Posted: 04 Sep 2020 11:25 AM PDT

https://www.ft.com/content/75587aa6-1f1f-4e9d-b334-3ff866753fa2

SoftBank is the "Nasdaq whale" that has bought billions of dollars' worth of US equity derivatives in a series of trades that stoked the fevered rally in big tech stocks before a sharp pullback on Thursday and Friday, according to people familiar with the matter.

The Japanese conglomerate had been snapping up options in tech stocks during the past month in huge amounts, fuelling the largest ever trading volumes in contracts linked to individual companies, these people said. One banker described it as a "dangerous" bet.

.....

The size and aggressiveness of the mysterious call buyer, coupled with the summer trading lull, has been a big factor in the buoyant performance of many big tech names as well as the broader US stock market, according to Mr McElligott. This week, he warned that dynamics around options meant the heavy purchases forced banks on the other side of the trades to hedge themselves by buying stocks, in a "classic 'tail wags the dog' feedback loop".

What could go wrong?

submitted by /u/WalterBoudreaux
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Biggest Investments in Gold

Posted: 05 Sep 2020 04:28 AM PDT

Hi everyone, I've been given a project as part of which I am required to identify the wealthiest families in the World (Waltons, Rothschild, Berkshire, etc) who have invested the most in gold (physical gold, funds or mining company stocks) in the last six months. I have been googling for days and haven't found anything. Do u have any idea about this, or about from where can I access this information or make necessary calculations? Any help is highly appreciated, I am utterly clueless rn.

I am under a tight deadline and all of this is just making me so anxious. I'd be VERY grateful to anyone who can help me with this.

submitted by /u/Globally20
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Anomalies & Market Efficiency - G. William Schwert

Posted: 05 Sep 2020 03:57 AM PDT

submitted by /u/dancin_homer
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Unity Software: Intellectual Exercises

Posted: 04 Sep 2020 06:17 AM PDT

I did two exercises on Unity.

In the first post, I focus on the runway. I arbitrarily assume a 20% CAGR for 25 years.

And then I play around a 25-year dcf based on the CAGR above in the second post.

I believe "following" Unity might pay dividend:

Engine has very long runway which is subscription-based;
There's uncertainty around the robustness of advertising revenue & other Operate Solutions (if any) which is rev-share / usage based;
Current rich SaaS valuation might spoil over to non-subscription based business (Operate Solutions) at IPO which is a source of de-rating in addition to multiple contraction;
Relatively high advertising revenue contribution and uncertainty of its robustness (growth) might create of volatility in overall growth;
#3 & #4 might be source of drawdown of the stock sometime in the future which might create very attractive long term opportunity if it's not acquired by strategic buyers or financial investors.

submitted by /u/yuinausicaa
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AER DCF Valuation

Posted: 04 Sep 2020 03:16 PM PDT

Below is link to an AER DCF Valuation. Open to feedback because the best way to dissect any research is to feed it to the wolves.

link to pdf

submitted by /u/ahunnidhandles
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