r/stocks • u/[deleted] • Oct 16 '21

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280 Upvotes

87% Upvoted

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557

u/xiavi93 Oct 16 '21

Have you heard about guy who wanted to short south africa?

69

u/FlyinBuddba Oct 16 '21

i did but never read the ending, what happened?

97

u/jharedtroll23 Oct 16 '21 edited Oct 16 '21

If my memory serves me correct, on WSB a guy posted that because of the riots in SF, the economy of the country tooked a beating and hence, making that thesis correct.

Edit to add: when I mention the SF riots post on WSB, I'm reffering to another OP; in essence that OP refuted the post of the guy shorting the whole country.

226

u/ExaltedDLo Oct 16 '21

You forgot the critical part!!

He made the bet, his thesis was rock solid, then the MS Evergiven got stuck in the Suez, resulting in a massive influx in trade to South African ports, fuel dispensaries, trans loading facilities etc not seen since back when rounding the cape was normal course.

The economic surge made his bet worthless, but his thesis ultimately panned out.

46

u/[deleted] Oct 17 '21

I admit its probably kinda hard to predict that the fucking suez canal would shut down

12

u/YoshiWins Oct 17 '21

Nobody expects the Spanish Inquisition.

13

u/GYN-k4H-Q3z-75B Oct 17 '21

Unless you cause the shutdown. That's a plan.

3

u/Pearl_is_gone Oct 17 '21

Currency surged on commodity prices, not the suez canal