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The Leverage Inside Korea’s Memory Trade

chamath.substack.com · 816 words · saved by 1 readers

A summary of the interesting content that I consumed this past week…

Caught My Eye… 1) The Leverage Inside Korea’s Memory Trade South Korea’s KOSPI, its benchmark stock market index, has triggered consecutive circuit-breaker sessions this week. At the low, the index had erased almost 40% of its value from the record above 9,380 it set little more than a month earlier. As much as $2.18T in Seoul market value had disappeared. Korea had listed single-stock leveraged ETFs nine weeks earlier, on May 27. These funds promise twice the daily move of one company’s shares, and retail money crowded into the two tracking Samsung and SK Hynix. Both were hit hard on…

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