Doesn’t the market usually start finding a bottom when somebody finally blows up?

Now we have Situational Awareness, a levered AI/infrastructure book with big losses in weeks and a public stock portfolio sold to Citadel, and the AI complex ripping immediately after. UBS AI winners Stock Index is up over 10% today. • 1998: LTCM • 2018: Volmeggeon - XIV / short-vol unwind • 2020: Treasury basis trade / forced deleveraging • 2021: Archegos, more idiosyncratic, but same forced-liquidation pattern — via @biancoresearch

Mention of levered AI losses and portfolio sale to Citadel signals potential market bottom.