'My life's screwed': Korean investors stress out after AI bubble bursts

scrlk

https://archive.ph/WBSCj

sznio

>bursts so it's bursting now?

thelastgallon

> nearly half of its 880,000 clients who bought Samsung shares were now sitting on losses, while nearly 70 per cent of its 408,000 investors in SK Hynix were also in the red. > Margin debt, which hit a record Won38.6tn ($27bn) last month as investors borrowed to amplify bets, has dropped to Won33.2tn after a wave of forced liquidations during the recent rout. Looks like there is a lot of leverage left.

reddguard

Hyped Korean techbros went from “Let’s gooo!” to “Aww nooooooo!” faster than a StarCraft 2 match

one33seven

oh those poor rich people that lost a bet, I feel so sad for them :(

smcg

Gamblers shouldn't expect to win all the time.

louiereederson

> Part of the problem was regulators’ decision in late May to approve 16 single-stock leveraged ETFs tracking Samsung and SK Hynix, which have been blamed for amplifying moves in indices and individual stocks. Baffling that this was approved, though less so if you don't assume the regulator has the general market participant's interests in mind

a-french-anon

This article's comment section made me discover the hilarious "No crying in the casino" meme words, thanks.

derdi

No chart in the article, huh? Strange, that. Kospi is up 72% year over year: https://www.google.com/finance/beta/quote/KOSPI:KRX?window=1... It's up 30% year-to-date. It's even up 13% over the last six months. The same is true for Samsung, except the numbers are even larger (in the green direction). Sure there must be people who screwed themselves in the short term, but this doesn't look like reasonably careful investors have anything to cry about as of right now.

vivzkestrel

- why is everyone suddenly selling - what changed in the last week that did not change in the last 6 months?