл бұрын
Oil was-35$ because of OPEC meeting, there was no agreement between Russia and Saudi Arabia to cut the production to increase the price, the price of Oil was down because of international lockdown due to Covid-19. The meeting was on Sunday and when the Market opened on Monday, the crash was on. AUD and NZD fell 6% and 7% respectively. All Major Currencies fell more than 3% against the Yen and the Swiss Franc, just to mention the impact it had on the FX Market. ...the US Stock Market had 3 circuit break due to the massive selloff. that was the Bloody Monday, just like the Black Monday of 1987.
@haris000000 3 жыл бұрын
I remember that day 😂😂 I bought some shares in an oil company a week later ....
@travisrsmith44 3 ай бұрын
Anytime a commodity goes negative, essentially meaning theyll pay you to own it, buy as much as you possibly can and don't look at it for a year. If you can buy about $10k worth, you will never work again afterwards.
@ac-jn3wz 3 жыл бұрын
Amazing stories. Wish there were more details.
@MrRooibos123 3 жыл бұрын
Imagine making £100 million aged 22. That's insane
@Deloowix 3 жыл бұрын
These oil firms have all the advantage, but if you are an employee of these oil firms, you have the advantage to rip off your own firms. At least some people were tipped off imo.
@subhradeepsharma 3 жыл бұрын
They were or are employe . Three of them . As i know.
@aperture0 2 жыл бұрын
@@subhradeepsharma They worked in oil companies?
@marcusrakyat8891 3 жыл бұрын
Great 👍 sharing and everyone still puzzle why oil prices go negative.
@uhleka Ай бұрын
What would have been fair is if the fuel price that day at the pump had been negative for all.
@bobsimpson9228 3 жыл бұрын
Haha I remember when oil hit negative territory I was paper trading learning futures contracts and I made roughly $1M. If only it was real money 😂
@TaataGeo 3 жыл бұрын
😭😭😭
@mouliteeparthi9838 3 жыл бұрын
That hurts
@Rager_U 3 жыл бұрын
That sounds like me paper trading. If it were *real* money, I'd have lost a million.
@NithishS99 3 жыл бұрын
Psychology works differently when you are using real money
@bobsimpson9228 3 жыл бұрын
@@NithishS99 Stick to proven strategies you created from paper trading and you will be ok. DO NOT deviate from them. Keep record of what works and what doesn't. Don't get emotional.
@halcyonclay1822 3 жыл бұрын
They outsmarted oil Giants. Give em a break. Cheers mate
@stijnhaki 3 жыл бұрын
these traders sure know how to create added value, another great win for society!
@TheMadrasTrader 3 жыл бұрын
Inspiring story !!!
@anand... 3 жыл бұрын
Hi Rajan bro came here after u r telegram post 👍 Happy weekend bro🤙🎉😁
@hariramnarayanan5157 3 жыл бұрын
Yes 💯
@30-11 3 жыл бұрын
Hi rajan
@karthigam9871 3 жыл бұрын
And also risk factors of the trade they have taken.
@idontknowmyname8984 3 жыл бұрын
our jft community will be like this in any day in future :)
@cobalt4263 2 жыл бұрын
Dislike, wasted my time for way too long for something that could be covered in 6 min
@murryjm 3 жыл бұрын
And gas stayed no less than $1.50/gallon, while oil was negative. Yet when oil was $10 - $25 per barrel (in late 90s), gas was less than $1/gallon.
@lucaskp16 3 жыл бұрын
because that was an artificial price and only lasted moments. so it would not make a dent in gas price. also inflation is a thing
@murryjm 3 жыл бұрын
@@lucaskp16 It was the settled price. Oil was stored on tankers & barges for weeks so that it would not reach the refiners - thus elevating the price of gas artificially. This peculiarity then created a shortage of available tankers. Gas refineries is a low margin business, the price should’ve dropped much more. Inflation had nothing to do with the situation, except for the refineries artificially inflating the price of gasoline in order to extract more profits.
@johnl.7754 3 жыл бұрын
maybe tax increased
@andreasapei2859 3 жыл бұрын
@@murryjm and don't forget taxes and the fact that transport and gas stations are also paid from the sales of gasoline.
@mikehawk817 Жыл бұрын
A bunch of friends making the trade of their lifetime, cool story, thanks for the video
@gustavom8726 3 жыл бұрын
Bloomberg Quicktakes are better than Netflix
@Vic4ful 3 жыл бұрын
Sometime I dream about hitting that perfect trade that makes me do so much money...but I always forget that the first thing that would happen would be the legal scrutiny...nice
@theophilelouison7249 2 жыл бұрын
Imagine doing the best trade of your life and going to jail for it smh
@muhaimi92 3 жыл бұрын
When you lose money it’s alright,when you make money you are being investigated.
@julijansidneypicej4701 3 жыл бұрын
They really presented that well, these two guys
@worthyland4104 Жыл бұрын
How can they be blamed for the fact most all oil ships were full and floating at sea while this happened..... no one could take the oil because there was no where to put it and the price crashed lol
@UpStreamCharlie 3 жыл бұрын
Typical scenario when a small guy managed to win big the bigger guys gets jealous and asks for investigation. But when bigger guys win in the market, it's normal even if they do dodgy activities... they can easily get away with it. If I were those Essex guys, I would immediate transfer my money to some offshore account (buy some crypto currencies) and leave the country... 100 Million can get you anywhere and buy almost anything.
@andrewshaw2501 3 жыл бұрын
*Rich people plays the money game to win.* *Poor people plays the money to not lose.* *The goal of the truly rich people is to have massive wealth and the poor sees a surplus as an opportunity for consumption instead of investing it.* *change your mindset and do what the rich does,* *which is investing,* *investing and investing.*
@samuelteddy.439 3 жыл бұрын
That's true.
