Millennium Management, LLC

Right.

When you look at the Citadels, Millenniums, the Point72s, it, what is probably not well known is that the people that work there, the, the pods as they're called-

Explain what a, a pod within a Millennium or Citadel is.

So-

You are by definition, creating a better return stream that'll have no volatility.

You're basically replicating what the Millenniums and the Citadels have been able to do over time.

And so I think that that's the thing people are missing is it might take a little time, but eventually the diversification opportunities, the instant ability to find this many strategies and find a thousand of them, because when you meet a pension fund, their biggest issue is, well, I can't find a manager that can handle the money that I have.

and still generate the returns.

And I think we see that also in the financial world.

It's a reason why the Millenniums and the Citadels aren't working in the same way as this sort of challenge to hedge funds like Toll and I guess Jane is now part of.

Yeah, they've joined the crew.

But

It'll last three weeks.

Look, arbitrageurs, the big hedge funds, the Ken Griffins of the world, the Millenniums of the world, they can do exactly what you show on your screen.

They can make an asset go down.

Because why? Because idiots...

Onto our last story now, nearly 6,000 crore rupees worth of Lenskart and Eternal shares changed hands as large institutional investors spared their holdings.

In Lenskart, BNP Paribas, Societe Generale and the Millennium Management affiliate Integrated Core Strategies sold shares worth a combined Rs 2,678 crores BlackRock Emerging Market Fund was among the notable buyers picking up shares worth Rs 1,876 crores.

This follows another Rs 1,857 crores of Lenskart block deal which happened last week.

taking large secondary transactions in the stock to more than 4,500 crores in less than a week.

And then a lot of prop trading is still there, such as Jane Street.

and a lot of quant and renaissance were based in the greater new york area as well it's a hedge fund capital and a lot of the the pod hedge funds which are kind of like pools of different funds, but all operate under a single umbrella like Millennium Partners and Point72 are all based in New York City area as well.

So it is the hub for investing.

It is still the hub for finance, for all the commercial banking, investment banking, wealth management, hedge funds.

First Brands revealed a $12 billion web of liabilities when it collapsed, and investigators are working to unveil whether the firm pledged the same assets to different lenders several times over in order to borrow these huge sums of money.

Jefferies, the investment bank, and Millennium Management, one of the biggest hedge funds in the world, are said to be amongst those facing losses.

Tricolor and First Brands operated in different corners of the auto sector.

Tricolor sold used cars to subprime borrowers, many of whom were undocumented workers in the Southwestern United States.

Jefferies, which had been marketing First Brands debt just weeks before the collapse, now faces reputational damage.

Its investment unit was also exposed to the company's invoice financing, an arrangement that may not have been adequately disclosed to other lenders.

Millennium Management, one of the world's largest hedge funds, is amongst those facing losses.

Other asset managers, including PGIM and CIFC, held First Brands debt through collateralized loan obligations.