@samuelteddy.439 3 жыл бұрын
Cryptocurrency is a gamble. But everyone should be investing on.
@tonymonin5580 3 жыл бұрын
Everyone knows cryptocurrency is not a gamble majorly for the extremely rich.. It's an investment to compete with the rich and the government. Everyone can do it no restrictions.
@tonymonin5580 3 жыл бұрын
But anyone who is not investlng now is missing a tremendous opportunity.
@inociase8132 3 жыл бұрын
Yes. It's better to take risk and make sacrifices than to remain poor or settle for less..
@solutionspotter4594 2 жыл бұрын
I think they must be awarded instead of punishment, bcoz the govt never reimburse the losses that u made when u are inexperienced but it'll start investigating if u make huge profits. This is absolute nonsense if they are criminally charged.
@ahasiikuyu8001 Жыл бұрын
A retail traders ultimate dream
@kiuk_kiks 3 жыл бұрын
Where did they get the capital to make $700M in profit? That means they could have lost £500M??? How did they get that amount of capital to even make such a gamble?
@rajadhand Жыл бұрын
That's exactly i wanna know
@leocadiusbozena7813 3 жыл бұрын
I punder on how my retirement experience would generally feel like because I've not yet been able to save enough money and according to my spreadsheet I'm 9 years closer to my retirement schedule.
@wilsonthomson6987 3 жыл бұрын
You can start by investing on coins for a better return and a secured future as well
@peculiarmilahart3311 3 жыл бұрын
I’ve been trading bitcoin for a long time now with the help of a professional I now earn big trading on it , I see it to be the income ever
@bryanwindham4701 3 жыл бұрын
No magic in trading having a strategy that ensures profit is the best you can do and that’s not for novice, lost over $5k trading with bad strategy but with the help of an expert Carlton Jefferson I have recovered losses and even made more
@kartstones1495 3 жыл бұрын
That's why I always advise traders to invest with Mr Carlton Jefferson’s platform. On his platform I never experience any issues of re-quote or fake slippage.
@joryhenrika1968 3 жыл бұрын
I started my Investment with $3200 now my account is worth $16800.
@RubinRappaport Жыл бұрын
Does anybody have an idea what trade platform did they use?
@mattk1631 2 жыл бұрын
Congrats to those mad lads from Essex
@ukasztokarski3715 2 жыл бұрын
And I've lost like 30% of my money that day lol But it was amazing to be a part of this historical moment
@amarbaha 3 жыл бұрын
Big fan of Liam's writing. Keep it going mate!
@jessewolford2354 Жыл бұрын
that is so genuinely sad to see these guys being investigated. but no investigating into any other dodgy things that large corporations do to manipulate the market.
@dennym6270 Жыл бұрын
This is so cool. To the people out there who pulled this off - well done. Hope you’re all living the dream out there somewhere
@lucythompson5841 3 жыл бұрын
There might be an economical turmoil but there is no doubt that this is still the best time to invest.
@henryclinton9317 3 жыл бұрын
Best time to invest? thats funny though because in the last four months I have lost more than $47,900 in stock market which is the biggest I have loss since I ventured into stock investment.
@lucythompson5841 3 жыл бұрын
you could be right or wrong depends on your expertise, I once made such loss when i invested thinking i have gathered enough trading skills from youtube videos but now its a different ball game for me because I was lucky to have met "Jessica Lee Aquiler ", a financial manager and stock expert, I have made more than $165,000 in 6 weeks under her supervisions.
@lucythompson5841 3 жыл бұрын
kindly search her name on web
@jonathangandy9271 2 жыл бұрын
During the last half hour their gains were so great that they were able to force the price below zero and lower. Either that or they were the front for a larger operation, a manipulation.
@austinradolli2246 3 жыл бұрын
A genius and his prodigies, they will tell the story before they die
@elsingon7464 2 жыл бұрын
I doubt it... Seen how many traders been wrongfully accused for taking chances on situation like this.. is best they disappear
@chazzemmons 3 жыл бұрын
bet there were a lot of cuddles that day 😂
@cuddling2 3 жыл бұрын
"you get a cuddle, he gets a cuddle, EVERYONE GETS A CUDDLE!"
@vaibhavmuchandi8112 3 жыл бұрын
when the big guys win, its a strategy but when the small guys earn some money, they’re manipulators and they face charges :)
@AmyCwakeo Жыл бұрын
Despite the economic downturn, I'm having the best time of my life financially. Earning over $83k in the last 2months with an investment of $19,000. Money can be made even in a bear market. Make the most of it.
@zarahqureshi6654 Жыл бұрын
@James Brown How are you able to make that much?
@maryteresa4018 Жыл бұрын
Hello
@demivegasroberts2349 Жыл бұрын
Truly to build wealth during a recession, you should focus on where you can save money and invest in foreign currency
@barbarapike3712 Жыл бұрын
@James Brown How can I be part of this project? I earnestly hope to build a strong financial future
@hassanasad5877 Жыл бұрын
I have read alot of textimonies about people grabbing multi-figures weekly and monthly as income in investments, even in this crazy days in the market baffles me
@clintonj.johnson9879 2 жыл бұрын
Putting your time, effort and activities in things and ideas that will yield a profitable return in the future is what we should be aiming for.
@EyouelExchange Жыл бұрын
When someone they don’t expect to win makes it. Now they turn them into a bad guy
Think School
Рет қаралды 994 М.
Bloomberg Originals
Рет қаралды 212 М.